One of the best things about the buy to let market is that it is extremely flexible. You may have personal reasons for setting up in an area, and a lot of landlords like to buy property in a convenient location, but you can purchase buy to let property anywhere.
Of course, not all areas are the same and just because you can buy property doesn’t mean that you should. You must consider your options carefully because a mistake at this stage of the process could cause you significant problems and trouble. However, if you make the right call at this point, you will find that you have a chance to make the most of your investment.
The right location makes all the difference
The importance of the right location has been reinforced by LendInvest. This is a marketplace platform which focuses on the UK mortgages market, and they publish an index report on the Buy to let market. If you have an interest in this sector, you should find that there is something of interest to you.
The index focuses on England and Wales and it takes four metrics into consideration:
- Rental Price Growth
- Rental Yield
- Transaction Volumes
- Capital Value Growth
It is no surprise that areas in the south of the country are slipping. Luton was once the table topper, but that town now sits in tenth place. At Spencer Harvey, we are not surprised by this, and we aren’t surprised at the town that currently sits in second place in the overall rankings.
Stockport has a lot to offer
Stockport is the second-ranked town in the index and it sits above Manchester, who is currently third. This means it is Stockport that is now the regional leader, and for anyone looking to make an investment in this part of the country, we believe you should set your sights on what Stockport has to offer.
This is a view that is shared by Ian Boden, who is a Sales Director at LendInvest. Mr Bodin said; “ This quarter has returned some interesting results. Smaller towns in both the North and Midlands are making swift gains up the table to rival the typical hot spots in each region. Stockport has taken the lead over Manchester this quarter, and Harrogate is in hot pursuit of its larger neighbour Leeds.
Looking towards the centre of the UK, Midlands cities Wolverhampton and Peterborough have smashed into the Top 10, joining successful regional capital Birmingham. The growing opportunity for BTL investors in these regions reflects a knock on effect of investment in these key cities.”
As Stockport property specialists, we want to ensure you stay in touch with the latest property news. If you are looking for assistance in this area, give Spencer Harvey a call on 0161 480 8888 or send us an email at info@spencerharvey.co.uk. For a free valuation please visit: https://www.spencerharvey.co.uk/valuation-enquiry.html