LONDON — The number of properties sold to buy-to-let (BTL) landlords fell sharply in April as recent changes to taxation on second homes continue to bite.
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A key part of Britain's housing market is cooling rapidly
The percentage of new valuations of properties being done for buy-to-let purposes was just 7% in total in April 2017.
A couple view properties for sale in an estate agents window in London
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According to new data from estate agents Connells released overnight on Thursday and reported by the Financial Times, the percentage of new valuations of properties being done for buy-to-let purposes was just 7% in total in April 2017.
That compares with the five-year average for the month of April, which stands at 13%.
The fall in interest in the buy-to-let market has largely been driven by a series of changes to property taxes that were effectively designed to slow BTL's rapid growth.
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That was largely down to the laxer standards for giving BTL purchases, which are generally done
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