£87k windfall for landlords’ rental homes
LANDLORDS selling rental property in 2017 typically raked in nearly £87,000 more than they paid for it, according to figures.
The gains ranged from £253,981 in London to £23,874 in the North East, estate and lettings agency Countrywide found in England and Wales.
It said 14% of landlord sellers last year had doubled their money, rising to 28% in London.
Nearly nine in 10 sold for more than they had paid, the research found.
Countrywide research director Johnny Morris said: “Landlords selling in 2017 owned their homes for nearly nine years. In eight of those, house prices have risen. Even in areas where price growth has lagged behind, most landlords have made a profit.”