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Experienced landlords expand portfolios

Landlord portfolios have increased to a new high of 1.44 rented homes on average, according to figures from Countrywide.

The latest Countrywide Monthly Letting Index shows that the number of landlords in the UK has dropped by 154,000 since 2015.

Despite that, the number of rented homes across the country has increased to 5.1 million. The property group estimates that there are 3.56 million landlords across the country today.

Some 73 per cent of UK landlords own just one property, down from 86 per cent in 2010. Meanwhile, the number of landlords with 10 or more homes has increased by a third.

Changing regulation and taxation of buy-to-let properties means some landlords have abandoned the sector, while others have used the opportunity to increase their portfolios.

Those in the north east of the country are most likely to own multiple rental properties. The average portfolio in the region contains 1.54 properties. But landlords in London are twice as likely to own 10 or more home than in any other region.

Countrywide research director Johnny Morris says: “The increasing number of rented homes ins being driven by landlords expanding their portfolios rather than new landlords entering the market.

“Increasing regulation and recent changes to income tax relief on mortgage interest payments seems to favour more experienced, professional landlords.”

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