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Despite Rightmove recording its busiest ever Q1, BTL investors were increasingly scarce - down 27% from March 2015.
It appears that the reported rush to beat the April 1st stamp duty deadline petered out at the end of February.
Sam Mitchell, Rightmove’s Head of Lettings, comments:
“This waning of interest definitely seems to predict a slowdown in the buy-to-let market, but what’s not yet clear is if this will only turn out to be a short-term pause. It could be that some investors are waiting until the tax changes have some time to bed in before they review their business and continue to make purchases. If this removes some of the competition for smaller properties then it could spell good news for many first-time buyers with a deposit ready as they may find now is the ideal time to make a move.”
Greater London (+1.3%) and the North West (+1.1%) saw the biggest increases in rental yields during March.
Sam Mitchell, Rightmove’s Head of Lettings, comments:
“This waning of interest definitely seems to predict a slowdown in the buy-to-let market, but what’s not yet clear is if this will only turn out to be a short-term pause. It could be that some investors are waiting until the tax changes have some time to bed in before they review their business and continue to make purchases. If this removes some of the competition for smaller properties then it could spell good news for many first-time buyers with a deposit ready as they may find now is the ideal time to make a move.”
Greater London (+1.3%) and the North West (+1.1%) saw the biggest increases in rental yields during March.
What do tax changes mean for the rental market? Find out with our new stats: https://t.co/nJEPyvq9J1 #rental #news pic.twitter.com/elWHXcohj8— Rightmove (@rightmove) April 18, 2016
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