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Landlords and investors return to market

Wednesday, October 12, 2016

Landlords and investors return to market

Enquiry levels indicate that landlords and buy-to-let investors are returning to the market after a lull following Stamp Duty changes in April, according to Rightmove. The portal’s Rental Trends Tracker for Q3 2016 shows buyer enquiries from potential landlords and investors are now back, up 30% on May figures, following a short-term dip caused by the additional Stamp Duty charges that came in on April 1st this year.

New rental listings on Rightmove for the quarter are 6% higher than the same period in 2015, with average rents up 0.5% on the quarter and 3.2% annually to £779pcm. Sam Mitchell, head of lettings for Rightmove, said: “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. New rental supply has held up despite concerns that the Stamp Duty changes would lead to less fresh stock.”

 


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