Tuesday, 1 November 2016

Buy-To-Let And Second Homes Made Up A Quarter Of All Property Sales This Summer

A quarter of properties snapped up by buyers in the summer were either as a buy-to-let or a second home. Despite typical stamp duty costs tripling for second home buyers in April, HMRC data shows that 56,100 of 235,000 property purchases in the third quarter included the additional surcharge. This stamp duty hike clawed in an extra £440million for the taxman in the three month period to September. The statistics show in the three months of April, May and June, 30,300 of 207,900 purchases were for second properties, indicating investors had already rushed to beat the 1 April hike. This data indicates that despite the extra costs and the EU referendum decision, appetite for buy-to-let remains robust. Read more on the Daily Mail website.

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