Although buy to let investment topped £12b in the first half of 2018 this figure is down almost a third on that spent just three years ago.
In a recent report on landlordtoday.co.uk the latest report from Hamptons International indicated that the total value of properties bought for the landlord’s sector saw more than a £5b drop compared to the same period in 2015. The report also showed that it was lower than the £11b spent by landlords in the same period in 2013.
The number of properties purchased by the rental market was just over 64,200, with the South East seeing the biggest drop in acquisitions by almost a half. Overall this was a third lower than in 2015. The average spend was also slightly lower at just over £174,000 than last year but this could be due to the volume of properties purchased in cheaper property areas of the country.
Head of research at Hamptons International, Aneisha Beveridge said: “With two out of five London based landlords looking outside the capital to buy their investments in search of higher yields and lower stamp duty bills, the average price of a home bought as a buy-to-let has fallen by 7% since 2016.”
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