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A staggering 94% of landlords reported that tenant demand is either stable or growing, according to a survey by buy-to-let lender Paragon Mortgages.
The survey, which is carried out every quarter, also reported that the average yield across landlord portfolios has remained around the same level during the previous 12 months, with landlords reporting an average yield within their property portfolio of 6.2%.
The second quarter showed that 38% of landlords feel somewhat optimistic for their rental portfolios, whilst more than half reported that there was no change in their views whatsoever. The survey also reported that 16% of landlords are looking to increase their rental portfolios within the third quarter.
Managing Director of Paragon Mortgages, John Heron said:
“It is interesting to see the improvement in confidence amongst landlords in the PRS. We are seeing much more activity in the private rented sector and, in turn, the buy-to-let market as a result of continuing strong rental demand and the investments made by landlords. Tenant demand is clearly staying very healthy, and this is likely to remain a common trend over the coming months, particularly as we are still not seeing the level of house building that the wider housing market so desperately needs.”
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