Recent findings in a report by a major national agent released in December indicated that the average rent for tenants in England and Wales has increased by 2.2% over the year (based on the 12 months between October 2017 and October 2018).
Luke Gidney, MD of Let Leeds said that “this is certainly something reflected in the rents across our portfolios of student and professional properties at Let Leeds. Demand for rental properties in Leeds remains high and, with a shortage of high-quality accommodation on the market, it means that our Landlords have benefitted from an increase in rental values over the past year”.
Rising rental values has contributed to good yields for investors across the UK and the average yield across England and Wales is now at 4.3%.
On the lower end of the scale sits London with an average of just 3.2% (based on data from December 2018). However, Landlords who have invested in Leeds are able to take advantage of the highest yields with some areas reaching a peak of 7.5%.
Luke Gidney, went on to state that “the popularity of Leeds as a buy-to-let investment location is set to continue. The combination of its large student and professional populations, coupled with low house prices, means investors can command good rent levels, excellent yields and low void periods”.
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