27th January 2016
Buy to let demand keeping UK housing market buoyant
In December the UK housing market saw an unseasonal rise in demand with evidence suggesting this is due to an increase in buy to let investors.
An extra 3% stamp duty levy is due to come into force in April which will affect buy to let property and second homes and this could be behind the lift in demand, says the latest monthly residential report from the Royal Institute of Chartered Surveyors (RICS).
It says that demand for properties reached a three month high in December and the month saw the first rise in new instructions since the beginning of 2015 with evidence pointing to a jump in buy to let interest leading this demand.
Potential buy to let investors are looking to pick up properties before the increased stamp duty levy comes into force in April. If that is the case, then we can expect to see the housing market heating up further over the next few months.
We are experiencing a lack of supply and a strong demand for buy to let property in the area. If you are currently on the market and not yet sold please call us for a free, no obligation market appraisal.