If you're a landlord on the prowl for the next big investment hotspot, look no further. Manchester has emerged as the crown jewel for buy-to-let investments, according to Aldermore's latest analysis.
With a dazzling 6.5% annual property price growth and a robust rental market comprising 32% of its population, Manchester offers a double whammy of rental income and long-term appreciation.
But wait, there’s a twist in the tale! Wigan has made an impressive leap to 4th place, up from 25th, thanks to its low vacancy rate and solid property price growth of 5.4%. Meanwhile, London has taken a tumble, sliding to 32nd place due to lacklustre rental yields and modest house-price growth.
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The Buy to Let City Index paints a rosy picture for landlords, with average rent per room climbing by 18% and rental yields jumping from 5.5% to 6.9%. It seems landlords are feeling the love, with optimism on the rise and fewer considering an exit from the sector.
While Wales lags behind, with Newport and Swansea at the bottom of the table, there’s a glimmer of hope as rental yields and property price growth see slight improvements.
Jon Cooper from Aldermore highlights the shifting sands of the rental market, urging landlords to stay nimble and adapt to new challenges and opportunities. With the right strategy, the current market environment could be a golden opportunity to bolster your portfolio and secure a prosperous future. So, landlords, it’s time to roll up your sleeves and dive into these promising cities!
Want to hear more? Join Mal on the Property AI Report Podcast each week!
Access from your preferred podcast provider by clicking here
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