Jonathan Stephens of property consultant Surrenden Invest recommends Manchester. He said:
“Manchester city centre has experienced an influx of buy-to-let activity throughout the last few years and now stands alongside the capital as a prime buy-to-let market within the UK.”
The latest Buy-to-Let index says that many Manchester landlords have experienced 6.25% yields on their property investments.
In Leeds, property prices have increased by 6% in 2016. If the HS2 rail project is completed, then this will likely make Leeds more attractive for investors. Graham Davidson of Sequre Property Investment pointed out that the city’s student population is the UK’s fourth largest and there is a high demand for rented accommodation.
Meanwhile, Rob Bence of the Property Hub believes that Hull is attractive for buy-to-let investors. He said about Hull:
“Yields are already fantastic, and with Hull gaining Capital of Culture status, plus the recent investment into the city, I expect to see property investors paying more attention to Hull.”
Frazer Fearnhead of The House Crowd suggests Stockport should be top of the list for investors. The town is establishing itself as a regional business hub, with rental yields of around 4.3%.
Lastly, Dale Hornidge of property management business No Agent favours Inverness because of its thriving rental sector.
These five towns may be the top places where commercial mortgages can be used for buy-to-let investments.