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Buy-to-let sector attracts more landladies

28th March 2006 | back to article listings BACK    print this article PRINT

While it remains a male-dominated industry, the buy-to-let sector seems to be undergoing a welcome culture change, with more and more females attracted to the role of landlady.

The research on more than 20,000 landlords and landladies was conducted by Landlord Mortgages and there are clear signs that women may well have a more equal representation in the industry before long.

So far this year, women have bought more than 24 per cent of all buy-to-let properties, representing a notable increase on the 20 per cent in 2005. Then again, the figures for 2003 and 2004 were 21 per cent and 22 per cent respectively, making last year something of a disappointing setback.

Female investors seem to be much more cautious than male, according to the research, demonstrating a greater tendency to put down a larger deposit to reduce monthly payments.

On the other hand, it appears that women are willing to splash out more on their buy-to-let investments, with an average of £142,000 comfortably dwarfing the £120,739 spent by the average male investor.

Possible reasons would probably have to delve into areas of social science that are best left to the experts, but one of the proposed answers is that men have a greater proclivity for renovation work and so are willing to buy slightly run-down properties.

The areas that boast the greatest proportion of landladies in the buy-to-let sector are the south-east, London and the north-west and this is a statistic that has remained fairly constant for a few years.

The south-east and the north-west may be set to welcome more buy-to-let landladies in the future, however, because the number in London seems to be on the decline.

Lee Grandin, managing director of Landlord Mortgages, has welcomed the findings of the survey and he suggests that even these statistics underestimate the number of landladies in the market.

"It is great to see that the number of landladies is steadily increasing as more and more women realise the investment opportunities offered by residential property. It is also interesting to note that when it comes to financing, female property investors appear to be more cautious than their male counterparts – realising that a larger deposit means smaller monthly payments and less stress," he commented.

"However, I don't believe that these figures capture the true extent of female involvement in the residential property market. We know that almost 40 per cent of property investors purchase and manage their portfolio as a married couple so I'm sure there are many more landladies than this research shows," he added.

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