LendInvest data has revealed how long it will take to repay the 3% stamp duty coming into effect on 1 April based on current rents around the UK.
The research claims that landlords in London and the South East will take the longest time to repay the tax, in some places more than 20 months, compared with less than seven months in some areas in the North.
Christian Faes, chief executive of LendInvest, said: “It’s not just in inner London, where landlords’ taxes will soar, that we can expect to see landlords and tenants squeezed financially.
“The index shows that all across England and Wales we will see many landlords factoring several thousand of pounds of stamp duty tax into their budgets for the first time.
“Towns such as Sunderland, Blackburn, Wigan and Oldham could be particularly badly affected. In these places rental yields are comparatively good but average house prices are below £125,000, meaning SDLT will be imposed for the first time.”
Landlords in 14 out of the 105 areas measured would be paying the tax for the first time due to house prices being below £125,000, with Darlington, Halifax and Doncaster among the worst affected.
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