Manchester is the top place to be a landlord

Manchester is the top place to be a landlord

New research from LendInvest has revealed that Manchester is the top city in the UK to be a buy-to-let landlord based on rental yield, rental price growth, transaction volumes and capital gains. Other cities doing particularly well for landlords were Birmingham, Leicester and Hull.

Overall, LendInvest researched 105 postcode areas across England and Wales to see how the market was performing. Here are some of their key findings:

  • On average, properties in Manchester were achieving a rental yield of 5.5%
  • Hull was the most improved city for landlords, achieving yields of 4.2%
  • Enfield has dropped out of the top 10, with yields falling to 3.58%
  • Yields in Durham are poor compared to other UK cities, with yields dropping to 2.52%
  • Colchester achieved capital gains of 11.96%

Commenting on the research, Ian Boden, sales director at Lend Invest, said: “This month we see good news for the North and the Midlands as Manchester finally secures its spot in first place in our index after a closely watched climb to the top. Elsewhere in the list, it’s great to see to towns like Slough, Leicester and Cambridge ascend the list with such gusto.”

“Our biggest climber for the year was Hull. Since becoming ‘City of Culture’ back in January, Hull has received a new wave of confidence in the form of increased investment in the area, driven by higher rental yields.”

“The location of these high climbers, ranging from Cornwall to East Yorkshire, shows how dynamic and ever-changing UK property investment can be across the country.”