Landlords paying above asking price as sales hit five-year high

The proportion of homes sold to landlords has hit a five-year high but buyers are paying above asking price due to the lack of supply.

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The share of homes bought by landlords across Great Britain rose from 12.0% in the first quarter of 2021 to 13.9% in the first three months of this year.

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That is the highest proportion recorded in the first quarter of any year since 2016 when investors rushed to beat the 3% stamp duty surcharge on second homes in April 2016.

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The research also found that buy-to-let investors are now purchasing more homes than they are selling for the first time since 2016.

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The share of homes sold by investors fell from 14% in 2021 to just 10% in the first quarter of 2022, the lowest proportion in 10 years.

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Overall, investors purchased 42,980 homes across Great Britain during the first three months of this year, equating to £8.5bn worth of property - almost twice the figure) recorded pre-Covid in the first quarter of 2019.

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The average investor is paying more than 100% of the asking price for a buy-to-let in England & Wales for the first time since Hamptons started recording data for its index.

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OneAgency have seen a rise in viewings and offers on properties across Stoke-on-Trent. The market is currently really strong and it is definitely a great time to sell. Book your FREE valuation today on our website direct into our diary.