A recent report published by peer-to-peer lending company LendInvest has identified some of the top buy-to-let hotspots in the UK.
Despite London’s reputation for high house price growth, it seems that property investors should be turning their attention to the UK’s other cities such as Sheffield and Manchester.
Using figures from online property portal Zoopla to ascertain highest yields, the report revealed that in the top 20 yields in January 2015, Glasgow & Liverpool postcodes featured 4 times, Sheffield’s featured 3 times and Birmingham and Manchester twice.
Landlords are increasingly heading to Glasgow after house price hikes have made buy-to-let in Edinburgh increasingly expensive and less profitable.
The top place for landlords to invest in Glasgow was reported to be the G2 postcode, where the average rental yield is 8.90%.
The northern city has more than 60,000 students living in it, making it a ready-made target market for prospective buy to let landlords.
Like Liverpool, Sheffield is home to two universities and a large student population resulting in a high demand for rental properties.
Last year Manchester experienced the strongest house price growth in the UK. With a growing population of 2.68 million people, demand for rental properties is at all time high. Manchester is also home to the biggest student population in the country.
Birmingham is the UK’s second biggest city, with a population of 1.074 million. This makes it an incredibly attractive place to invest in buy to let! A new project to build a new high-speed railway between London and Birmingham is expected to attract even more investment to the city.
At Peter Robinson & Co. we provide conveyancing services all over the UK, and are experienced in dealing with professional landlords. Our team can help anyone looking to purchase a property to let, providing a fast and efficient service to ensure a smooth buy to let experience.