Manchester has been revealed as a buy-to-let hot spot with the second highest yields in the country.
The latest data on buy-to-let returns from lender HSBC, figures from the ONS (Office of National Statistics) and the land registry reports that Southampton tops the list of the strongest rental returns with a yield of 8.73%, closely followed by Manchester with a rental yield of 7.98%.
Manchester and its surrounding districts can be ideal for the purchase of buy to let properties based on the relatively low house prices available in the area coupled with the large demand for rental properties.
Manchester is also a sought after location for rental accommodation as it boasts a large student community that contributes to the rental demand of the area, as well as Manchester being home to many young professionals.
More than a quarter (26.85%) of properties are in the private rented sector in Manchester.
As members of NALS (National Approved Lettings Scheme) and ARLA (Association of Residential Lettings Agents) we understand the rental market and can help advise you about the rental market.
Whether you are thinking of purchasing a property to rent out, or you already own a property talk to us today on 0161 925 3255.