Proportion of overseas landlords in United Kingdom hits record low

The proportion of overseas-based landlords across Britain has fallen to the lowest levels seen by a lettings network in at least seven years

The fall is most evident in London, where the proportion of overseas landlords has fallen from 26% to 11%.

One in 20 (5%) homes now let in Britain is owned by overseas landlords, according to the data from Countrywide, based on 90,000 homes it lets and manages every year.

The index includes a new feature entitled "index methodology" which outlines the average price of a new let in Britain rose by 1.1% year-on-year in June 2017 to stand at £950pcm.

The letting agency group claims the proportion of overseas-based landlords operating in Britain is now five per cent, down from 12 per cent in 2010.

The most recent report from Countrywide has revealed that the number of overseas-based landlords in the United Kingdom has slumped to a record low in 2017.

Burglary at Heller's Las Vegas office investigated
Dean Heller , R-Nev., is shown during a press conference at the Grant Sawyer State Office Building in Las Vegas. We have reached out to the Las Vegas Metro Police Department and Senator Dean Heller's office.

The percentage of European-based investors has been slowly falling over time. Outside London, Europeans remain the biggest group of foreign landlords at 37%.

Across the country, London still has the biggest concentrations of overseas-based landlords, accounting for around one in 10, or 11%, of let homes there in 2017. In 2010, they made up 39% of overseas-based landlords in London, but now the proportion is 28%, according to its figures. London has always had the highest proportion, now 11%, followed by the South East at 5%. Scotland, Wales and the Midlands have the lowest at 3%.

The average overseas based landlord received 35 per cent more in rent past year than one living in the United Kingdom - a whopping £5.4 billion, which constitutes 11 per cent of all the rent paid by all of the private tenants in Britain.

The biggest fall in foreign ownership in London has been amongst Europeans. Over half the income earnt by overseas landlords came from rental homes in London.

Research Director at Countrywide, Johnny Morris, said: "The growth of the private rented sector since 2010 has not been driven by overseas investors". Overseas-based landlords have also seen the removal of capital gains tax exemptions in 2015. "A steady increase in foreign investors" tax bills combined with more recent falling expectations of price growth in London has led to a decline in foreign investment in buy to let, ' he pointed out.

Related News:

  • IDF soldier who shot wounded terrorist sent to house arrest

    IDF soldier who shot wounded terrorist sent to house arrest

    He will remain there except for trips to the synagogue, accompanied by a family member, on Friday night and Shabbat day. Elor Azaria, speaks to press at the Kirya military base in Tel Aviv following the verdict of Azaria on January 4, 2017.
    Makarova and Vesnina cruise to Wimbledon women's doubles title

    Makarova and Vesnina cruise to Wimbledon women's doubles title

    It soon became clear that would not be the scenario playing out however, as Russians Makarova and Vesnina tore through the first set.
    Greenlaw Named To Butkus Award Watch List

    Greenlaw Named To Butkus Award Watch List

    The Butkus Award has been given out annually since 1985, and has been awarded by The Butkus Foundation since 2008. He added 125 yards through the air on 17 receptions and averaged 22.3 yards per kickoff return.
  • Horse race bet with William Hill

    How to place a bet To place your wager/bet, all you need is to provide the appropriate information to the ticket writer. Simply you just have to pay £1horse bet and you can easily watch the live horse racing broadcast on your device.
    How Does JPMorgan Chase & Co. (JPM) Stack Up Right Now?

    How Does JPMorgan Chase & Co. (JPM) Stack Up Right Now?

    Following the acquisition, the director now directly owns 299,862 shares in the company, valued at approximately $25,632,203.76. Its segments are Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking and Asset Management.
    South Florida Watching Two Tropical Waves In The Atlantic

    South Florida Watching Two Tropical Waves In The Atlantic

    The hurricane center said the storm could develop more over the day or two as it reaches the Lesser Antilles in the Caribbean. After that, less favourable upper-level winds are expected to hinder additional development.
  • Queen biopic production imminent

    Queen biopic production imminent

    In a statement, Queen's Roger Taylor and Brian May say, "Rami has great presence and he's utterly dedicated to the project". Later, Ben Whishaw was to star with Dexter Fletcher directing, but more creative issues nixed that team-up.

