Scottish landlords driven south by higher taxes |
Analysis by Hamptons shows the proportion of Scottish investors buying properties in other parts of Britain has more than doubled since 2019, from 2.5% to 5.3% this year, with landlords north of the border driven south by high taxes, a ban on rent increases and evictions. Although these bans were supposed to be short-lived, Nicola Sturgeon’s government last week revealed plans to extend the measures until September. However, unlike the current rental freeze, private landlords will be allowed to increase rents by a maximum of 3% during the six-month period. Most Scottish landlords who are buying in England and Wales are choosing Northern England, according to Hamptons, due to cheaper prices and high yields. John Blackwood, of the Scottish Association of Landlords, said there is already a shortage of rental properties and the exodus of Scottish landlords will only make matters worse. |
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