Manchester tops buy-to-let league
Buy-to-let landlords looking for a good investment could find the best returns in Manchester, according to new research.
The north-west has come top of the table for its rental yield and annual returns, the figures from Birmingham Midshires and the Association of Residential Letting Agents reveal.
Buy-to-let properties in the north-west of England brought an average rental yield of 5.9 per cent and annual returns of 12.7 per cent during the second quarter of 2006, beating Greater London, the north-east and Yorkshire to first place.
"The buy-to-let market has experienced consistent growth over the last ten years," said Tim Hague, director of mortgages at Birmingham Midshires.
"Research shows that buy-to-let investors plan to stay in the market for an average of seventeen years and when you consider the potential returns from both the rental yields and capital appreciation, it's easy to see why.
"More and more people now see letting property as an achievable investment and an important part of a balanced investment portfolio."
Buy-to-let investors in Manchester could particularly benefit from the city's large student population, as 90 per cent of students will live in private rented accommodation during their time at university, according to the National Landlords Association.
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