Flats and semi-detached houses have soared in popularity with housing portfolio holders, according to Paragon Mortgages.
In the lender’s quarterly PRS Trends Survey, 16 per cent said they expect to increase the size of their portfolio in the fourth quarter of 2012, while professional landlords are more likely than their smaller-scale peers to purchase further rental property, 20 per cent compared to 6 per cent.
Terraced houses have remained a popular investment option, however, this quarter has seen the popularity of flats and maisonettes, semi-detached and detached houses rise to their highest level yet this year.
Of those asked, 58 per cent said that they were looking at flats and maisonettes and terraced houses, 30 per cent are looking at semi-detached houses and 21 per cent at detached houses.
Paragon Mortgages managing director John Heron said: “It is very encouraging to see private landlords looking to invest in a wider variety of property types.
“This may well be in response to the fact that we are starting to see higher demand for larger rented properties from families who are choosing the private rented sector because they do not want to, or cannot buy in today’s difficult economic environment.
“This responsiveness of the PRS to changes in the shape of housing demand is one of the major strengths of the sector and it would be good to see policy makers work with private landlords to make more of this capability.”
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