What Crockers–Alexander investor survey means for advisers
Selling plans among existing residential investors are rising, even as buying interest edges slightly higher, according to the latest Crockers People & Property Investor Insights survey with economist Tony Alexander (pictured).
That shift is playing out against a market where house prices are now more than 30% below their late‑2021 peak in real terms, with values back at 2019 levels despite lower mortgage rates and improved affordability.
The January survey of 297 investors shows “investor net buying intentions have fallen to the lowest reading on record for our survey.” Just 16% of respondents are thinking about buying another property in the next 12 months, up from 15% in November, but still well below levels seen before late 2022.
The big shift is on the sell side. The proportion of existing investors “thinking about selling” has jumped to 38%, from 32% in November, and “this gauge of selling plans has been trending up since the middle of 2023 and there is no indication of this upward movement ending.” Netting off buyers and sellers, a record net 21% of current landlords are considering selling in the coming year.
Shorter hold periods and changing purchase plans
Holding horizons are also shortening. While 27% of respondents say they have no intention of selling (or haven’t thought about it yet), “only 47% now say they will hold very long term – the equal lowest reading on record.”
Among those who are still looking to buy, 62% would purchase an existing property, 17% would buy new, and 21% would develop themselves. Alexander notes a “flattening to downward trend” in investors who would only buy existing stock, which he suggests is consistent with an upswing in new dwelling consents and an “upward” construction cycle.
Rents, tenants, and bank attitudes
On rents, there has been “a lift in the net proportion of existing landlords planning to raise their rents”, and the average rent increase targeted has “crept up to 4.1% from 3.8%” in November. However, Alexander cautions that one month’s data is not enough to call a renewed surge in rent growth, especially with “a shortage of tenants in many locations”.
Tenant quality remains a challenge, but is slightly less dire than late last year. After a record net 43% of investors in November said they were finding it hard to get good tenants, this has eased to a net 35% – still uncomfortably high.
Access to finance looks marginally better. For the second month running, a net 11% of investors say they are “finding it relatively easy to get credit should they need it.”
Top concerns remain “council rates, insurance costs, and maintenance costs,” with worries about falling prices easing, but anxiety about rising interest rates and regulation ticking higher.
For mortgage advisers, the survey underscores a market where more landlords are eyeing the exit, cost pressures remain elevated, and bank attitudes are softening only slowly – making proactive reviews with investor clients more important than ever.
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