More Landlords Scouring For Agents And Properties
BTL investment is proving to be far more of an asset class due to the high increase in numbers of tenants looking for new ‘homes’, according to the latest data from a letting agent comparison website.
With the Chancellor’s July announcement of a stamp duty holiday for BTL investors and second home owners there has been a 21% increase in searches on the comparison website.
The data analysis by the website indicates that some investors are getting ready for their newly purchased properties to be let out and managed, with others considering buying new properties to let out.
Raj Dosanjh, founder of the website, said: “The stamp duty holiday has brought a flood of positivity across the property market.
“The increase in the number of comparisons run on our platform indicates landlords are looking to add to their portfolios, or that a new wave of landlords is looking to enter the market.”
The 21% increase in landlord searches to compare lettings agents is throughout England, however there are some areas/regions that have much higher interest levels; Manchester rose by 31% and East London by 27%.
Dosanjh added: “Traffic on the site increased prior to Rishi Sunak’s announcement, based upon rumours that the holiday may apply to the buy-to-let sector.
“From the 8th of July, when it was confirmed that the holiday applied wider than first time buyers, the number of letting agent comparisons conducted increased dramatically.”