Landlords on the ladder feel financial boost of buy-to-let tax dash
- Flurry of buy-to-let property interest in March pushes total annual returns to 12.2% for existing landlords
- Across England & Wales rent rises average 3.0% over the last year, to now stand at £791 per month
- Midlands powerhouse pushes record rents, reaching £597 in West Midlands and £613 in East Midlands
- Minority of tenants still feeling financial squeeze, with 9.1% of rent in arrears, up from 8.8% last month
Existing landlords have already felt an unexpected financial bonus from the Government’s stamp duty hike aimed at new buy-to-let purchases, according to the latest Buy-to-Let Index from Your Move.
Taking into account both rental income and capital growth, but before property-specific costs such as maintenance, the average existing landlord in England and Wales has seen total returns rise to 12.2% over the twelve months to March.
This is a clear jump from 10.7% seen a month before, over the twelve months to February, and is also the fastest annual rate of return for existing landlords seen since November 2014, when the same measure last reached 12.3%.
LSL England & Wales Buy to Let Index - March 2016