Are you one of the Lancaster or Morecambe landlords that are planning on expanding their portfolio of properties?

Over the next 2 years, it is predicted that 465,000 landlords across the UK plan to expand their letting portfolios, which for tenants out there desperate to find somewhere to live, it will be music to their ears.

It is an interesting situation. Covid hasn’t deterred landlords. In the recent Landlord Trends 2021 survey, less than 1% of those questioned cited Covid as a reason to either buy or sell. It doesn’t seem that recent tax changes have deterred them either.

Landlords see the benefit of owning property, especially long term. For example, over the past 10 years, prices on terrace homes have jumped by a huge 51.9%. I have popped a graph below to show you how property prices have changed. It is interesting, isn’t it?

Many landlords have seen a substantial increase in the equity of their properties. This enables many to re-mortgage, drawing out a deposit to help them expand their portfolio. Rents are also increasing so often the increase in rent covers the increase in any mortgage payment.

Rents have increased. The recent rental index update that we featured on our blog highlights this. Click here to read it. There is a huge shortage of properties with many of our properties receiving in excess of 30 inquiries. A recent property on Willow Lane received over 130!

Are you thinking of expanding your portfolio? If so we would love to help you with this. Please let us know your plans and then when a suitable property comes up – we can let you know.

At JDG we like to look after the future growth of our clients. Call us on 01524 843322 or email me – josh@jdg.co.uk

Thanks for reading

Josh