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Midlands and North top for buy-to-let yield and tenant demand

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22/01/2013
Landlords in the Midlands and the North saw above average rental yields and the highest growth in tenant demand, Countrywide has reported.
Midlands and North top for buy-to-let yield and tenant demand

The average rental yield in the Midlands was 6.60%, while the North saw the second highest yield at 6.55%, compared to a UK average of 6.18% for properties purchased and rented through Countrywide.

Tenant demand almost doubled in the North and increased by 38% in the Midlands.

Countrywide group commercial director Nick Dunning said: “The availability of more competitive buy-to-let mortgage products, along with fantastic yields, is creating a good opportunity for investor landlords to expand their portfolios to match the high demand for rental accommodation, as renting for longer is becoming the new norm.”

London landlords collected the highest average rent, which at £1,651 was almost twice that of the next most expensive region, the South. However, growth in tenant demand was the lowest in the country at only 6%.

Scotland saw the lowest average rent, the lowest average yield and a growth in tenant demand of 18%, the second lowest.

Mortgages for Business managing director David Whittaker said his company’s own research showed buy-to-let demand was strong across the regions: “It is indicative of a market where there is still greater propensity to rent then buy.”

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