CHL Mortgages released its quarterly survey last week to reveal a growing confidence in the property sector that has seen the return of the professional landlord.
The survey is designed to canvass opinion among landlords on a regular basis and allows us to see how they are thinking about the current state of affairs and the future. Of those that responded to this quarter’s questionnaire eighty one percent were keen to express the opinion that the future looks fairly rosy, as far as they are concerned.
The most interesting part of this attitude is the reason that they gave for this change. In the opinion of those surveyed, the credit crunch has lead to the BTL market shedding its ‘get rich quick’ image and returned to being a domain for professionals.
They believe that pressure was put on the market by amateur landlords flooding in to try and make a quick buck but has been relieved by the recession, and many are grateful for that much at least.
The survey revealed that 58% of respondents considered their property portfolio to be a profession rather than a hobby, and it also showed a strong preference for managing their properties themselves rather than allowing a letting agency to do so.
It is a good feeling to know that at a time where the buy to let sector is set to become very important it is in the hands of professionals
