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Want best buy-to-let returns – take a look at Birmingham
A survey of buy-to-let properties in England and Wales has discovered Birmingham is the area of country with the best buy-to-let returns to investors.
Move with Us looked at buy-to-let returns on two bedroom flats across the country and found the B7 postcode in Birmingham proved best for rental yields, returning an average of 10.6%.
This was slightly ahead of Kent’s TN28 postcode which offered returns of 10.5% while two other postcodes in England’s second city – B35 and B18 – were also in the top 10 locations for buy-to-let properties.
London continued to offer weak returns to buy-to-let investors with an average yield of less than 4% on properties across the city according to the research.
The best yields to be found in the English capital were in Lower Edmonton (N9) which typically returned 7.8% while properties in Cardiff returned an average of 7.5%.
Sean King, chief executive officer at Move with Us, said: “Landlords looking to maximise yield will need to look outside of central London. Commuter belts to the west and east of London are clearly yield hot spots as renters look to access the capital’s work and social opportunities without the cost of renting a central London property.”
“Birmingham has three postal districts in the top 10 which indicates that the second city’s rental sector presents significant opportunities.”
Post courtesy of Mortgage Solutions.