Virtually three quarters of PRS landlords (74 per cent) are extremely confident in the property market’s predicted performance this year according to the latest research from a mortgage intermediary.

Landlords owning HMOs (Housing of Multiple Occupation) have the highest level of confidence at 84 per cent, runners up were those with student accommodation at 84 per cent, and those with five plus properties at 82 per cent.

When evaluating their projected performance of their rental properties over the next twelve months 71 per cent are very confident, and those with five plus properties were the most optimistic at 78 per cent.

Experienced portfolio landlords with over five years in the sector were more confident at 73 per cent whilst portfolio landlord with less experience stands at 69 per cent.

The ‘extreme’ confidence is most certainly down to demand outstripping supply as 73 per cent stated they had seen a rise in tenant demand since July last year, and 27 per cent said the increase is significant.

Rents are continually rising because of mortgage increases, demand and further PRS charges with 73 per cent stating they increased rents over the past year;52 per cent did so to offset ongoing costs whereas 28 per cent increased rents because of the price in their area.

 A spokesperson for the mortgage lender says; “Given the pivotal role that the BTL industry plays in supporting the residential market and ensuring the maintenance of the much-needed supply of homes, it’s encouraging to see these levels of confidence,”

“Despite the fact that many landlords are facing higher operating costs, and additional to the inflationary pressures that are impacting everyone, the continued supply of good quality, well maintained rental properties is a must.