18 Oct

Investors showing strong buy-to-let interest

Investors showing strong buy-to-let interest

There has been a rise in interest from buy-to-let landlords and property investors despite the stamp duty changes introduced earlier in the year.

A report from Rightmove shows investment enquiries have risen by 30 per cent since May following a slight dip in April when the three per cent stamp duty charge was introduced on second homes.

"Investor activity has bounced back following the stamp duty changes, though some agents report that many investors are looking to knock sellers down on their asking prices to make up for the additional stamp duty they now need to pay," said Rightmove’s head of lettings Sam Mitchell.

He added: "New rental supply has held up despite concerns that the stamp duty changes would lead to less fresh stock."

Rental activity has remained strong in London, with a 15 per cent increase in new rental properties coming to the market, with the top returns seen in East Croydon and Greenford.

Income from rent has also slightly increased by 0.5 per cent to national average of £779. However, London has seen a 0.7 per cent decline in rents compared to the previous quarter and 1.5 per cent lower than at the same point in 2015.ADNFCR-1222-ID-801826888-ADNFCR

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