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Buy-to-let: seaside towns offer best returns

 

 

Port cities and seaside towns head up the table of the most lucrative places to buy property to rent out, according to latest research.

Landlords with houses in Southampton, Blackpool and Kingston-upon-Hull are all achieving typical rental yields of almost 8% on their buy-to-let properties, according to HSBC – the highest in the country. Manchester, Nottingham and Coventry are not far behind.

"Buy to let remains a good investment for those looking for above-average returns. Twenty-three of the top 50 areas offer yields above 5%, significantly more than is available from more traditional savings options," said Peter Dockar, head of mortgages at HSBC. "However, it is clear there is a fine line between a property in a desirable area, the rents that can be achieved and the returns that can be yielded."

This looks to be the case in London – the capital did not make it into the top 10 best places for buy-to-let. Due to its high property prices, rental yields are "relatively modest", according to HSBC.

The best returns come from the borough of Southwark, home to the Shard, Southwark cathedral and foodie favourite Borough market. The average property price there is £401,405 and the average rent £2,058, giving a rental yield of just over 6%. In well-heeled Kensington and Chelsea, where the average property price is just over £1m, rental yields are the lowest for the capital at just over 3%.

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A terrace house for £1 or £250m – Britain's bizarre housing crisisNews in austerity Britain is not short on grotesque juxtapositions, but there was one this week that was just so spectacular that it couldn't pass without comment. In the same week, terrace houses were expected to change hands in different parts of the country for £250m and £1. That, respectively, is the most expensive housing ever sold in the UK, and some of the cheapest, were it not for councils' occasional tendency to give council estates to developers for free. What sort of urban landscape is it that has such things occurring at once, and what sort of places are these that are so astonishingly disparate in asking price?

Half of privately owned homes are 'under-occupied' Research from Nationwide shows 49% of owned homes have two or more spare bedrooms, while in the private rental sector only 16% do

Buy-to-let: seaside towns offer best returns Landlords in Southampton, Blackpool and Hull achieve rental yields of almost 8% – the highest in the country

Budget 2013: Housebuilders' shares soar as Osborne promises billionsHomebuilders' shares soared after the Chancellor committed billions of pounds of Government backing to get the housing market moving.

 
 
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