There was a spike in activity from potential buy-to-let
investors during the third quarter, suggesting the effect on demand of a hike
in stamp duty for buyers of additional properties is wearing off. Rightmove
reported a 30% rise in the number of enquiries from buy-to-let investors
between the second and third quarters. There was also a 6% increase in the
number of new rental listings than a year before, though the average asking
rent was 3.2% higher at £779 per month. From April 2016, purchases of
additional properties are subject to a 3% surcharge on top of basic stamp duty
rates. The government wants to cool demand in the market from investors,
reducing competition for first-time buyers. Read more on the IBT website.
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