As many as one in five buy to let landlords are thinking of selling up, said a report in the Express newspaper on the 2nd of September 2018.
So, if you are thinking of joining that exodus – or want to capitalise on an existing property to enhance or expand your portfolio – how long is it likely to take to sell?
In figures released by Landlord Today on the 17th of January 2019, the average interval between its first listing and acceptance of an offer is currently 38 days.
Estimates vary widely, though, where the website yieldit’s average of 38 days is notable quicker than Rightmove’s 66 days or the 102 days cited by Post Office Money.
Sales of property that has been let to students typically lag behind the 33 days that may be achieved by standard residential lettings, says Landlord Today – with 38% of student accommodation selling in less than a month, compared to the 57% of residential properties selling in that period.
The buoyant conditions and relatively fast turnover of buy to let properties suggest that the market is somewhat healthier than suggested by the warnings issued last September.
Many landlords might be thinking of selling up, but their place is being taken by just as many prospective new landlords, or those looking to expand their portfolios, who are eager to snap up competitively priced buy to let property – and to move fast when it comes to completing the transaction.