PROPERTY acquisition activity remained strong during the first quarter of 2012, according to latest research commissioned by specialist buy-to-let lender Paragon Mortgages.
The report, produced by independent researchers BDRC Continental, showed that during the last three months, landlords increased their portfolio size by 1.8 properties.
In the first quarter of 2012, the average portfolio size was 10.8 properties, accommodating 1.3 tenants per property.
Of those landlords taking part in the survey, 20% said that they expect to purchase property in the next 12 months.
However, among Paragon Mortgages customers who took part in the survey, 35% said that they expect to add to their portfolio in 2012.
Terraced houses continued to be the most popular property choice for investment at 64%, followed by flats – individual units – 57% and semi-detached houses 46%.
Tenant profiles remained largely unchanged in the first quarter with young singles still the most prolific tenant type at53%, followed by young couples (51%) and families with children (51%).
Attitudes around being a landlord remained positive and 89% of those surveyed said that they are satisfied with their current tenancies.
Landlords were also asked to comment on the level of communication they have with their tenants.
The majority (39%) speak to their tenants every two to three months and 27% once a month.
John Heron, director of Paragon Mortgages, said: “It has been a steady and progressive start to 2012.”
But he said more needed to be done to stimulate demand.
“Whilst landlords are still benefiting from attractive market conditions, there is still a long way to go to meet the increasingly high level of tenant demand,” said Mr Heron. .
“More investment across the private rented sector is needed during the coming year to help to meet this demand.”
