A rush of landlords looking to purchase buy-to-let properties has been confirmed this morning by new figures from a national surveying and valuation firm.
Connells Survey & Valuation carried out an astonishing 86% more buy-to-let valuations last month than in December the previous year.
While the figure represented a slight monthly dip of 1%, this was far less than the usual seasonal falls in other types of valuations – for home movers, first-time buyers and people remortgaging.
John Bagshaw, director of the firm, said: “December’s results are a reflection of the ever-increasing demand for homes as investment opportunities.
“The added factor of the April 1 Stamp Duty increase has spurred many investors who might have been sitting on the fence to take the plunge.”
Altogether in December, mortgage valuation activity was up 29% year-on-year. That figure compares with the 9% growth between December 2013 and December 2014.
So, just how is this helping FTBs? Does anyone in government have a Scooby about the dynamics of the UK housing market?
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They don’t have a clue and refuse to listen. Great combination…
Jason McClean
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Considering this time last year everyone was sitting on their hands waiting to see which way the General Election went before they decided to spend/invest I can’t say I’m surprised with this figure at all, it’s not just because of the 3% SDLT kick in the goolies the ‘New Labour’ Conservative Govt have given us….. Considering those borrowing large amounts on BTL will get another kick as of 2017 when their mortgage interest tax relief starts to get taken away too you wonder what will happen then.
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