Where are Britain’s best buy to let areas? It’s not always an easy question to answer because first we have to talk about the criteria for the best areas to invest in, with some better than others for different reasons.
Having said that, there are some objective measures we can take into consideration such as rental yields, rental demand, rental price increases and also property value increases.
Manchester has dominated these lists for some years now, with many of the areas around the city increasing in value and popularity, but many other areas across the north west, north east and midlands are now following suit and seeing huge surges in popularity following the pandemic.
Our top 3 best buy to let areas
Manchester
We may as well start with our regular entrant, Manchester, as the north west city remains one of the hottest places to invest in buy to let property in the UK.
With many up-and-coming areas such as Stockport, Bury and Rochdale, demand remains seriously strong around the Greater Manchester area.
Added to that is an average 5.9% rental yield across the area and 7.2% property price increase across the last year.
Manchester has remained popular for years, and with plenty of potential still to grow, the city is still a very good area to invest in.
Sunderland
The north east city has been rising in these types of rankings for a while now, with great transport connections and also integrated well into the wider north east area.
Cities such as Newcastle, Sunderland and Durham have all been seeing their local economies grow, as well as transport links between the cities and the wider north improve. There are also world class universities across the region meaning lots of students studying and choosing to live around the area post-graduation.
The average rental yield in the city is also a huge 7.7%, meaning that the return on your investment is, relatively, very high. As a passive income on an appreciating asset, that’s a fantastic return.
Hull
This Yorkshire city was named the UK’s city of culture in 2017, generating an estimated £220 million investment.
It’s been on the up ever since and the local economy is booming, with jobs being created, students coming into the area in higher numbers and many moving into the city area.
Property in Hull is also a fantastic investment with a relatively low entry price – average prices are just £125,000 – and a very high average rental yield of 8.9%.
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We offer a wide range of rental property investment opportunities in some of the best buy to let areas in the country. If you’re interested in investing then why not get in touch with one of our specialists today, to talk them through what you’re looking for so they can help you through the process?
