Buy-to-let landlords now returning to the market after Stamp Duty
Investment levels in the ever popular buy-to-let market have
started to pick up once again following the slight slowdown that
happened after the UK Government decided to implement a higher rate
of tax on landlord buyers.
In April this year landlords faced a new reality being forced to
pay a higher rate of Stamp Duty - an extra 3% on top of the tax
they would have paid in the past - for buy to let properties. This
initially had an adverse impact on supply. Many bought before the
deadline to avoid the new tax and landlord activity plummeted in
the weeks after the tax came into play.
Rightmove tracking data has shown that enquiries from existing
and new landlord investors have risen by about 30% since May
showing a rise from the decline that took place after the new Stamp
Duty level was introduced.
There had been worries that the stock of rental properties
available to tenants would fall but the private rental sector (PRS)
appears to have managed to maintain stock with activity picking up
which is good news for the supply of rentals for tenants! For
Buy to Let advice or rental properties contact ADAMS on 01242
603601 your local Sales and Rental specialists.