80% of property professionals plan to expand in 2019

20% said they are not making any changes to their portfolio in 2019 and nobody questioned planned to reduce their portfolios.

Of the 80% looking to expand, 39% are looking to buy in the South East of England, 25% said Wales, 13% are looking in the Midlands and 16% revealed are not buying property in the UK.

No respondents said they were looking to buy in London.

Respondents seem confident about expanding, despite 51% revealing they are uncertain of the conditions for property investors in 2019 and 28% believing conditions will not improve in the coming year.

When asked what the biggest challenge for property investors had been last year, 40% of respondents cited affordability, followed by ongoing Brexit uncertainty at 32% and accessing funding at 17%. 11% said government legislation was the biggest challenge in 2018.

During 2018, 48 of the 101 respondents revealed they had purchased residential properties as investments and 43 respondents had bought commercial properties. 21 said they bought foreign properties as investments but the majority (50 respondents) said they didn't purchase any property in 2018.

Gareth Lewis, commercial director at MT Finance, commented: “The UK property market has seen a reduction in high value purchase transactions. This is reflected in the latest data from HMRC, who revealed stamp duty receipts fell by £1 billion last year.

“The results from our Q4 Property Investor Survey highlight how higher stamp duty and a lack of affordability has pushed property investors out of London, where more rental properties are vital.

“While there is continuing uncertainty, particularly over how the Brexit negotiations will unfold, UK property investors remain resilient. The fact that property professionals have revealed they will continue to invest in the UK, despite the uncertainty and numerous challenges, bodes well for the future of the market.”