Nearly 1-in-4 houses bought in Preston during 2017

Nearly 1-in-4 houses bought in Preston during 2017 were purchased as second homes to rent out. According to data from HM Revenue and Customs, second home buyers (Which include property investors and landlords looking to rent homes out) increased during this period spending £89m.

Experts have shown surprise at these stats, claiming that an extra 3% stamp duty charge on additional properties could have deterred landlords from buying.

The number bought last year in Preston has increased by 23 per cent since 2016-17, when around 520 second homes were purchased.