Despite the price hikes causing trouble for first time buyers, it seems investors can always find a bargain, and are still able to source cheaper properties despite the rising property prices.
According to recent research, the average price paid by investors in April was £178,000, down from £194,000 in March, and £188,000 in April 2015. The average price paid by a London investor fell from £436,000 in March to £365,000, with city center landlords paying 16.4% less every month, and 8.2% less than in April 2015.
Despite these encouraging figures, average property prices have increased by over £1,000 in May, pricing many buyers out of the already very tight market. However, for Buy-to-Let investors this turbulent market could be good news, as more people are choosing to turn to private lettings instead of looking to take a step onto the property ladder.
On average, rental rates across the country increased by 2% since April 2015, whereas rents in the capital shot up a whopping 3.5%. Despite these encouraging figures, it is not enough to tempt 50% of investors to take the plunge and put their money into property following the stamp duty changes.
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