London landlord home sales slump on tax changes

London

JENNIFER Pickford, a 39-year-old owner of four London rental properties, is not only avoiding purchasing more, she's considering selling the ones she has. She isn't alone.

The proportion of homes bought to rent out in the capital tumbled after an additional 3 per cent tax on second-home purchases was introduced in April 2016. Now, landlords are facing a second hit with a reduction in tax relief for rental income introduced last month.

"If I thought stamp duty was bad, the tax relief issue really was the nail in the coffin," Ms Pickford, an accountant from Surrey, said in an interview. "It j…