    Reports: Real To Bid £50m For Man Utd Star

    United later backed out and signed Belgian Romelu Lukaku from Everton for a reported transfer fee of 75 million pounds ($98.19 million).
    Manziel has spoken to teams about National Football League  return

    Manziel has spoken to teams about National Football League return

    Greatly missing the game is one of the driving factors for the former Aggies Heisman Trophy victor . The thing he learned the most during this time, Manziel says, is how much he misses football.
  • Centrica PLC (CPYYY) Upgraded at HSBC Holdings plc

    Centrica PLC (CPYYY) Upgraded at HSBC Holdings plc

    The firm's 50 day moving average price is GBX 495.34 and its 200-day moving average price is GBX 477.21. The firm has a market cap of $188.62 billion, a price-to-earnings ratio of 357.11 and a beta of 0.87.
    No Exceptions For Depositing Old Notes: Centre To Chief Justice Of India

    No Exceptions For Depositing Old Notes: Centre To Chief Justice Of India

    Government referred to the earlier instances of misuse of extensions given for submitting demonetised notes. People queued up in front of banks to deposit their old notes after demonetisation was announced.
    7 million Venezuelans vote to reject Maduro - opposition

    7 million Venezuelans vote to reject Maduro - opposition

    Various former Latin American heads of state attended Sunday's vote as observers in support of the opposition. Academics monitoring the vote said that 7,186,170 people took part in the non-binding referendum.


Most liked

Macron: Charm Offensive May Soften Trump's Climate Stance
President to reverse his pledge to pull out of the Paris climate accord might be asking for too much. The White House, meanwhile, remains non-committal about the USA rejoining the climate deal.

Biden to write book about grieving son's death
PROMISE ME, DAD chronicles 2015, the most momentous and challenging year in Vice President Biden's extraordinary life and career. Joe Biden's new book, Promise Me, Dad , now has a November 14 release date, as announced by Flatiron Books .

Longmont weather: Highs in the 80s and showers over the weekend
Some showers and storms could linger into Sunday across the Upstate while western NC sees a lower chance of rain or storms. Partly cloudy skies will follow into Wednesday night , along with a slight chance of showers.

Tesla driver denies 'Autopilot' led to Minnesota crash
But the driver said in the email released on Monday he believed he had disengaged the Autopilot system at the time of the crash. Additionally, every time that Autopilot is engaged, the auto reminds the driver to "Always keep your hands on the wheel".

New game by Street Fighter EX developer launches in 2018
At Evo 2017 , everyone received more confirming news that this brand new fighter will exist in some way, shape or form. The game is in development for PS4, and Arika promises a "limited time beta/server test" on PS4 at the end of 2017.

NF Railway to run special trains in flood affected Assam
In the neighboring Arunachal Pradesh state, 14 people were killed two days ago after a landslide in Laptap village caused by flash floods.

Most Active Stock: Ocular Therapeutix, Inc. (OCUL)
Finally, Berson & Corrado Investment Advisors LLC boosted its stake in shares of Ocular Therapeutix by 5.8% in the first quarter. Ocular Therapeutix has a one year low of $4.04 and a one year high of $11.91. (NASDAQ: OCUL ) plummeted -0.22% to $6.66.

JMP Securities Upgrades Fifth Street Finance Corp. (FSC) to Outperform
Increasing profits are the best indication that a company can pay dividends and that the share price will trend upward. TheStreet lowered Fifth Street Finance Corp. from a "c-" rating to a "d+" rating in a report on Wednesday, June 14th.

Barclays fraud trial over 2008 financial crisis fundraising deals set for 2019
The four former executives appeared at Southwark Crown Court for a trial preparation hearing today (Mon). Boath and Kalaris each face one fraud count between May and August over the June capital raising.

US To Allow 15000 Additional Visas For Temporary Workers
And while President Donald Trump has touted a " Hire American " mantra, he's also defended the use of H-2B visas at places like his Mar-a-Lago resort in Florida.

Stenson pessimistic about retaining British Open title
Following Stenson's group will be 2010 Open champion Louis Oosthuizen , England's Justin Rose and American Justin Thomas . Henrik Stenson has cast doubt on the chances of him retaining his Open Championship title at Royal Birkdale next week.

GST Council increases cess on cigarettes; blow to manufacturers
Earlier there were reports that the Union Government may hike cess on cigarettes if prices fell after GST implementation. The cess was made up of 5 per cent ad valorem rate and a fixed per thousand stick rate based on length of cigarettes.

Track Fire In Harlem Disrupts Subway Service; 9 Treated For Smoke Inhalation
B train service resumed with delays after being suspended between Bedford Park Boulevard and Brighton Beach in both directions. Twitter user Tamara Hansson tweeted , "Now me and several hundred other people are walking to the 145th 1 train".

Yankees notebook: Chapman rebounds, Judge cools
CC Sabathia allowed two hits over six innings in the opener, and Didi Gregorius hit a solo home run to give NY a 3-0 victory. Boston (52-41) salvaged a split of its four-game series with NY (47-43) after losing earlier Sunday afternoon .

Stressful life events can age brain
Manage other health conditions such as high blood pressure, high cholesterol and type 2 diabetes. But she said the brain was an "incredibly intricate organ" to research.