According to a new report from Lendinvest, the UK’s leading online platform for property lending, Manchester has offered the highest rental yields in the country over the last 6 years (2010 to 2016).
Average rental yields in the city over this period have been 6.8%, topping all other locations in the UK. With 26% of people living within the private rented sector in the city, home ownership has been on a steady decline in the city, with more and more people turning to renting.
Lendinvest’s report has identified where landlords are experiencing the biggest returns by looking at historical purchase prices from the Land Registry and comparing that to the average rental prices on Zoopla, the property website.
With demand far outstripping supply in Manchester, it comes as no surprise that the rental market is so buoyant and that there are plenty of tenants eager to snap up rental properties. The centre of Manchester is well known for attracting high numbers of students and young professionals, both of which are prime targets for buy-to-let investors.
Even in a post-Brexit landscape, the fundamentals of renting haven’t changed and investing in Manchester property is seen as a safe bet by savvy investors from both home and overseas.
If you are interested in Manchester property investment opportunities and want to find out more, contact us now on 0333 3001 888.