Best Places For Btl Landlords To Invest In Next Year
For those landlords wanting to know where the best places in the UK are for investing in property during 2020, then a new survey reveals all.
According to SevenCapital, they point to Birmingham as offering the best opportunities overall for property investors.
The firm looked at those areas that deliver higher than average rental yields, along with property price growth and inward regeneration investment.
They also point out that the rental market in the UK is growing fast and over the next two years will account for 25% of the housing sector.
Buy to let remains a key investment market
They also say that the buy to let sector, which is worth more the £1 trillion, remains one of the UK's key investment markets.
A spokesman said: "Birmingham is one of the UK's most popular investment locations and tops our list for 2020.
"The city has been the UK's top performer since 2016 and that does not look like stopping."
Yields in Birmingham range from 4.4% to 5.3% with the city centre dominated by one- and two-bedroom apartments.
The firm says that further development, including construction work for the Commonwealth Games being held there in 2022, along with infrastructure investment means the city still has a lot to offer investors.
In second place as the best buy to let investment destination is Liverpool with rising tenant demand, followed by Manchester which has a booming economy, particularly for young professionals.
Leicester, Nottingham and Sheffield are next on the list with Oxford, Cardiff, Leeds and then London making up the top 10.
London has 130,000 unlicensed rental homes
Meanwhile, it has been revealed that London has 130,000 unlicensed rental homes which should be licensed under mandatory HMO and selective licensing schemes.
The findings by safeagent found that just 25% of the private rental homes that need a licence have had made an application.
Without a licence, the properties are being operated illegally which could be putting tenants at risk.
If caught, the letting agent or landlord could face prosecution and a fine of up to £30,000.
The chief executive of safeagent, Isobel Thomson, said: "The results are concerning and consumers are not being well served - many are being put at risk through a mishmash of licensing schemes. The system is not fit for purpose."