Landlords 'optimsitic' about the future

Landlords are still looking to buy property and a large percentage believes their prospects are good, research has revealed.

Independent mortgage broker The Money Centre found that 52 per cent of landlords were optimistic about their prospects, whilst more landlords were looking to buy than sell.

Lynsey Sweales, director of The Money Centre, said: "The research shows the average length of time landlords expect to be in letting is 17.5 years, which is why scaremongering over house prices dropping is not a major concern for professional landlords."

The research revealed that 54 per cent of landlords were positive about the potential of property compared to 44 per cent in December 2007.

Landlords are also confident about rental yields as falling property prices and caution amongst lenders are pushing both homeowners and first-time buyers towards the rental market.

Ms Sweales commented that she felt there was a "good opportunity" for an increase in rental yields in the coming months.

A survey published yesterday (May 22nd) by the Royal Institute of Chartered Surveyors (Rics) revealed that nearly 30 per cent of surveyors reported a rise in new landlord instructions in the first quarter of 2008.

Property Investment News posted on 23/05/2008 16:33:10