Tumbleweed as property investors desert the market

Property investors are deserting the market, with estate agents haart reporting a 55% monthly drop in buy-to-let sales during the first two weeks of April.

Haart reports that in March sales were flying – up 19% across its network on a monthly basis and 17% on March last year.

The firm says its average selling price (sold subject to contract) was £232,030 last month, up 12.1% on an annual basis.

It says that demand soared 26% in the UK, but dipped 5% in London, where the average house price (sold subject to contract) reached £560,390 last month.

x

Email the story to a friend



3 Comments

  1. LandlordsandLetting

    I guess this was pretty predictable, given the buying binge in the first 3 months of 2016 following the idiot Osborne’s announcement that he planned to make even more attacks on small landlords.

    I’m old enough though to remember a similar blunder by Nigel Lawson in 1988 when he gave ADVANCE notice of the removal of joint mortgage tax relief for couples buying a house.

    Report
  2. SarahPercy33

    Well done Mr Osborne!  We have seen a significant number of tenant applicants advising the reason for them moving is that their Landlords are selling up.  Not sure where Mr Osborne plans for the approximate 18% of our population that currently live in rented houses are going to live with the rapidly diminishing stock – not to mention the huge amount of housing benefit claimants that are desperate for social housing but have no option but to use the PRS to house them……..   I wonder what Mr Osborne’s cunning plan is regarding housing all theses people when the PRS stock is so drastically reduced!

    Report
    1. Woodentop

      I wonder will it get worse as the heat is being turned up. I see that HM Inland revenue are now demanding rent payment records of landlords from letting agents (legally required to supply the information). Used to apply to non-doms but now everyone. While one may agree that landlord tax dodgers should be caught, many may throw in the towel and if they get a whiff of labour getting in …. 3 year protected rights etc will worry them senseless? Many can’t see and I suspect don’t realise yet the logic of conservative policy to tax landlords on gross.

      Report
X

You must be logged in to report this comment!

Comments are closed.

Thank you for signing up to our newsletter, we have sent you an email asking you to confirm your subscription. Additionally if you would like to create a free EYE account which allows you to comment on news stories and manage your email subscriptions please enter a password below.