Property investors are moving their focus North away from London to Manchester in order to maximise rental yields as Stamp Duty and other regulatory changes bite. Figures show that investment in London by residential property investors has more than halved since the introduction of the Stamp Duty Surcharge in April 2016. In the 1st quarter of 2017 there were just 1,126 mortgaged purchases by residential landlords compared to the average in preceding quarters of 2,500. At the same time residential investment in Manchester has dipped far less. Falling to 840 purchases by residential landlords compared to the average of 1000 in 2014 & 2015.
Many landlords are targeting rental yield over expected capital gains as the housing market in London slows after the introduction of much higher rates of Stamp Duty for investment properties.
Take advantage of our discounted landlord insurance rates
No comments:
Post a Comment