New figures indicate the ongoing growth of buy to let.
Analysing data on additional property purchases made in the financial year 2020/21, the rental platform Rentd found there was a 3.2 per cent increase in additional homes being bought - chiefly for buy to let purposes.
These purchases carried a market value of £70.9 billion, a 13 per cent increase on the previous year.
The South West has seen the largest increase in market activity for additional property investment, with an 8.1 per cent annual increase in additional home transactions, while the value of these purchases has climbed by a huge 22.4 per cent.
At 6.6 per cent the South East has seen the second largest increase in market activity concerning additional property investment, with the value of the market also up 17.6%.
The North East ranks third, where there have been 5.5 per cent more additional properties purchased in the last year, although the East of England has seen the third largest uplift in the value of these transactions at 16.1 per cent.
The East and West Midlands are the only two regions to see a decline in transaction volume where additional property purchases are concerned.
While London sits mid-table where the annual change in market activity is concerned, the capital is the most valuable market for additional property investment by some margin, with £23.2 billion invested in the last year.
At London borough level Sutton, Merton, Hounslow and Hillingdon saw the largest increases.
“Changes to stamp duty tax thresholds on second homes and buy-to-let properties have been just one Government initiative designed to deter additional bricks and mortar investment” says Rentd chief executive Ahmed Gamal.
”But despite their endeavours to dampen appetites, additional property purchase still accounted for around one in five of all residential transactions in the last year alone.
“Not only is the level of this investment increasing, but the value of these portfolios has also climbed considerably and it’s fair to say that the buy-to-let sector, in particular, is far from on its knees.”
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