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Thursday, February 11, 2016

RICS predict rush of BTL investors

RICS surveyors are predicting a rush of BTL buyers wanting to get in before the April stamp duty change.

The latest RICS Residential Market Survey predicts -
  • Increased interest from BTL investors will push up prices 
  • Property prices and rents to rise over the coming year
Three quarters of RICS surveyors who took part in RICS Residential Market Survey for January expect increased activity from BTL investors wanting to buy before the Stamp Duty changes.
Surveyors also reported a slight rise in properties coming to market across the UK, particularly in London, easing supply/demand pressures.

RICS, chief economist, Simon Robinsohn commented: 

'The rise in new instructions in January, although modest, is very welcome.

However, with buy to let investors rushing to get into the market ahead of the stamp duty hike, the near term pressure on prices is if anything intensifying despite a higher level of supply.'

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