Investment activity in UK real estate sector “buy to let” has increased by 12.7% in August 2016. Sector investment in property for rent successfully absorbed the changes in legislation in 2015 and quite calmly digested the implications of the referendum on the British exit from the European Union.
Changes in taxation for the investor had an impact on demand in late 2015 and early 2016.
Two tests, which was subjected to the sector – reduction of tax benefits for mortgage borrowers and the additional Stamp duty of 3% was short-term challenge for investors.
Encouraging economic data, steady growth of employment and reducing the risk of a recession gives confidence to investors. In addition, an August rate cuts by the Bank of England has a positive impact on investor sentiment.
The predictions of pessimists that consumer activity after Brekzita fall, had not materialized. Indeed, the services sector in the UK showed the biggest monthly increase in the history of observations, record growth recorded in the sector of retail sales and consumer confidence stormed their tops, showing unusual confidence of consumers.
Compared to July, the activity of buyers in the market of real estate of England increased by 5.1% compared with August last year – by 0.2%. Many investors are actively engaged in the refinancing of existing portfolios, after lowering rates by the Bank of England. Thus, “post-Brickset” collapse did not happen, but on the contrary, the property market in the UK is experiencing a surge of activity.
® Helen Entree. 02.09.2016
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