One in six houses in South Gloucestershire bought as second homes or buy-to-lets, figures show

October 31 2018

One in six houses bought last year in South Gloucestershire were purchased as second homes or properties to rent out, figures show.

Isabelle Kirk, Data Reporter 

According to HMRC data, second home buyers - including property investors and landlords buying houses to rent out - were undeterred by new taxes on extra properties.

A second home is defined by HMRC as a property that is bought by buyers who already have primary residences.

Last year 17% of the properties sold in South Gloucestershire were classified as second homes.

Around 950 were bought in the financial year 2017-18, with a combined value of £259 million.

That's despite an extra 3% stamp duty charge on additional properties, introduced in April 2016 as part of a government effort to deter buy-to-let landlords, property investors and second home owners.

The number bought last year in South Gloucestershire has increased by 14% since 2016-17, when around 830 second homes were purchased.