Rents rose in every region of GB in September, the first time since January according to Hamptons International
Latest Hamptons International Monthly Lettings Index report – September 2018 headlines ‘Landlord purchases fall by £5.2 billion in 3 years’.
The report reveals that in H1 2018 landlords spent £12.1 billion on new buy-to-let purchases, £5.2 billion or 30% less than in H1 2015 (£17.3 billion).
In London landlords spent £3.5 billion purchasing rental homes in H1 2018, 40% less than in H1 2015 and 22% less than H1 2017.
Rental growth across Great Britain accelerated as the average rent on a new let property rose to £980 pcm in September, up 1.6% year-on-year according to Hamptons.
Commenting Aneisha Beveridge, Head of Research, Hamptons International, said:
“The total value of homes purchased by landlords has fallen by over £5 billion in just three years. This is due to landlords buying fewer buy-to-lets and investors spending less on the homes they do buy. With two out of five London based landlords looking outside the capital to buy their investments in search of higher yields and lower stamp duty bills, the average price of a home bought as a buy-to-let has fallen by 7% since 2016.
“Rental growth in Great Britain continues to gradually pick up. Rents rose in every region across Great Britain for the first time since January. London rents returned to growth for the first time in four months, fuelled by a pickup in Inner London.”
Read the Hamptons International Monthly Lettings Index report – September 2018 in full click here.