There is still appetite among landlords to buy new property despite the recent changes to stamp duty on additional investment properties, new research from Landbay has indicated.

In the wake of the Budget, 27% of landlords told Landbay they are still looking to purchase properties. Among those willing to buy, there was an equal split of 31% between landlords with four to 10 properties, and those with portfolios of 11-20.

The vast majority (77%) own their properties and portfolios through a limited company structure.

Landbay said the main reason given for pushing ahead with purchases was a desire to build a property portfolio (56%), while 13% based their intentions on a potential increase in house prices.

Sales and distribution director at Landbay, Rob Stanton, commented: “Even with the changes announced to stamp duty, there is still clearly an appetite among landlords to grow and purchase additional properties.

“While there are undoubtedly those focusing on what they have right now, we have certainly seen landlords remaining active in the market and capitalising on the investment opportunities that remain.”

Landbay’s research also found that landlords with rental properties in London were most likely to be weighing up buying additional properties in the next 12 months (34%), followed by those in the North West (20%).

“While house prices on average have remained robust, we know this isn’t the picture in all areas of the country,” Stanton added.

“Given the complex residential market we find ourselves in, landlords are working with knowledgeable local brokers to identify opportunities and are pushing ahead – factoring in the increase in stamp duty into their negotiations.”

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