Landlord confidence recovered in the first quarter of 2017 from Q4 2016, despite the proportion wanting to grow their portfolio dropping to a new all-time low, according to BM Solutions.
South East landlords are most optimistic about the prospects of their own letting business, with 47 per cent feeling ‘good’ or ‘very good’ about its prospects. They are followed by South West landlords at 44 per cent. Scotland and Wales are the least optimistic, with just over a quarter of landlords feeling positive (26 per cent).
The proportion of landlords looking to expand their portfolio has fallen to an all-time low of 13 per cent.
The latest survey has found that the average portfolio currently has risen slightly to 8.1 properties, up from 7.1 properties in Q4 2016.
Tenant demand continues to soften during quarter one, with 17 per cent of landlords reporting a decline.
This is driven primarily by central and outer London, but also the North East.
In central London almost twice as many landlords are now reporting a cooling in tenant demand compared to those reporting an increase.
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