Property investors in UK go downmarket for higher returns
UK landlords are heading downmarket. Battered by tax hikes, real estate investors are seeking out cheaper homes in the north of England that incur lower stamp duty and offer higher returns than properties in other parts of the country. If they're buying at all. The latest investment figures show that landlords spent 30pc less in the first half than in the same period in 2015, before the stamp-duty increases were announced. Declines in pricier areas, such as London and southeast England, were even more pronounced. The shift toward cheaper areas could create a "risk for the future" because they're more vulnerable in a downturn. Demand for rental properties has traditionally been higher in London because of a lack of affordable homes for sale and the city's younger and more mobile population.
Tags : INTERNATIONAL