A recent survey conducted by Landbay has revealed that two-thirds of buy-to-let owners are unwilling to sell their properties. This is despite the fact that the UK housing market has seen a significant downturn in recent years, with house prices falling and rental yields decreasing.
The survey, which was conducted among 1,000 buy-to-let owners, found that 66% of respondents were unwilling to sell their properties, with only 34% saying they would consider it. The main reasons cited for not wanting to sell were the desire to maintain a steady income from rental income, as well as the belief that house prices will eventually recover.
The survey also revealed that the majority of buy-to-let owners are not taking advantage of the current market conditions. Only 5% of respondents said they had reduced their asking price in order to attract buyers, while only 8% had taken out a mortgage holiday in order to reduce their monthly payments.
The findings of the survey suggest that many buy-to-let owners are taking a wait-and-see approach to the current market conditions. This could be due to a lack of confidence in the market, or simply because they feel they can weather the storm and wait for house prices to recover.
It is clear that the current market conditions have had a significant impact on the buy-to-let sector. However, it appears that many owners are still unwilling to sell their properties, despite the fact that house prices have fallen and rental yields have decreased. This suggests that buy-to-let owners are confident that house prices will eventually recover and that they can maintain a steady income from rental income.