Shawbrook, the specialist UK savings, development finance, and bridging finance bank, has published findings from its research, showing that UK landlords are planning to expand their portfolios in the coming year.
34% of UK landlords plan to purchase at least one additional property and 14% are now looking to purchase more properties than they had originally planned. Confidence in the market appears to be soaring, with 67% of those surveyed feeling confident about the coming year.
Only 13% of landlords are looking to purchase in a new area of the UK, and of those 36% were looking at urban locations whilst 30% were considering rural areas. 23% of landlords who intend to expand their portfolio are planning to purchase additional property in the north of England.
Alternative property types are also being considered amidst the current supply issues, with 34% of landlords looking at semi-detached houses as an option and 31% considering terraced houses. Flats also remain a viable option for 27% of landlords.
Emma Cox, sales director at Shawbrook Bank, said: “The resilience of the UK property market is clear from our research.
“Despite the hurdles caused by the pandemic, the market has stood firm and house prices have continued to soar in price.
“This has created attractive opportunities for investors and property developers, whose confidence in the market has grown over the last 12 months.
“Their buying activity and trends show that the market is likely to remain strong over the short term.
“Indeed, with 2021 announced as the ‘busiest year’ for the housing market according to Zoopla, despite recent falls in transactions, it’s clear that the market has fully rebounded from the lows of the pandemic.
“As supply continues to below, it’s unlikely that we’ll see house price growth slow significantly and as we move into January next year following the seasonal slowdown over Christmas, property investors will be seeking further opportunities to expand their portfolios.”
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Earlier this month, Shawbrook made a new hire, Craig McPheat, who has joined the bank as head of experience design. This is part of the bank’s plan to boost its team with at least another 100 new hires by the end of next year, in a variety of roles from developers, cloud and data engineers, product and customer experience designers and technology and data-related roles.