The price comparison website, Go Compare, has launched a new tool for buy-to-let landlords that will help them compare prices and rental yields across the UK.
The website allows landlords to rank UK cities on a number of criteria, including the average property price, rental yields, rental growth, population under 35, and the number of properties available.
According to the company’s research, Stoke-on-Trent is currently the least expensive place to buy a property in England, with the average property price at £106,000, compared to London’s £484,173.
Manchester has the fastest rental growth, with prices rising by 5.76 per cent in the past year, followed by Leicester and Cardiff, with rental prices rising by 5.3 per cent and 5 per cent.
Manchester also holds the top spot for rental yields, with average yields of 5.5 per cent. This is followed by Sunderland, with rental yields of 5.37 per cent and Liverpool, where rental yields are 5.05 per cent.
The city with the worst overall ranking for buying buy-to-let properties is Belfast, according to Go Compare’s new tool. Despite the fact that the average property price is one of the lowest in the UK, at just £122,434, you can only expect yields of around 3.77 per cent.
Oxford also came low in the rankings, because although the city has one of the highest average property prices at £411,108, its average yield of 3.61 per cent is one of the lowest on the list.
-
The 5 things about renting your first apartment you need to know — trust us, we have 33 years of renting experienceI asked the Real Homes team for their top tips on renting your first apartment and they didn't disappoint
-
11 questions to ask when renting an apartmentBefore you sign that dotted line
-
Why I choose to be a forever renter. Magnolia walls and all.Renting vs buying: Why I'm happy not being a homeowner.
-
How to rent a house or apartment successfully: first rental or notWhether it's your first time as a tenant or not, knowing the ins and outs of how to rent a house or apartment is a must for a smooth ride.
-
The five cities where rents are going down in the USA new report reveals the cities where rents are actually going down in price
-
Renters: now you can review your landlord, good or badMarks Out Of Tenancy lets you rate your landlord, estate agent, and property so future renters know what they're getting into – and to ensure standards are kept high
-
Home ownership remains an aspiration for renters, but the majority don’t think they will ever own their own homeRenters are increasingly disillusioned by a system that gives them no chance to get on the property ladder – but not with the idea of home ownership itself, latest stats show
-
Cohabiting couples are the fastest growing family type, and couples wait just 19 months on average to move in
There are more unmarried couples living together than ever before, but the time it takes them to cohabit varies regionally
