Top buy-to-let hotspots
The buy-to-let market could be a shining light when it comes to property investment. In fact, according to research, average UK rents have increased by 13.6% since 2009; and in addition to this, the latest Census figures show that the proportion of UK households renting is now at 36% compared to 31% ten years ago . So, if you have the money to invest in property, choosing the buy-to-let market could be the way to go.
There are many buy-to-let mortgage options, but you may want to consider a buy-to-let mortgage with Virgin Money. You’ll then need to think extremely carefully about the area you choose and your potential tenants. Here we take a look at the top buy-to-let hotspots for 2013.
Southwark, East London
While the likes of Borough Market and London Dungeon have always attracted visitors to Southwark; there hasn’t always been a lot to offer those looking to base themselves here, other than the close proximity to Guys Hospital for the medical student population. However following the building of The Shard, the likes of Bermondsey are now bustling with digital media companies and small businesses. Southwark is booming!
- Average price of two bedroom property: £364,000
- Expected rent of two bedroom property: £21,400
- Gross Yield: 5.9%
York, Yorkshire
As such a picturesque city, York offers so much for tourists and residents alike including the stunning York Minster, ruins of St. Mary’s Abbey, and its intriguing winding streets. It’s also one of the top buy-to-let locations for 2013 and looks a good bet for investment this year.
- Average price of two bedroom property: £149,000
- Expected rent of two bedroom property: £9,400
- Gross Yield: 6.3%
Cambridge, Cambridgeshire
It’s not just the big student population that makes Cambridge a top choice for buy-to-let investors. With large sprawling green spaces, stunning architecture and picture perfect river scenes; this is one of the most desirable places to live in the UK, making it an ideal location for your buy-to-let investment.
- Average price of two bedroom property: £191,000
- Expected rent of two bedroom property: £11,000
- Gross Yield: 5.8%
Brighton, East Sussex
The benefits of Brighton are clear. Warmer weather than the majority of the UK, beaches, a vibrant culture and it’s close enough to London to make it into the city in less than an hour and a half. It’s always been one of the most desirable locations in Britain and also appears great value for a buy-to-let investment this year.
- Average price of two bedroom property: £225,000
- Expected rent of two bedroom property: £12,700
- Gross Yield: 5.6%
If you’re looking into the buy-to-let market, it sometimes pays to look a little further afield from your current location. Why not choose one of these top locations?
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