Landlords Corner – London Remains Most Attractive BTL City For Landlords
Simply Business reviewed more 100,000 insurance policies, and with close to 40,000 BTL policies in place for the capital, London is still the place where landlords need to be to meet tenants. This isn’t new information or surprising data, but it reinforces the importance of London, and why landlords should have a strong presence here.
Alan Thomas UK CEO at Simply Business, said: “The private rental sector houses over 17% of British households, with landlords taking on capital risk to provide the product of housing to those who otherwise might not be able to afford it. Though London remains unrivalled for its demand for buy-to-let properties, we are seeing northern cities including Liverpool and Leeds come into the top 10. It is wholly encouraging that our data shows that landlords view a broad spread of regions as attractive areas to invest this year.”
We believe an area like Leytonstone, and East London in general, provides opportunities for tenants and landlords. This isn’t overpriced, in relative terms, and there is a lot to like about the community feel.
If you would like to learn more about letting in London and Leytonstone, we can help you.
Many landlords are looking to expand their property portfolio
A review by Landbay suggests 42% of BTL landlords are set to expand their property portfolio in 2023. 79% of the group who say they intend to buy don’t expect to sell any of their properties in this time.
Paul Brett, Landbay’s managing director, intermediaries said: “Rather than a ‘mass exodus’, this latest data shows a real statement of intent among landlords to not only maintain their existing portfolios but to expand. This is hugely encouraging given the myriad of challenges facing landlords and the wider buy-to-let sector. Landlords will be encouraged by the news of rates trickling down recently. With the new year bringing lots of positive indicators for the year, plus strong rental yields still reported by many respondents, landlords clearly have the confidence to push ahead with expansion plans.”
The demand for rental property isn’t going to diminish, if anything, the demand will increase. We also know that demand for living in London isn’t going to drop off. Yes, some people will move away, taking advantage of remote working opportunities, but many people are not in a job or further education where they can make this move.
There are also many people who love living in London, or who do so for family or other reasons. Since the pandemic, there has been a re-evaluation of what matters to people, and how the location you live matters so much for your happiness and health.
There is no denying many people want to live in the country, but equally, city living is ideal for many people. And in areas like Leytonstone, the greenery and parks mean you can enjoy space, peace and quiet in amidst the hustle and noise of city life.
This is what many tenants want, which means many landlords are drawn to these areas. If you are looking for guidance on the Leytonstone rental market, or how you can achieve success by letting property in the capital, we are always here to assist you.
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