Buy-to-let landlords now returning to the market after Stamp Duty pause.
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.