Best Buy To Let Hotspots Revealed
For those property investors who want to know where the best buy to let hotspots are, a new survey reveals all.
According to a new online tool, the best location offering the most lucrative returns for landlords is the L6 postcode in Liverpool.
The 'Buy to let hotspots tool' highlights the rental yields for 2,463 locations around the country.
The tool will show the average annual income a property will generate for a landlord as a percentage of the property's value.
The tool has been created by Thomas Sanderson, a windows furnishings firm, to highlight where the profitable areas for renting a property are. They say that yields range from 1.1% to 14.99%.
Most profitable BTL investment postcodes
The tool highlights that the most profitable BTL investment postcodes are Liverpool's L6, which has a rental yield of 14.99%.
In second place is Sunderland's SR1 postcode with a yield of 13.66%, followed by Liverpool's L1 area with a yield of 13.62%.
Landlords in the TS2 postcode in Middlesbrough have yields of 13.6% and in Guisborough's TS14, the yields are 13.19%. The least profitable locations for a buy to let investment are London's WC1A postcode with a yield of 1.12%.
It is followed by Salcombe's TQ8 postcode with a 1.16% yield and then N18 in London with 1.35%.
The next worst yielding areas are W1J in London with 1.49% and Newcastle's N18 postcode with 1.51%.
The firm's marketing manager, Richard Petry, said: "For those considering buying a property to let, the tool is useful in showing where it is most profitable to do so."
The happiest place to rent revealed
Meanwhile, the happiest place for a tenant to rent a property in the UK has been revealed.
According to Howsy, a lettings platform, the best mix of affordable rent and happiness sees Kingston-upon-Hull topping the table.
Tenants there have a well-being score of 7.59 and rents cost, on average, just £421 a month.
The second happiest place for renting is Blaenau Gwent.
The firm's founder Calum Brannan, said: "Having a suitable and safe roof over our heads is a key thing we need in life and without it happiness and well-being can suffer.
"The lettings sector has become a crowded place and happiness isn't one we associate with renting because of possible customer service, high costs and inadequate stock levels."
He adds that while rents may keep increasing, the rental space can become a happy one and technology is useful for offering a better and stress-free experience of 'finding a happier home' to rent.