Nottingham best UK buy to let city
It is fair to say that if you are reading this, you have a strong impression of what Nottingham has to offer. At Liberty Gate, we believe that Nottingham is one of the best cities in the country and we are delighted to say that Nottingham has joined Liverpool at the top of the table with respect to buy to let cities in the UK.
With Nottingham and Liverpool battling it out at the top of the table, it is almost like the late 1970s! Back then, Forest and the Merseyside clubs were competing to be top dogs in England and in Europe, masterminded by footballing geniuses like Brian Clough and Bob Paisley. The current challenge to be the number one UK city for property investment may not capture people’s imagination in the way that the football battles did, but we still think they are very important.
Nottingham offers an attractive rental yield
In figures provided by the hotspot analysis undertaken by Private Finance, both cities offer an average rental yield of 6.2%, after you have considered mortgage costs. Liverpool has been number one since May of last year but Nottingham has moved level, partly thanks to the £121 increase in the average monthly rents found in the city.
As you would expect from property news, there are two sides to this story. Those who have already invested in Nottingham property or who are considering investing in the city will be glad to hear that the expected yield is on the rise. However, if you are a tenant in Nottingham, the news that rents are rising is hardly likely to fill you with joy and happiness.
Rents are rising due to a number of reasons
There are many reasons why Nottingham is experiencing a higher yield on rent, and why rents are rising. The two universities and a wide range of big employers offering jobs means that there is a strong level of demand for property in the area. Sadly, supply is not meeting this increased level of demand, and the shortage of property is the issue which leads to rents rising.
It is not as though it is only Nottingham who is suffering in this manner. The current condition of the UK property and rental markets owe a lot to the fact that there are not enough homes and there are not enough affordable homes. Until this changes, it is unlikely that there will be many major changes in the UK market, or in the Nottingham rental market.
While tenants may not be too happy about this notice, there is certainly something for landlords and property investors to consider. Nottingham, as a city, has a lot to offer, and this is matched with the returns on offer. If you are looking to make a smart investment, Nottingham could be the city for you and it makes sense to call on a local specialist.
To find out why Nottingham may be the city for your next buy to let investment, contact Liberty Gate today on 0115 824 8333. We are lettings specialists and we look forward to helping you take the next step.