Landlords looking to invest in buy-to-let property are taking a greater interest in Leeds, according to data from Barclays Mortgages. Having revealed the top 20 buy-to-let hotspots in the UK, it shows that Leeds is now ranked 7th (by volume of Barclays completed buy-to-let properties) – up from 47 in 2014.
These finding were arrived at after having analysed more than 5,000 of its buy-to-let customers who purchased a property over the last 12 months.
With house prices in Leeds having grown healthily since 2013, many accidental landlords are beginning to sell their properties, sparking a flurry of activity among the over-55s that now have the ability to cash in their pensions.
According to the latest data from the Equity Release Council, equity release lending to home owners over the age of 55 totalled £384.3 million in the second quarter of 2015 – the highest amount since records began.
Barclays research also included a survey of buy-to-let property investors. Two-thirds of landlords described the current buy-to-let market as ‘buoyant’.
With demand for rental properties in Leeds being as high as it is, it’s no wonder buy-to-let investors are scrambling to get a piece of the action.