The number of landlords who are planning to expand their property portfolio is at a four-year high, a survey reveals.
The findings from Paragon highlight that 19% of landlords say they will be investing in property over the next year.
The survey found that those landlords with larger portfolios are the most likely to buy, with 31% of landlords with 11 to 19 properties saying they will invest.
For those who manage at least 20 buy to let properties, 28% say they are looking to buy more.
Landlords planning to expand
This is the first time in four years that a majority of landlords have been planning to expand, the mortgage lender reveals.
There are also regional disparities between landlords, with 26% of those questioned in the East Midlands saying they are buying.
In the North East, the figure was 24%, and in Wales it is 28%.
However, just 17% of landlords say they are now looking to sell at least one of their investment properties over the next 12 months.
Landlords wanting to buy
This sees the number of landlords wanting to buy match the same level seen in the second quarter of last year - when lockdown restrictions were unveiled.
Paragon's managing director, Richard Rowntree, said: "It is fantastic news that more landlords are looking to buy than sell for the first time in more than four years.
"This is good for the industry and is good for tenants."
He added: "More private rented sector investment contributes to higher standards and more choice and the moderation of rents for those who rely on the sector for affordable, flexible housing."
The news has also been welcomed by Simon Thompson, the managing director of Accommodation for Students, who said: "Confidence is rising among landlords and there are growing numbers of first-time landlords entering the sector.
"While there is economic uncertainty, it does appear that landlords are increasingly confident when it comes to investing which is good for tenants."
Older tenants head to rural areas
Meanwhile, it has been revealed that older tenants have been heading to rural areas as part of the pandemic flight from towns and cities.
The findings from the Deposit Protection Service (DPS) found that older tenants are more likely to move to the countryside – while younger renters preferred to stay in tows.
The firm’s managing director, Matt Trevett, said: "The lifting of government restrictions on moving house led to shifts across the renting democratic as tenants reassessed their needs.
"Older tenants seem to be interested increasingly in rural locations because of lockdown restrictions causing disruption, including the permanent or temporary closure of venues and services."
