As landlords increased the size of their portfolio to an average of 13.2 properties in the first quarter of this year, Belvoir Lettings Sheffield, the leading letting agent in Sheffield is claiming that this indicates market stability.
The new report from Paragon Mortgages found that the average number of properties held by a landlord in the UK rise to 13.7 over the next 12 months.
The Paragon research also showed that nearly half (43%) of landlords think that tenancy demand will grow over the next 12 months, with smaller landlords (those with up to five rental properties) being more optimistic than professional ones.
Rick Flay, Director at Belvoir Sheffield, who offer a wide range of rental property in Sheffield, said: “These latest figures demonstrate that landlord confidence has certainly returned to the market and that now is a great time to invest. Here at Belvoir Sheffield we are seeing existing landlords expanding their portfolios and new landlords coming to the market which is fantastic.”
The figures from Paragon also indicated that of those looking to buy properties within the next year, the most popular choice is terrace homes followed by semis, flats and maisonettes.
Rick, whose letting agency on Campo Lane in Sheffield, specialises in providing flats to let Sheffield, added: “It is interesting to read that the most popular properties are terrace homes, here in Sheffield we have had an increase in those seeking student accommodation as an investment.
“Landlords looking to expand their portfolios, or first time landlords should consider using an agent to manage their properties for them, Landlords need to be aware of the many pitfalls, including strict regulatory requirements, insurance considerations and tenant reference and checking procedures. Before making the decision to opt for DIY property management, or expand your portfolio, you need to factor in the time each property will take to maintain, conduct checks on and undertake those necessary repairs.”
Belvoir Lettings Sheffield is the One Stop Specialists for Lettings including Property Management, Tenant Find, Investment and Wealth Management Advice, Fit-outs and Renovations, Furniture Packs and Investment Property Insurances and Mortgages.
