Buy-to-let landlords who made the decision to downsize their portfolios last year have enjoyed impressive gains on the disposal of properties, a new study has revealed.
In recent days, a report published by estate agent Countrywide has revealed that the average UK landlord who sold a rental property in 2017 made approximately £87,000 in profit.
According to the agent’s Letting Index report, on each individual property sold, landlords up and down the country enjoyed gains ranging from £23,874 in North East England to an impressive £253,981 in the City of London.
The report reveals that London-based landlords made more than four times the gains made by the average landlord selling elsewhere in the UK.
It also reveals that while 14 per cent of investors were successful in doubling their money when selling off buy-to-let properties in the UK, this figure rose to almost a third (28 per cent) in Britain’s capital.
Johnny Morris, Research Director at Countrywide, said that impressive house price growth over the past few years had “driven investor gains.”
He added: “Landlords selling in 2017 owned their homes for nearly nine years. In eight of those last nine years, house prices have risen.
“London continues to see the greatest falls in the stock of available homes to rent, on the back of reduced investor activity, this scarcity of supply is driving rental growth.”
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