Despite increased stamp duty, reductions in tax relief and Brexit, people are still keen to invest in residential property in the UK — in the right areas.
IP Global, a Hong Kong-based residential property investment company, says it put £106 million in Northern Powerhouse cities such as Manchester and Liverpool last year on behalf of clients. It expects to invest a further £200 million this year.
This is regardless of the fact that the Intermediary Mortgage Lenders Association has blamed “excessive regulatory intervention” for an 80 per cent fall in investment in the buy-to-let sector. Countrywide, the UK’s largest estate agency, says that the pool of rental properties is shrinking. Although 12 per cent of its sales were to landlords last month, 17 per cent…