New Landbay research shows 64% of BTL landlords are not planning to sell any of their properties in the next year.
The strongest sentiment was found with individual landlords where 75% said they did not intend to sell while 69% of those with two-or-three property portfolios said the same — 65% of landlords with 20 or more properties had identical intentions.
The number of landlords planning to sell some properties increased slightly to 30% — up from 28% in the previous survey — while 6% planned to sell all their properties.
Survey respondents were split across small, medium, and large landlords.
For those intending to sell, 60% said the reason was rising interest rates, an increase from 45% in the previous survey, with another 45% saying rent doesn’t cover their mortgage costs — that’s up from 28% in the Q4 2022 survey.
Respondents also mentioned landlord taxation (47%), the cost of meeting the proposed EPC requirements (40%) and worries about evicting tenants (34%).
The findings form part of Landbay’s latest quarterly survey which aims to find out the attitudes and intentions of existing landlords.
Respondents were quizzed on a range of topics to determine the key factors facing the sector and their thoughts on the future of the BTL market.
Paul Brett, MD of intermediaries at Landbay (pictured above), said: “While it’s certainly the case that some landlords are trimming their portfolios in the current climate, our latest data demonstrates that the majority are not looking to make any cuts at all.
“This is positive news for the wider housing market which is so reliant on rental supply — after all, one-in-five households in England and Wales depend on the PRS for housing.”
