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GoCompare launches tool to find best areas for buy to let with Manchester in top position

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  • 27/06/2018
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GoCompare launches tool to find best areas for buy to let with Manchester in top position
Manchester has been ranked as the best place to rent out a house with an average yield of 5.55%, except average yield.

 

The finding come from an interactive tool launched by GoCompare, that allows users to compare two different cities showing the best option for buy-to-let.

 

The tool compares cities across data points, including average property price and rental yields, population under 35, number of properties available, number of letting or maintenance agencies, number of new housing developments, properties currently available for rent and rental price growth.

 

best uk cities to be a landlord

Average Property Price

By towns, Stoke-on-Trent is the least expensive area to buy property with an average property price of £106k.

Oxford is one of the most expensive cities to buy a property with a price of £411k.

And London is in first position with the highest price, at an average of £484k, therefore renting a property out in the capital is an option that needs to be consider really carefully, according to GoCompare.

 

Rental Price Growth

Manchester takes the leading position on the ranking with growth of 5.76%.

The second position on the ranking with 5.30% growth is Leicester.

Cardiff is in the third position with a growth of 5%.

 

Average Yield

Manchester holds the top position. The average yield there is 5.55%, putting property owners in the city in a great position.

Sunderland takes the second position for yield with 5.37%.

Liverpool is a hotspot for owners, occupying the third place with an average yield of 5.05%.

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