UK Buy To Let Hotspots
Property has long been seen as a tried and trusted way to invest your money for long-term growth. If you're looking to take out a mortgage, remember that most lenders for Buy To Let properties will require at least a 25% deposit. If your buy to let property is going to be your second property, you'll also need to consider that you'll have to pay stamp duty. However, you'll currently pay a lower rate if you complete your property acquisition before the end of the stamp duty holiday in March 2021. Some responsibilities come with being a landlord, such as an EICR to say that your electrics are safe, gas safety certificates and fire safety so be aware of these.
So if you're keen to know where the best BTL City property hotspots are in the UK, take a look at the following list: The number one spot, for being the best city to invest in is:
Manchester has a track record of achieving impressive rental yields. Also, it boasts one of the largest rental markets in the UK with 31% of its population living in privately rented accommodation. Property in Manchester also has plenty of potential to achieve capital growth too.
Being home to the World-renowned Cambridge University, which is known to excel in research, science and technology. It's no surprise that Cambridge has a huge demand for people both wanting to buy and rent a property.
London has a huge demand for rental property. Not only this, but London has an impressive track record in terms of capital growth, which makes it difficult for other cities in the UK to compete with.
Oxford has a rapidly expanding population, which in turn comes with a high demand for property to both rent and buy. The rental yields might not be the best, but the average annual capital growth of 4.8% over the last decade should prove an enticing factor for property investors.
Brighton has all the amenities you get with living in a big city with the bonus of being by the sea. It's a popular location which is a quick train journey to Gatwick and London. There is a huge demand by professional tenants looking for rental property, the average rent for this City being £1280.
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