LATEST government figures show one in four properties bought in the third quarter of this year were either a second home or buy-to-let property.

We can now monitor these transactions due to the change in stamp duty surcharge which was brought in during April this year.

The data reveals that of the 235,000 properties sold liable for stamp duty, 56,100 attracted the increased three per cent ‘second home penalty’.

This raised an additional £440,000,000 worth of additional stamp duty.

“These figures are interesting, however I think they are distorted and don’t show the whole story,” said Richard Mace from Besley Hill.

“We noticed a large increase in sales prior to the stamp duty rise, where investors rushed to purchase before the April 1 deadline when the new surcharge took place.

“This would naturally create a lull immediately after and I would have expected the figures to have been significantly lower than they actually were.

“This is positive news as this does in fact tell us is that the increase has not put buyers off buying second or buy-to-let properties.

“We have many buyers currently registered looking for buy-to-let homes to invest their money, rather than leaving their money in the bank with very meagre returns.

“Rents have also firmed up and four per cent yield returns are not uncommon, with the added advantage and the hope of increases in value of the property which would be a bonus.”

Besley Hill will be hosting a buy-to-let event in the new year with advice on suitable properties. A financial advisor will also be on hand to help plan the purchase.

If you have a property to sell which you think might be suitable for buy-to-let then contact Besley Hill on 01453 542395 and this can be offered to buy-to-let cash buyers.