The best BTL investment cities revealed
The best cities across the UK for buy to let landlords to invest in have been revealed in a new survey.
Aldermore, a retail bank, has looked at the figures for 25 cities to work out which ones offer the best BTL investment destination.
Along with looking at yields and long-term growth through house price rises, they also looked at the average total rent, vacancies and the proportion of those living in rented homes.
According to their findings, the number one destination for buy to let landlords is Oxford with a total score of 74.
It's followed by Manchester and Edinburgh and 72 points and London on 71 and Norwich on 66.
Top 10 of best BTL investment destinations
The top 10 of best BTL investment destinations is completed with Bristol, Nottingham, Cambridge, Brighton and Milton Keynes.
The bottom ranked city for investment is Wolverhampton on 25 points, followed by Newcastle on 26.
The bank says that Oxford offers one of the largest private sectors of all the cities examined with 28% of those living there renting privately.
The city also delivers above average rental ability, a low level of empty properties and security with rising property prices - they have risen by 4.8% on average over the last decade.
Aldermore's director of mortgages, Damian Thompson, said: "The research shows there are still great long and short-term investment opportunities with a number of people renting rapidly growing in the UK, it's up by 1.7 million over the last 10 years.
"Looking forward, landlords will need advice and backing from lenders and also the wider industry to provide diversity of tenure, choice as well as quality properties for rent."
As Christmas approaches, voids start to rise
Meanwhile, it's been revealed that while November delivered a steady market for landlords, there's been a small rise in the number of voids.
According to Goodlord's data, the average UK void period in November grew to 24 days, that's up from October's figure of 18 days.
Also, the average rental price has fallen slightly: in November, it was £198, while in October the average was £925. That's the lowest average figure since March.
Goodlord says that rent falls have been seen in all but one of the eight areas they monitor with the largest fall being seen in the North West with a 5% month-on-month drop.
The firm's chief executive Tom Mundy said: "As Christmas approaches, we expect to see slightly lower rental averages and longer void periods with winter traditionally being slower for lettings."