Private landlords in London earned £33.8bn from property investments last year
Anyone who thought the buy-to-let sector is dead and buried in Britain might want to think again, as recently-published data shows private landlords across the nation earned a collective £33.8bn from their buy-to-let investments from the year 5 April 2017 to 2018.
Out of the £33.8bn earned by Britain’s private landlords in the last tax year, £7bn came from residential property investments alone, up by 6.4% year-on-year.
The figures come at a time when the buy-to-let sector has faced a barrage of negative press as landlords have faced a squeeze on their incomes in the wake of the government’s scrapping of a number of valuable tax reliefs.
Despite such changes and the current negative environment surrounding the buy-to-let sector, it is forecast that landlords will benefit from approximately £16.7bn in tax relief, even when the changes have been fully rolled out in 2020.
As Landlord Today points out, this will mean buy-to-let would “outperform other asset classes over the long-term, including government bonds, cash ISAs and shares.”
Townends Estate Agents are market leaders in all aspects of property sales and letting and management across London and the South East. If you would like to discuss your buy-to-let aspirations in the capital and wider vicinity, get in touch with our team of property experts today.