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Top buying agency admits more purchasers turning to renting

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Meacock adds that if you plan to live in the UK for five years, and rent a £10m property for £5,000 a week, it won’t cost you much more than the stamp duty if you had bought outright. “In a market which is not really moving, neither can you rely upon price inflation to offset that” he admits.

Last month another buying agency, Middleton Advisors, announced that it was opening a rental division because of increasing demand.

https://www.lettingagenttoday.co.uk/breaking-news/2017/4/top-buying-agency-admits-more-purchasers-turning-to-renting

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To buy a £10m property the stamp duty is close to 12% (it's 12% above £1.5m) and 15% if it's a second property. This is quite different to most people comparing renting or buying.

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