Tenant demand fails to boost landlord confidence

As new figures demonstrates that landlord confidence in the buy-to-let market remains flat, Rick Flay from Belvoir Sheffield, the leading letting agent in Sheffield has found new evidence to support this theory.

Indicating that confidence in the buy-to-let market is still shaky, despite record tenant demand, the new figures revealed that just 57 per-cent of private residential landlords are more confident than last month in the lettings market, despite the media declaring the rental market to be extremely buoyant.

Rick, Director at Belvoir Sheffield, who offer a wide range of property to rent in Sheffield, said: “As there are no new properties coming into the marketplace from developers and because there is a lack of mortgages available, we remain in a static marketplace.

“Our own research here at Belvoir Sheffield indicates that online search trends have also taken a knock from the lack of property investors actively scrawling the internet for property advice and looking to place their properties with a lettings agent.”

An expert in online marketing, said: “Search trends for letting agency related terms have all seen a slide recently. Available monthly traffic for these sorts of terms has dropped and the year on year figures also show a decrease for the same period last year. This supports the viewpoint that investor confidence sure has taken a knock.”

Rick added: “Here at Belvoir Sheffield we are inundated with tenants actively looking for properties and we are in need of new landlords looking to place their properties with us. Although it has been great to have some buy to let mortgage providers like Paragon back in the marketplace, many landlords are struggling to obtain the green light and are forced to wait until the market stabilises and such mortgages are readily available. For those with the cash to spend, the rental property really is their oyster.”

Belvoir Lettings Sheffield is the One Stop Specialists for Lettings including Property Management, Tenant Find, Investment and Wealth Management Advice, Fit-outs and Renovations, Furniture Packs and Investment Property Insurances.

For more information, please visit: belvoirlettings.com/sheffield

* Residential landlord figures released by Upad.