More than 5,000 landlords in Leicester want to expand their property portfolios, according to new figures.
Data released by buy-to-let lenders Aldermore suggests that 41 per cent of landlords with property portfolios including more than a single property are planning to add to their property investments. Given that there are an estimated 18,613 landlords in Leicester – with over 12,754 being classed as ‘portfolio landlords’, meaning they own multiple rental properties – this equates to 5,229 Leicester landlords who have plans to expand their portfolios over the next 12 months.
Around 5,859 landlords in Leicester currently own just one property, whilst the city’s portfolio landlords own a total of 26,768 homes. There are in the region of 3,817 Leicester landlords who own over ten rental properties, accounting for 29 per cent of the city’s portfolio landlords.
Most Leicester landlords are predicting a bright future for the city’s rental market, not least because Leicester has the quickest-growing rents in the UK.
The city overall continues to offer the tantalising combination of affordability, high yields and relative security thanks to a low risk of property prices going down in the near future.
The city’s investors are also being attracted by the investment potential of Leicester property at a time when the stock market is facing massive uncertainty and FTSE 100 firms are issuing profit warnings. Savings accounts are only yielding up to 1.5 per cent in interest in the current climate, and there is only two per cent on offer from government bonds, meaning that buy-to-let in Leicester has never seemed more attractive.
In contrast to the uncertainty surrounding other investments, long-term plans for properties in Leicester offer a degree of security that can seldom be found elsewhere. This is especially true when the future looks set to feature a continuation in the trend of increasing demand for property in the city and a fall in the amount of land available, as well as a rising number of people who do not want to, or cannot afford to, buy.
If you are one of the thousands of landlords in Leicester looking to expand your property portfolio or want to get your first piece of the buy-to-let action in the city, the team at Keywest can help. Get in touch today for unrivalled experience and advice along with a guaranteed high standard of customer service and commitment to providing you with the personalised service you want and need.
We are also on hand to help if you have a Leicester home to sell and want to make the most of those landlords who want to buy up more property in the city. Our sales team are just a phone call or email away!