Property Investment Areas

Best areas for buy to let

One of the key aspects of investing in buy-to-let properties has to be the property itself. You are going to want to make sure that the property that you choose to invest in (to then rent out) is the best one possible.
Not only for you as a landlord but also for your tenants too.
You not only want to think about the property, as in how it looks but also the area that it is in. Certain tenants are going to be looking for certain things in their homes, which means that you are going to need to try and appeal to them as best that you can.
Of course, the area that you choose to buy a buy-to-let property in is going to depend on the type of tenant that you are looking for. However, some parts of the UK are proving to be a great “all-around” choice for those landlords who are looking for their perfect tenant.

Manchester

It is worth noting that as a city, Manchester does have a higher property purchase price than lots of other places in the area. However, this is then matched by higher rental prices too.
The average property price in Manchester is around the £250,000 mark, which is costly when you consider other parts of the UK, however, the median market rental charge that you can expect to be able to charge in Manchester is £2,200 which as you can see, is still going to help you to achieve a return for your investment.

Bradford

Staying up in the northern part of the UK we have Bradford. Now, unlike the bustling metropolitan city of Manchester, the property prices in Bradford are far more modest. The average price that you can expect to pay is £58,325, which is a much lower initial investment for those who are just starting to pay.
That said, you do need to also bear in mind that the average monthly rental charge is around the £600 mark. Although, this does still work out to be a rental yield of just over 12%.

Swansea

Moving away from the north of the UK, Wales is also known for having a great reputation for landlords. Swansea in particular has that perfect combination of lower property prices of around the £150,000 mark, but is then combined with a higher rental income than other cities and towns around it.
Properties in Swansea sit around an average price of £1,200 per month. Which means that they are going to be a great way to bring in some money.

Birmingham

If you are looking for a higher rental yield, but still keeping in a city area then you can always consider Birmingham. There are a wide variety of reasons why Birmingham is a great place to live and the rental yield percentage also makes it an attractive investment spot for some property investors.
Birmingham property prices can be expensive with the average around the £280,000 mark, but the rental amount can also be set relatively high, which takes the rental yield up to around the 8% mark, which is still a sound investment to make.

London

Of course, many property investors are put off buying in and renting out in London, simply because the property prices are more costly than in other places. However, London can also be a great place to invest in rental property.
The main reason for this is that there are always people looking to rent in London and they are usually more prepared to pay higher prices for their rental property. London has certain areas that are higher in rental yield than others.
Greenwich is one of the better areas to invest in if you are looking to buy in London, it has a rental yield of around the 6.36% mark.
It is important to remember with buy to-let properties that you need to buy where is best for you. After all, you are going to be the one who has to manage the property and ensure that the needs of the tenants are met.