LETTING & ESTATE AGENT

Our doors may be closed, but we’re still here for you. In line with government advice on the outbreak of Coronavirus (COVID-19), all our Martin & Co branches will be temporarily closed until further notice. The health and safety of our staff and customers is, of course, our number one priority. But while we might not be able to see you, we are still here if you need us. The Martin & Co teams are all working remotely, ensuring we can provide continuous support for all our customers. Please email your nearest branch directly through the website and, most importantly, stay safe and healthy during these difficult times

Stamp duty increase to landlords is expected to lead to an increase in rents.

Stamp duty increase to landlords is expected to lead to an increase in rents.

The Association of Residential Letting Agents 'ARLA' have commented on the new stamp duty increase, claiming that the increase will also lead to a decline in the amount of available properties to renters.

Many landlords have attempted to beat the deadline and we have seen a sharp increase in the amount of landlords looking for properties. After the deadline, two thirds of ARLA agents predict that supply will fall as landlords are pushed out of the market.

Of all the ARLA members, 57% agree rents will be pushed up once the stamp duty reforms have come in to effect, largely down to the increased costs to landlords being passed on.

“The stamp duty changes are now imminent and as well as hitting small landlord's, they will also impact institutional investors. Although members are reporting a rush from landlords trying to snap up their buy to let investments now, it's likely that we'll see the buy-to-let market drop like a stone come April and probably not pick up again until next year. This will most certainly cause rents to increase, with supply dropping, as competition for the limited availability of properties intensifies†says David Cox, managing director of ARLA.

Tenant demand rose by nearly 20% in February, with an average 37 prospective tenants registered per member branch. This is the highest level seen since February last year, with an average 40 tenants