Abandoning buy-to-let lucrative for landlords
Industry News | 13/05/19
Buy-to-let landlords who are leaving the market because of a government clampdown have been cashing in with an average profit of £80,000 for each property sold.
In England and Wales, landlords made £79,770 before tax last year, having owned the property for an average of just over nine and a half years. In London, they gained £248,120, according to research by Hamptons International, an estate agency. Overall, only 15 per cent made a loss last year, but the average gain was £3,660 less than the £83,430 that landlords made in 2017.
Source: The Times
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