Buy to let market remains buoyant despite Brexit
According to a survey by Simple Landlords Insurance, four in five landlords will push ahead with their plans to invest in buy-to-let. 70% of those polled in the survey said they will not alter their investment plans despite economic uncertainty as a result of Brexit, stamp duty increases and the government’s decision to reduce mortgage interest tax relief on buy-to-let properties.
The stamp duty increase, introduced in April of this year, saw buy-to-let lending figures rise dramatically in the first quarter only to fall in April. Despite a slowdown in buy-to-let investment in the months following April, the sector has since recovered and investor activity remains at healthy levels.
Any fears about what economic uncertainty and the extra stamp duty might mean for the buy-to-let sector have been swept aside by these latest figures, and London remains a leading destination for investment in residential property.
Further analysis released by Rightmove shows that new rental listings in the third quarter were up 6% when compared with last year. New supply in London remains steady, and this is good news for tenants looking to rent in the Islington and Newington Green areas.
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