Buy-to-Let becomes less attractive as an investment.
It would appear that buy-to-let as an investment is becoming less and less attractive, that is the opinion of the Chief Executive of Hargreaves Landsdown Ian Gorham who was quoted in the Mail on Sunday as saying a buy-to-let investment is just too expensive and too much like hard work.
The year 2015 has certainly seen a turning point in the popularity of buy-to-let, it could well be remembered as the year annus horribilus for the industry.
Leading up to the election the only fear that existed around the lettings industry was the possibility of a Labour government or Labour led coalition, the election saw the Conservatives take office with a majority and everyone breathed a sigh of relief, this was to be short lived.
Since taking office the government has introduced a series of new regulations dealing with the way the lettings industry operates, Landlords have come under more and more scrutiny in more ways than one, from the way they deal with tenants to changes in taxation on landlords income.
Britains best known Landlords Fergus and Judith Wilson announced in June of this year that they were selling up some of their portfolio pf properties, just recently they announced they were exiting the business completely and had sold up the remainder of their properties to a consortium of foreign buyers.
Higher stamp duty for buy-to-let is a further nail in the coffin for an industry that has been under attack since the election, higher stamp duty is unlikely to result in a rush to buy next year but the changes to tax for buy to let investors will surely have a further negative impact over the next few years.