Hull seeing higher rental yields

Hull seeing higher rental yields

LendInvest’s latest Buy-to-Let Index report has found that the Hull postcode area has been biggest climber for 2017, rising 93 places, when judged on four critical metrics: capital gains, transaction volumes, rental yield and rental price growth.

Manchester takes top spot, while Leicester breaks into the Top 10 and Birmingham climbs eight places from 18 to 11.

Meanwhile, Enfield has fallen from the Top 10 in February to Bottom 10 in December.

Ian Boden, sales director at LendInvest, 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. Cities such as Leicester (#10), Birmingham (#11), and Nottingham (#24) have also made significant gains in the Index, signalling a clear fueling of the Midlands engine.

“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. However, the lack of Northern dominance in the remainder of the Top 10 Climbers is interesting to note in light of recent headlines that have suggested property investment in the North will outperform that of other regions around the country.

“Elsewhere in the list, it’s great to see towns like Slough, Leicester and Cambridge ascend the list with such gusto. 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. As we move into 2018 and roll out more of our new BTL loans, we look forward to working with investors countrywide on their property projects.”