The UK buy-to-let market has experienced a spike in the number of investor inquiries during the third quarter, suggesting activity has bounced back following a hike in stamp duty charges, reports IBtimes.
Property site Rightmove reports a 30 per cent increase in the number of inquiries from buy -to-let investors and aspiring landlords between the second and third quarters. New rental listings increased by 6 per cent compared to 2015, however the average asking rent was 3.2% higher at £779 per month.
“Investor activity has bounced back following the stamp duty changes,” said Sam Mitchell, Rightmove’s head of lettings, “though some agents report that many investors are looking to knock sellers down on their asking prices to make up for the additional stamp duty they now need to pay. New rental supply has held up despite concerns that the stamp duty changes would lead to less fresh stock.”