Investors looking outside of London for BTL properties
The appetite for buy to let investors is on the rise. 1 in 10 properties sold in Great Britain between January and March was a BTL investment. During this time period, BTL landlords bought 42,980 homes, approx. £8.5bn worth of property, latest figures show.
Investors have been on the lookout for the highest yield locations to maximise return on investment opportunities, and more investors are looking outside of London.
A record 73% of London-based landlords bought buy-to-lets outside the capital in 2022, up from just 24% a decade ago. The northeast of England saw the biggest year-on-year increase in BTL purchases, with investors buying 28% of homes sold in the region, more than twice the share bought by first-time buyers.
The northeast is becoming a more desired location for investors as it currently offers the highest gross yields in the country, averaging 9% compared to 6.5% across England & Wales.
If you're a BTL investor, where should you be looking? We take a deeper look into where investors are snapping up BTL properties and the locations with the highest average gross yields.
References
yahoo @ yhoo.it/3K8DC1n
hamptons@ bit.ly/3EMT5mE
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