Salford is the best city in the UK for Buy-to-let
Buy to let has become very popular in recent years.
A new study has revealed that Salford is the most profitable buy-to-let city after the stamp duty holiday pushed UK house prices to an all-time high.
Research by CIA Landlord reveals that Salford, with an average house price of £ 173,311 and an average rental price of £ 1,052 per month, is the best city for homeowners looking to purchase a new property for buy-to-let purposes.
The CIA owner calculated the best cities to buy to let under the latest government stamp duty holidays by looking at the average house price, rental price, and stamp duty savings in each UK city to obtain the lowest house prices and the highest rental yield profitability.
These are the worst cities to buy-to-let
Manchester closely follows Salford with house prices averaging £ 193,681, and rental income is £ 1,141 per month. Leeds, Portsmouth, and Belfast are also among the top five buy-to-rent hotspots.
High Wycombe in Buckinghamshire was ranked the worst city for homeowners buying a buy-to-let property, with median home prices reaching £ 430,891 and median rental prices of £ 945 per month.
Cambridge also saw low-profit margins, with median home prices of £ 448,432 and an average rental income of £ 1,080 per month. Reading, Worcester and Watford also rank at the bottom of the table in terms of profitability.
According to the study, Havering was the best profitable district in the capital, with house prices averaging £ 395,832 and monthly rental fees, reaching £ 1,895. Alternatively, with median home prices topping £ 2 million and median monthly rent of £ 4,003, Kensington and Chelsea’s properties have the lowest profitability margins.
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