On 1 April the 3% stamp duty surcharge came into force and with landlords rushing to buy there were corresponding increases in property to rent.
The rental market saw 11.5% more properties listed in April due to the buy-to-let rush, Property Partner data has found.
On 1 April the 3% stamp duty surcharge came into force and with landlords rushing to buy there were corresponding increases in property to rent.
In London there was a 9.1% increase from March to April, while Worcester in the West Midlands saw rental listings surge by almost 50% (48.9%).
Dan Gandesha, chief executive of Property Partner, said: "The rental market experienced a much-needed boost in April. Unfortunately, this was created by investor frenzy to beat the stamp duty hike, and supply is unlikely to continue on an upward trajectory.
“If anything, options for tenants could become more limited in the next couple of months as traditional landlords balk at the prospect of paying the surcharge now, and losing mortgage interest tax relief from next year.
“There is still strong tenant demand, but the Government has changed the traditional buy-to-let landscape, and this will have ramifications for the rental market longer term. That demand will increasingly have to be met by professional landlords like Property Partner, offering tenants a better product, and investors a better deal.”
Other areas where listings increased were Chelmsford (38.0%), Stevenage (36.4%) and Southport (34.4%).
In London Barking and Dagenham (31.8%) and Havering (31.5%) both saw significant rises.
