The Stamp Duty surcharge on the purchase of buy-to-let properties is causing concern among ARLA letting agents.
The organisation reports that two in three (62%) agents predict the changes from April 1 will push up rents, while 65% predict they will push landlords out of the market.
ARLA also reports that 24% of agents have seen a rise in buyers looking to complete on buy-to-let properties by the April 1 deadline.
ARLA managing director David Cox said: “Buy-to-let landlords determined to complete purchases before the changes come into force in April are storming the UK housing market.
“But subsequently, we’re very likely to see the number of buy-to-let properties on the market begin to decrease, and this will most certainly have a detrimental effect on renters across the country.”
You will need to be a real fair weather landlord to bail out at the first sign of adversity. Especially when George realises he needs to reverse his spontaneous decision on stamp to ensure he gets elected as PM.
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