Hamptons: More homes let by overseas based landlords
The proportion of homes in Great Britain let by overseas landlords rose to 11% between January and October, the Hamptons International Monthly Lettings Index has found.
This was up from 7% during the same period in 2018.
Aneisha Beveridge, head of research at Hamptons International, said: “The proportion of homes let by overseas based landlords rose for the first time in more than nine years.
“The East and London recorded the biggest increases.
“Sterling’s depreciation has made investment property in Great Britain more attractive to international investors.
“The average home cost 23% or £53,065 less than in 2014 for a US dollar buyer, solely due to the currency changes.
“Rental growth in the South outstripped rental growth in the North.
“Rents in Great Britain rose 2.2% in October, but rents in the South East rose 3.9% compared with a -0.6% fall in the North. This was the first annual rental fall in the North for 17 months.”
The East of England and London recorded the biggest rises (8% year-on-year) in the proportion of homes let by overseas landlords.
This was followed by the South East and North East, both recording a 7% rise from the same period last year.
London had the highest proportion of homes let by overseas based landlords at 18%.
Meanwhile, Wales had the lowest proportion of homes let by non-UK landlords (-2%) and was the only region to record a fall compared with 2018.
Western Europeans still made up the largest proportion of overseas landlords, however the number of North American landlords has increased the most this year, rising by 14%.