With savers receiving poor returns from banks and building societies, thousands of people unsurprisingly continue to turn to residential property as a means of supplementing their income, supported by low mortgage borrowing rates, solid demand from tenants and stable yields, as buy-to-let consolidates itself as the investment of choice.
Despite a challenging few years for the buy-to-let market, characterised by tax and regulatory changes, investment in buy-to-let continues to outperform most major asset classes, as Britain’s rented sector continues to expand, with a sixth of the population – some 10 million people – now living in accommodation rented from private landlords.
New research from CIA Landlord looked at the best cities to become a landlord based on the average property price, mortgage amount, average rent from tenants, and the monthly costs of being a landlord to calculate monthly profit.
Whilst Brighton took the title of the best city to become a landlord for the last few years, it has been revealed that in 2022 London is the most profitable city to become a landlord. Here, landlords can expect to make an average monthly profit of £996.76. Newry, Bangor, and Brighton follow with £746.51, £603.01, and £544.76 average profit per month respectively.
Top 10 places to become a landlord based on average property price, mortgage amount, average rent, and monthly costs vs profits:
Read the full article on Property Industry Eye | JANUARY 18, 2022 | MARC DA SILVA
Estate Agents
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