A surge in buy-to-let investors looking to swerve the new three per cent Stamp Duty surcharge from April is pushing house prices up, findings suggest.
- Increased interest from buy-to-let investors pushing prices up
- Number of homes coming up for sale increased last month, RICS says
- Property prices and rental costs expected to rise over next 12 months
While the number of homes coming up for sale may have Increased slightly over the last two months, stock levels are still down 21 per cent from a year ago, RICS said.
With strong demand, agreed sales increased ‘strongly’ last month, but many surveyors still consider London and the South East as offering poor value for buyers. Outside the capital, 65 per cent of surveyors consider current Property Prices either fair or below value.
Last month, data from the Office for National Statistics revealed that average house prices across the UK increased by 7.7 per cent in the year to November, with an average price of £288,000.
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Source: This is Money
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