New study by mortgage broker Private Finance reveals the figure for the city, after mortgage costs have been deducted, is way ahead of its closest competitors. Tony McDonough reports
Liverpool is a “hotspot” for buy-to-let investors in the UK with average rental yields of 8%, new research shows.
The study by mortgage broker Private Finance reveals the figure for the city, after mortgage costs have been deducted, is way ahead of its closest competitors Nottingham at 5.6% and Coventry at 5.4% and Greater Manchester at 4.3%.
It said the average house price in Liverpool is £122,283 with the average monthly rent £1,201.
The report said that those cities with the lowest house prices were offering the most attractive yields.
Helen Griffin-Booth, director at Liverpool-based sales, lettings and investment agency Bluerow Homes, said: “The rental yields on offer in Liverpool are truly off the scale and I urge landlords and prospective landlords to build their buy-to-let empire in Liverpool.
“Those looking to invest in the property sector should take advantage of the current rental climate in the city where house prices remain relatively low.
“Liverpool’s rental market has seen a significant boost from students and a rising number of young professionals choosing the city to grow their careers.
“Location is vastly important in choosing where to invest in property and cities like Liverpool that have growing industries, universities and affordable housing will continue to thrive as buy-to-let hotspots.”