Landlords shun chance to pick up bargains

News Category: Industry News

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Landlords are set to shun the chance to add to their property portfolio in months to come despite the opportunity of securing a bargain as house prices plummet.

Research conducted by buy-to-let specialist Paragon found that just 14 per cent of landlords are planning new acquisitions to bolster their property investment portfolio over the next 12 months.

Meanwhile, 67 per cent of the sample said they were planning to consolidate their existing investment, claiming they are not looking to either buy or sell property.

Commenting on the data, John Heron, managing director of the lender, urged landlords to be more aggressive and take advantage of the fall in prices as well as the soaring rents that they can currently expect.

He said: "Now is a good time for landlords to tweak their portfolios and dispose of properties that aren't performing as they would have hoped, while picking upproperty at cheap prices to bolster their portfolios.

"Tenant demand is very high, rents are rising and buying opportunities are presenting themselves in a cooling housing market."

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