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Monday, May 16, 2016

BTL investors buy cheaper property

April statistics from estate agency firm agents Countrywide sees the average price paid by a BTL investors across the UK down 8.3% from its March average. 

The average BTL property purchased in April ( post the introduction of additional stamp duty on second homes)  is £178,000 - down from March's £194,000.

As for London, the average BTL purchase price fell more steeply, at £365,000 in April, compared to a figure of £436,000 during March.

Countrywide's Research director, Johnny Morris, comments -

 “Rather than being dissuaded by the new 3% charge it seems that landlords are already adjusting their behaviour. In response to the extra purchasing costs many are choosing to buy cheaper homes that offer a higher yield and of course a lower stamp duty bill.
It’s too early to tell whether this is simply the after effects of the stamp duty rush or the start of a longer term trend.”

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