The latest
research from Connells Survey and Valuation has found that, during August,
activity in the buy-to-let sector saw a surge of 12.7%.
Encouraging
economic data, high levels of employment and fading fears of a recession appear
to have injected life into the sector. August’s surge in activity highlights
the resilience of the the buy-to-let sector, albeit we can still see the impact
of the Government’s poorly considered BTL legislation.
According to
Connells, first-time buyer activity saw the strongest overall increase in
valuations and has driven August’s housing market, with valuations up by 6.8%
on July and by 19.6% on an annual basis.
Remortgaging
activity has also seen an increase in valuations on both a monthly and an
annual basis. On a monthly basis, remortgaging valuations saw a growth of 4.2%
and a 1.5% increase year on year to August 2016.
Across all sectors
of the housing market, overall valuation activity has risen by 5.1% on a
monthly basis, between July and August. On an annual basis, there was also a
slight increase of 0.2% more valuations carried out than in August 2015.
Overall market activity remains steady and fears of
a post-Brexit slump has failed to emerge. In the first full month after the
Bank of England’s decision to cut interest rates, the buy-to-let market has
seen a surge in activity. Powered by revised low interest rate deals announced
by major mortgage lenders, landlords have taken the opportunity to remortgage
and/or acquire new properties.
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