The Best - And Worst - Buy To Let Areas Revealed
The best areas in the UK for landlords wanting the best yielding buy to let properties - and to avoid the worst areas – then two new surveys will help.
According to TotallyMoney, landlords wanting the best buy to let regions should head north to places such as Scotland and Liverpool.
These are offering the most lucrative potential hotspots for a property investment investor currently.
According to their survey, rental homes with the L1 postcode have an average rental yield of 10%.
They say that a buy to let investor could buy a home for £90,000 on average and then support this investment with a rent of around £750 per month.
The next two best destinations are in Scotland with the FK3 postcode in Falkirk and Glasgow’s G52.
Buy to let investors in Falkirk can enjoy yields of 9.51% and in Glasgow it is 8.71%.
Areas in the UK offering the best yields
Of the top 25 areas in the UK offering the best yields, nine are in Scotland.
In addition, another 16 of the best 25 postcodes are to be found in the North West, including Liverpool.
In fifth place is TS1 in Cleveland and also the TS3 postcode is in 12th place.
Sunderland also ranks with two postcodes, they are the SR8 and SR5 postcodes.
TotallyMoney's, James McCaffrey said: "Many would-be and existing landlords may wonder if buy to let is still worthwhile and our findings help and answer the question for property investors.
“The data shows there are pockets of profit for investment and it seems that the North and Scotland are good places to start with their BTL property hunt."
Areas in the country offering poor rental yields
The worst areas in the country for offering poor rental yields have been highlighted by one lettings platform.
They say their data will help landlords focus on those areas that will deliver a higher yield rather than achieving a low return for their property investment.
They add that Wales offers the lowest yields with an average of 3.8%, with the average in England being 4.2%.
In Northern Ireland, yields are 5.4% and in Scotland, they are 5.5% on average.
When the data is examined on a regional basis, the lowest average yield is for the East of England at 3.6%, with the South West and South East offering just 3.7%.
The worst towns for average yields are Chiltern and Monmouthshire with 2.8%.
A spokesman for the platform said: "For landlords, a poor return on their investment can be a worrying situation."