Landlords spend record £21 billion in cash.
According to the latest lettings forecast from Countrywide.
There has been a sharp increase in the landlords buying through cash means in the last 12 months with a record spend of £21bn on property to let, 65% of all purchases. In many cases this cash has come from landlords remortgaging their existing properties to invest in others.
Rental growth has slowed slightly from September to October with the average new let rising 0.5% to £958 per month.
Chart 1 – value and volume of cash landlord purchases
Table 1 - Value of volume of cash and mortgaged landlord purchases
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