Only 6% Of UK Buy-To-Let Landlords Own More
Than One Rental Property
New data from the latest Countrywide Residential Lettings Index shows that portfolio landlords with multiple rental properties are the minority of the UK’s private rental sector.
According to the research data, the average the size of a UK landlords’ buy-to-let portfolio tends to be small, with only 6% owning more than a single rental unit, however in London this figure reduces to just 4%.
Countrywide also report that 56% of private rented sector landlords own at least 1 rental property within 10 miles of their own residential properties.
When the data is expanded to account for buy-to-let landlords who live within 25 miles of their rental properties, the North East recorded 83%, followed by 81% in the North West and 71% in East Midlands. Landlords who live within 25 miles of their rental properties in London average just 60%.
London has the highest proportion of landlords who live more than 100 miles away from their rental properties, with over 20% of UK PRS landlords doing so, twice the UK average.
Wales and the East of England are more rural than other regions of the UK with less dense population clusters, so many landlords purchase properties in busier areas and choose to live within a commutable distances in order to keep an eye on their rental assets. The proportion of landlords living between 10 and 25 miles away in Wales and the East of England is the largest in the UK.The increased cost of purchasing property and the size of required deposits are a significant barrier for landlords who want to increase the size of their rental property portfolios.
The Countrywide Residential Lettings Index also found that the average monthly PRS rent in February 2014 averaged £861 (GBP), up 0.2% month-on-month and 3.1% year-on-year.
7 out of 10 UK regions recorded month-on-month decreases in a tenant’s average monthly rent, with Yorkshire and Humber seeing the greatest drop, down 6%, followed by the North East, falling by 3.1%.
Central London and the South West regions recorded the largest month-on-month increase in private rental sector rents, up 4.1%.
- Click to share on Facebook (Opens in new window)
- Click to share on Twitter (Opens in new window)
- Click to share on Google+ (Opens in new window)
- Click to share on Tumblr (Opens in new window)
- Click to email this to a friend (Opens in new window)
- Click to share on Reddit (Opens in new window)
- Click to share on Pocket (Opens in new window)
- Click to print (Opens in new window)
- Click to share on Pinterest (Opens in new window)