Burnley tops list for number of 'flipped' homes: Town tops list of locations were properties are sold multiple times in a year



The value of homes bought and sold by investors looking for a quick profit has hit the highest level in a decade.
Some 30,822 houses and flats across England and Wales worth £5.5billion were ‘flipped’ in the year to April - meaning they were bought and sold more than once over this period.
This was the highest figure since before the financial crisis in 2007, when £9.6billion of homes were flipped.
The practice of ‘flipping’ was previously concentrated in London.
But the slowdown in the capital, combined with hikes in stamp duty for properties worth over £1million and the 3 per cent stamp... read more

 
1 August 2017 in Business, Views: 48
Source: Daily Mail
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