The latest announcement from RICS that the UK needs 1.8m more properties to rent by 2025 is another nail in the coffin for stamp duty. Since the 3% increase in April, sales of buy-to-let properties have fallen steeply and the correlation is undeniable.
Developers and long term landlords alike have been hit by this additional fee, but what does this shift mean for developers and their relationships with landlords?
The rise in stamp duty has inevitably caused the price of rental property to rise and unfortunately this increase will be passed on to the tenants where landlords try to manage the growing costs.
According to the latest figures from the Office for National Statistics (ONS) the market is appearing relatively stable post the EU referendum. However, despite contradicting figures on the rate of growth of house prices in England and Wales there seems to
be agreement on the possible negative outcomes following the BTL tax changes.