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Buy To Let

Landlords seek semi-detached properties

Written By:
Guest Author
Posted:
12/05/2015
Updated:
12/05/2015

Guest Author:
Adam Williams

The number of landlords looking to buy semi-detached properties has risen sharply, according to market data.

A survey looking at trends in the private rental sector by buy-to-let lender Paragon showed 35% of landlords were seeking a semi-detached property. This figure has risen from 23% in the last quarter of 2014.

Demand for terraced houses dropped during the first three months of the year, falling to 35% from its previous level of 67%.

The proportion of property investors looking to purchase a flat remained flat at 30% of all landlords.

In addition, 22% of landlords looking to buy another property were considering a specialist unit. This can include a block of smaller flats or a House of Multiple Occupation (HMO).

The poll, conducted before the Conservative’s general election victory, found that landlords were feeling morepositive about the market. More than a quarter (27%) said they were positive about the direction of the market while 18% said they planned to buy soon.

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John Heron, director of mortgages at Paragon, said those operating in the sector were looking to expand into new areas, buoyed by increased confidence.

“The growing proportion of landlords looking to purchase buy-to-let property sometime soon points to continued, steady growth in the private rented sector,” he said.

“Meanwhile, a closer look at interest levels for different property types suggests landlords are taking a broader perspective in order to cater for the wider range of households looking for a suitable home in the rental sector.”