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Most Profitable Investments Uk – Bristol has been named the best city to buy-to-let by owner, due to its healthy house price growth and high proportion of renters.
This is according to buy-to-let mortgage expert Aldermore’s Buy-to-Late State Tracker, which ranks 50 states based on their need for buy-to-let homeowners.
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Manchester, which received the best results last year, has dropped to fourth place because there are more properties than last year, and a decline in the rent.
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Number one: Bristol has been named the best city in the UK to shop. This is a side by side bank and mortgage lender Aldermore Buy-to-Buy City Tracker
Factors included in Aldermore’s numbers include median income, rents, house price growth over the past ten years, number of vacant properties as well as total housing live, and the percentage of the city’s population that rents.
One of Bristol’s main selling points to landlords is that it has returned the house price growth of the past decade.
The average house price in the city has risen from £212,261 in 2010 to £348,543 today, according to the Land Registry.
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This means that real estate prices have increased by 5.1 percent annually. The only town better in this respect is Luton.
Bristol is also one of the best cities for mortgage demand, with only 0.6 per cent of its housing stock being abandoned in the past year. This is only equaled by Oxford.
More than a third of Bristol’s residents are estimated to rent, creating a large pool of renters for landlords to draw from.
Aldermore’s Buy to let cities go hunting: Overall no cities and southern counties show better value, with Yorkshire, the North East and Wales falling to the bottom.
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Alexandra Tan, regional director of Andrews Property Group, said: ‘Business in Bristol is very light at the moment with strong demand across the board, and the This has never been seen before from a buy-to-let, who will find great resources in the city.
‘Bristol is appealing to young professionals and families who are moving out of London. Many are looking for a short time when they are looking for a place to buy.
Bristol appeals to young professionals and families who are moving out of London. Many are looking for a short time when they are looking for a place to buy
“There is also a large student population of about 50,000 in the city, which means that there is a great need for good student resources.”
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However, buyers thinking of buying in Bristol will find the property less attractive than in other cities.
With an average property price in Bristol of £348,543 and an average annual rent of £16,037, a legitimate investor can expect a return on their purchase of 4.6 percent.
Rental income is the percentage of income that the owner can expect to pay the purchase price each year.
For example, 5 per cent on a property of £200,000 is £100,000 per year in taxable income.
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According to Aldermore’s analysis, buy-to-let in southern cities appears to be more profitable than elsewhere in the UK.
Over the past 10 years, people who have invested in buy-to-let properties in southern cities have reaped the rewards of substantial home prices.
For example, second-place Oxford and third-place Cambridge gave home owners an annual return of 5 and 4.9 percent, respectively, based on house price growth alone.
Both cities also benefit from low unemployment rates (0.6 and 0.7 percent) together with a high percentage of the population that is employed – 29 percent
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London, which has continued its descent from the Aldermore union in recent years, still comes in sixth, because most of the private sector in the city.
The price of a property in London rose from £414,000 in 2010 to £659,000, according to new land registry data.
As much as 20 percent of the city’s population are paying private rent, second only to Bournemouth where 35 percent of people are paying rent.
However, high housing prices mean that the results of all the requests of the ten cities are comparatively low.
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Oxford, Cambridge, London and Brighton give results of 3 and 3.6 percent, which are lower than other cities in hunting.
For those looking for a more affordable loan, Glasgow and Hull offer average loan rates of 9.4 and 8.9 percent.
Investors looking for good profits are being tempted to explore further north. Glasgow offers a typical rental income of 9.4 per cent, for example, and Hull 8.9 per cent
Hull currently has an average house price of £127,344, which means it remains the cheapest city of all 50 places included in the hunt.
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However, properties with higher yields are often seen as higher risk, as they are often located in areas where owners may find it more difficult to re-let or sell their home. if needed.
Other counties that have benefited include Stoke, offering 8.3 per cent yield and 8.1 per cent yield; and Dundee and Sunderland yielded 7.8 and 7.7 per cent.
In addition, there are some indications that housing prices in some cities, which did not enjoy the increase in housing prices of the last decade, may have received a start.
Liverpool, which finds itself 33rd on Aldermore’s list, has seen a 10.6 percent house price increase in the past year alone, according to the latest Zoopla Hometrack report.
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Cities in the North West, East Midlands and Yorkshire and the Humber region have produced some of the best property growth on record over the past 12 months.
But the city has a long-term unemployment rate of 2.2 percent, suggesting that investors should do their research before buying.
Manchester, which has an average yield of 5.9 percent, saw house prices rise 8.7 percent
And Sheffield and Belfast, which came in 46th and 43rd in Aldermore’s hunt, saw house prices rise by 7.9 and 7.7 per cent respectively.
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The Hamptons’ four-year forecast predicts the biggest increases in house prices will occur in Scotland and the North East between 2021 and 2024.
North Star: Between now and 2024, the Hamptons expects house prices to grow across the UK region to get prices in the north playing with those in the south.
It is predicted that house prices will increase by 20 per centin Scotland and 21.5 percentin the North East in the next four years.
On the other hand, it is only estimated that London will have 7 percent of house price growth in that period, while the South West and East of England are set better with only 11 percent hundred percent growth has been estimated.
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Liverpool, Manchester and Sheffield are the city hotspots for house price growth right now, according to Zoopla data
However, choosing to buy a rental house is not as easy as looking at where to rent on a map.
There is always an element of guesswork when it comes to predicting future housing prices, but seeing improvements in demand in the city will help investors make more informed decisions.
For example, it is possible that transportation has expanded, large housing projects have occurred, or new stores have appeared downtown.
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Michael Cook, national director for property management firm Romano Group, said: ‘Buy-to-let investors in cities benefit from major projects and transportation and all kinds of new construction.
‘The town and city and the Crossrail road deal will also prove good options, with an estimate to contribute £42billion to the UK economy.
“This will improve transport in London and the South East, as well as driving domestic traffic, encouraging regeneration and employment and business development.”
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