This high rate proves that buy-to-let properties remain an attractive income investment and has attracted investors to the northern city.
The study examined the average rental yield in 50 major towns and cities across the UK and found that yields in the north are typically higher, reflecting the fact that properties cost significantly more in the south, meaning that buy-to-let Landlords are left with comparatively low returns.
Tarlochan Garcha, CEO of Kuflink, stated: “The rift between north and south continues, but this time the attention is turning north. Buy-to-let properties in the north can be a steady investment, attracting renters who cannot afford to step onto the property ladder and therefore choose to rent in good locations, which are well-suited to their lifestyle. It could be time for Landlords to turn their attention away from pricey London and look to the UK’s regional cities.”
Leeds is a bustling city which is increasingly popular with students, young professionals and families and as a result can offer solid returns for Landlords.
Luke Gidney, MD of Let Leeds said “there has never been a better time to invest in Leeds. There are many investors sitting on their hands due to the uncertainty surrounding Brexit and the mortgage relief tax changes, however, those that are looking to invest are finding excellent value property investments as well as record low interest rates. Where else can you invest your cash and enjoy 5.67% return on your investment?”
Let Leeds offers a property sourcing service for investors looking to purchase buy-to-let property in Leeds. Why not call our Sales Team on 0113 320 2000 to find out more.