Less than a third of landlords would add to their buy-to-let portfolio over the next 12 months, research claims. A survey of 5,000 landlords, by letting agent Benham and Reeves, assessed sentiment in the property sector amid tax and regulatory changes.
The majority (83%) said they were unlikely to sell up this year, but just 28% said they would consider investing in a property in the next 12 months. Half said they would consider expanding their portfolio within the next five years.
Two thirds of landlords said the proposed changes to Section 21 notices made them more cautious about investing in a further property, while opinion was divided over changes to mortgage interest relief and whether the sector still provided a good investment as a result, with 49% believing it is and 51% no longer sure.
Despite this uncertainty, 73% considered property as still the best and least volatile long-term investment when compared to all other asset classes.
More than a third (37%) felt very confident that they will see an adequate return on their portfolio over the next ten years, with a further 6% stating they were extremely confident and 51% not as confident.