Some 33% of people in the UK want to own a buy-to-let (BTL) property in the future, a study from a lender found.
A survey of 2,000 people carried out by Opinium and commissioned by Market Financial Solutions found that this was more prevalent in younger respondents.
Some 54% of those aged 18-34 aspired to own a BTL property, while just 14% of respondents aged 55 and over felt the same.
Property investment was considered a good way of building long-term wealth, as said by 60% of those polled, while 37% said they would rather invest in a BTL property than stocks and shares.
Just over half – 53% – agreed with the statement that “real estate is a safe and stable asset to invest in”.
The survey also found that if respondents were to win £1m in the lottery, 58% would use some or all of it to buy property. Again, this was truer for those aged 18-34, with 68% saying they would do this.
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Despite having this aspiration, 57% of respondents between the ages of 18 and 34 did not like that it was harder to invest in BTL property today than it used to be because of higher house prices.
Paresh Raja, CEO of Market Financial Solutions, said: “It has become popular over the past decade to bash buy-to-let investing as being increasingly unappealing. Clearly, however, that is far from the case.
“The rise in house prices and borrowing costs, coupled with tighter rules and regulation in the rental market, has undoubtedly caused challenges for both current and prospective landlords. I am sure this will have given some people reason to question whether BTL ownership is the right route for them, but these survey results underline the love affair that the UK has with bricks and mortar.
“Many people aspire to homeownership and property investment. The stability of the market, along with the opportunity for the value of the asset to rise in the longer term alongside a rental income, all contribute to this. Indeed, if BTL mortgage rates do come down in the coming months as expected, we may well see more first-time landlords entering the market.”
