Buy To Let Market Recovers Quicker Than Residential

According to research from Leeds Building Society application figures between March and mid-July buy-to-let mortgages were higher than residential mortgages.

As a result of covid-19 the survey revealed landlords are looking at different types of properties in new locations.

Of those surveyed half of the landlords still want to purchase but are taking a different approach to their plans.  79% that were buying before the pandemic have changed their plans.

29% of the landlords are reconsidering the type of property they are looking at buying.  29% are looking at new locations.  20% are re-considering what they are willing to invest and 22% are re-thinking their timings.

The survey by Leeds Building Society of those that were buying before lockdown have no plans to buy now.

Comment

It is indicative that property investors have been stock piling cash for new investments whereas normal purchasers for residential property have either been furloughed, on reduced pay or even made redundant.