Cause For Optimism For Landlords In 2022
We know the start of a New Year gives cause for optimism, and we believe many landlords are looking forward to achieving success this year. This is something we have seen for ourselves, and it is something that has been raised in recent studies.
According to information published by Shawbrook Bank, 34% of landlords are looking to buy at least one new property in 2022.
There is demand for rental property
We have seen locally that there is significant demand for rental property, and if you are looking for guidance and support, we are more than happy to help. We have helped to connect many landlords and tenants in Enfield, and we look forward to assisting you as best we can.
Of the 34% of landlords who say they intend to buy property in the next year, 14% of these landlords said they intend to buy more properties than they have previously considered. We believe this shows that professionals in the industry have a considerable level of trust in the marketplace.
Where are landlords looking to buy?
The study also found that 13% of landlords are keen to buy rental accommodation in a new location. Of the landlords looking to buy rental property in a new location;
36% want to buy in an urban setting
30% of landlords are looking to purchase rental property in a more rural setting
Landlords are more flexible in thinking about property types to invest in
Given that the demand for property types has shifted across the past couple of years, it is no surprise to see landlords also looking at different options. 12% of landlords said they are thinking about buying a different type of property.
Flats remain a popular option for landlords, at 27%, but with 34% of landlords saying they are looking to buy them, semi-detached properties are the most popular option in the rental market. The second most popular option is terraced properties, coming in at 31%.
Analysis of the property types listed for sale in Enfield (according to Rightmove as we move into 2022), the breakdown is as follows:
355 properties listed in total
22 detached properties listed for sale
52 semi-detached properties listed for sale
72 terraced properties listed for sale
195 flats listed for sale
7 bungalows listed for sale
Emma Cox, Sales Director at Shawbrook Bank, comments: “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.”
Emma also said; “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 be low, 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.”
Contact The Letting Line for letting assistance in 2022
If you are looking for guidance or assistance in the Enfield rental market, we can help. At The Letting Line, we are a specialist letting and property management agent serving Enfield, Barnet, Potters Bar, Brookmans Park and surrounding areas.
We can arrange a free valuation for you, and if you are looking to contact us, please call us on 020 8342 1234.