The value of property purchases by landlords taking place over a six-month period has fallen by £5.2 billion in just three years, a report has found.
In the first half of 2018, landlords spent £12.1 billion on new buy-to-let purchases, £5.2 billion or nearly a third (30%) less than in the first half of 2015 when the total value of purchases was £17.3 billion, according to calculations by Hamptons International.
Based on its own data, it estimates that landlords bought 64,260 homes across Britain in the first half of 2018, 31% less than in the first half of 2015.
The report said the £12.1 billion is the lowest six-month total for buy-to-let purchases in five years – since £11.2 billion in the first half of 2013.
The average price of a home bought by a landlord is £174,580, 4% less than last year and 7% less than in 2016, Hamptons said.