Buy to let growing in the North, failing in the South
A lending trend data released by the Council of Mortgage Lenders has clearly indicated the general countrywide decline in Buy to Let Purchases, in particular since the introduction of a stamp duty surcharge last April.
Whilst demand for our main market for buy to let properties in the North of England remains strong, nationally far fewer landlords are investing in property.
This could have serious long-term consequences for the rental market and lead to higher rents, putting those who are trying to save for a deposit in an even more difficult position – which was the main point of introducing more stringent buy to let taxation.
Could it be possible to see Economic Migration to the North of England & the Midlands in order to achieve home ownership and a higher quality of life through increased disposable income as a result of lower housing expenditure?
With average price per square foot for new builds (sold to Morgan Grey Investor clients) being well over half to those sold in the South East & South West – this may well happen as one thing is for sure, average wage whilst slightly lower in the North – is certainly not half.
If you are interested in taking advantage of these deals – please email firstname.lastname@example.org or telephone 0191 5700086.
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