Buy-to-let lending falls to almost half since Stamp Duty surcharge introduced
A new report on the residential housing market by consultancy firm Cushman and Wakefield has found that buy-to-let lending has tumbled by 47% on levels before the introduction of the 3% Stamp Duty surcharge levied on the purchase of additional properties.
The report goes on to say that further phasing in of the reduction in income tax relief lending activity looks set to remain muted.
Despite this, Cushman and Wakefield believe that housing stock in the private rented sector will contract by no more than 3% over the next two years.
Full story available from Property Industry Eye: http://www.propertyindustryeye.com/buy-to-let-lending-tumbles-by-almost-half-since-introduction-of-stamp-duty-surcharge/