More than half of buy-to-let landlords intend to grow their portfolios in the coming year, according to new research from Landbay, marking a sharp rebound in buying appetite since the 2024 Autumn Budget.

The survey, carried out in May among landlords with a combined 3,000 rental properties, found that 52% plan to acquire more homes over the next 12 months. This represents a significant rise from the lender’s previous poll taken after last year’s Budget, when just 27% said they intended to buy. That announcement had introduced an almost immediate increase in stamp duty on additional investment properties.

This time, nearly two-thirds of landlords preparing to purchase (64%) said they will account for higher stamp duty in negotiations, while just over half (52%) expect to target properties requiring minimal work to meet forthcoming EPC regulations.

On average, landlords plan to add three homes to their portfolios, though some respondents suggested they could buy as many as 10 or more. The strongest appetite is coming both from smaller non-portfolio landlords, who own fewer than four mortgaged properties, and from larger operators with 16 to 30 homes.

Regionally, the South East leads with a quarter of landlords intending to buy, followed by London and the North West.

Rob Stanton, sales and distribution director at Landbay, said: “While there are those that try to talk down the buy-to-let sector and focus solely on the obstacles, it is fantastic to see many landlords are still looking at the opportunities.

“Whether it be high tenant demand, strong rental yields or viable investment opportunities up and down the country, landlords are setting their sights on growing their portfolios – which is fantastic news for the one-in-five households that rely on the private rented sector.

“Buy-to-let lenders – including Landbay – continue to demonstrate that they are ready and willing to lend to support landlords and their ambitions.

“Furthermore, the sector is supported by tremendous advisers who are well placed to help landlords of all sizes to identify growth areas and navigate both their local market and the wider sector amid changing policy, legislation and economic conditions.

“Continued innovation from lenders and expertise from advisers is the winning combination landlords need to expand with confidence.”