Get Even More Visitors To Your Blog, Upgrade To A Business Listing >>

haart Estate Agent Reports Sale Prices To Landlords Are Down By 12%

haart Estate Agent Reports Sale Prices To Landlords Are Down By 12%

haart Estate Agents has released a report detailing the number of units for sale, including some interesting statistics around landlords and their activity in the buy to let marketplace. haart reports a 7.9% increase in the number of landlords which are registering to buy, a figure which has continued to grow throughout 2019.

However, the more interesting statistic is that sale prices to landlords are down by nearly 12%, which reflects the increased costs which private landlords face with purchasing property taking into consideration the 3% Stamp Duty Surcharge.

This is a sign that buy to let investors are recognising that there is value in the market, but that they have to reflect the increased costs incurred due to the removal of interest tax relief and the stamp duty surcharge as outlined above.

Paul Smith, chief executive of haart, said: “Three years on from George Osborne introducing the 3% hike in stamp duty surcharges on second homes, landlords are beginning to come to terms with the additional costs and are cautiously entering the market again.”

“Landlords are not back in their hundreds, the number of registrations is still down 22% on the year. Whilst some brave souls are re-entering the market, the hammering buy to let investors received in terms of various tax changes is still fresh in many of their minds.”

“Clearly investors are recognising the value that can still be found in buy-to-let property, especially in comparison to the overvalued and faltering stock market.

“Although the property market hinges on confidence, the FTSE 100, gold and cash are far more volatile to socioeconomic impact, so investors are increasingly returning to property where they deem their money safest, and where the yields are highest.”

These attacks from the Government are compounded with an attack on lenders, making it increasingly difficult to secure a buy to let mortgage, with increased restrictions on interest cover now really biting in, also many surveyors are down-valuing property due to the uncertainty around Brexit, which is also impacting investors confidence in the UK house prices.

This post first appeared on Web Design Company India, please read the originial post: here

Share the post

haart Estate Agent Reports Sale Prices To Landlords Are Down By 12%


Subscribe to Web Design Company India

Get updates delivered right to your inbox!

Thank you for your subscription