Large Drop In New Rental Properties In UK Towns And Cities

Some 40% of key towns and cities across the UK experienced falls in new rental properties being listed in September compared to the previous month, new research shows. There are signs that it is due to landlords being affected by changes in the buy to let sector as eight out of 10 locations which saw a decline in new rental listings in August also did so in September. The study from property crowdfunding platform Property Partner analysed data for 89 towns and cities in September and compared the results with figures from August.  Read more on the Property Wire website.

Number Of Homes To Rent Decreases

The repercussions of the government’s stamp duty hike on second homes may already be starting to bite. According to research by Property Partner, new rental properties listed by landlords in May were down 5.7% on March levels before the surcharge was introduced. May saw 15.4% drop in new rental property listings compared to April with 91% of towns and cities experiencing fall in supply. New rental properties listed in London dropped by 14.1% last month. After the stampede of landlords putting rental properties on the market in April, last month saw a sizeable, but not altogether surprising, 15.4% drop in new rental listings. Read more on 24dash.

Landlords ‘Forced Into Debt’ If Interest Rates Rise By 2.5%

Buy to Let in seven out of 10 UK towns and cities could become unprofitable if interest rates rise by just 2.5% according to Property Partner. The average investment property would be making an annual loss of £325, the property crowdfunding platform report. Property Partner looked at more than 100 of the largest towns and cities in the UK, to see what impact interest rate rises, coupled with the changes to mortgage interest tax relief, would have on local buy-to-let markets. By 2020, buy-to-let investors will have lost higher rate tax relief on their mortgage interest payments. Read more on 24dash.