Buy-to-let landlords are happier in the North West Of England
Residential properties in the North West of England provide better returns than in London for buy-to-let landlords. In fact North Wales & Cheshire have overtaken parts of London and the South to become more popular region for buy-to-let investors.
Savills estate agents’ figures show that in the North West there were over 8,000 buy-to-let property landlords in 2018. It’s the first time that these figures have been higher than those in the South of the country.
Property investors are being lured to the North West as property is generally cheaper and offers higher yields as opposed to the South and there is also scope for capital growth in the long term.
Although figures for buy-to-let investors rose in the North West generally they dipped across the country due to increased tax pressures, increasing stamp duties and a tightening of the mortgage market. The higher yields in the North West however mean that its still profitable for investors to let out property despite the other pressures on them.
Savills estate agents also predict an increase in house prices of over 20% in North Wales & Cheshire as opposed to less than 5% in London, so investors will also gain more in capital terms over time. As such it is not only local property investors but those from the South of the country looking for a bargain.
If you are a first time buy to let landlord in North Wales or Cheshire and you want free advice on buying a buy to let property from a fully qualified conveyancer then please contact us now. Using one of our specialist conveyancers ensures that your house move will proceed quickly and with the minimum amount of stress. We are accredited by the Solicitors Regulation Authority under their Conveyancing Quality Standard scheme so you know that you can trust us to provide you with clear information and price transparency from the start.
We have offices throughout North Wales and Cheshire and you can contact us safe in the knowledge that one of our expert conveyancers will take care of everything for you.