There has been a big surge in the number of landlords looking to get new purchases onto the market in the aftermath of the lockdown.
New figures from letting agent comparison site Rentround shows many buyers are readying themselves to place properties on the rental market.
Landlord searches on the platform have risen by 21%, since Rishi Sunak’s announcement of stamp duty changes – which include big savings for buy-to-let owners.
“The stamp duty holiday has brought a flood of positivity across the property market,” said Rentround founder Raj Dosanjh.
“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.”
Jump in traffic
Traffic on the Rentround website increased before Rishi Sunak’s announcement, based on rumours that the holiday may apply to the buy-to-let sector.
From 8 July, when details of the changes were confirmed, the number of letting-agent comparisons increased dramatically.
The increase in letting agent searches is spread across the nation. However there are pockets of significant increases – Manchester letting agent comparisons increased by 33%, followed by Newcastle & East London with increases of 31% and 29% respectively.
The latest rental yield data indicates there ought to be higher demand increases in certain hotspots in Liverpool. Postcodes in this area make up three of the top six best rental yield areas.
The data also confirms London and the South-East still trail in rental-yield returns, with no postcodes in the top 10. The increase in agent inquiries in this region shows landlords are pinning their hopes on longer term capital gains.