The Number One Location For Property Investment
A unique algorithm has ranked 172 BTL locations in the UK to find out where the best area is for buy to let property investment.
The analysis by One and Only Pro, a property investment portal, utilised a system that ranked investment properties out of 10 and five locations with the highest concentration of these properties are in the north-west of England.
The firm says these are 'diamond property hotspots' and with 21% of properties scoring 10 at 10 places Salford in first place.
Among the properties looked at by the firm included a three-bedroom flat costing £130,000 and they found it has an 8% potential yield with a rental income of £1,300 per month.
Burnley came in a close second place with 20% of its property offering great investment potential with third place being shared by Birkenhead and Bootle on 16%.
In fifth place is Blackpool with 12% of its properties ranking highly for investment opportunity.
Forcing people to rent homes further afield
One reason being offered for their potential success is that the investment company believes these are 'satellite towns' which will increase in popularity because house prices in their larger city neighbours have risen so much they are forcing people to rent homes further afield.
The firm also found one property in London offering landlords an 11.65% potential yield.
The firm's chief executive Henri Sant-Cassia said: "A shrewd investor can find diamonds nearly anywhere in the UK though it's true the north-west shows the largest number of properties with investment potential.
"Even inexperienced investors can find the best deals in an area and, for example, the top location in Wales is Swansea, which is in 20th place."
He added that the best investment destination in the south of England is Portsmouth, which is in 32nd place, with London in 60th place with 2% of properties offering investment potential.
Government must stop rogue landlords receiving money.
Meanwhile, one council says that the government must do more in preventing rogue landlords from receiving public money.
Brent Council says landlords who fail a 'fit and proper' test should not receive housing benefit.
The call comes after ITV News revealed last October that landlords who have been banned are continuing to rent out properties and receive housing benefit.
The council's cabinet member for housing, Cllr Eleanor Southwood, said: "It's completely unacceptable for landlords who flout rules and cause misery for tenants to receive housing benefit.
"We need the law to help us protect tenants and drive up standards."