UK Buy-To-Let Charts: Where Is Best To Invest In Property?
With rents in England and Wales approaching their record high, where exactly is best for property investors to invest their money this year?
Scotland has recently been named the best UK location for student buy-to-let investments, with Glasgow in particular topping the chart with annual returns of close to 5% on investments. To put it into perspective, the UK average is 3.8%.
Edinburgh, despite not being as lucrative as Glasgow, also performs above the UK average, boasting annual returns of 3.96% on investments.
Ashley Baxter, Company Director of Brokers Direct, says “Buying property to let to students can often seem an unattractive option to property investors. Tenancies are short-lived and seasonal, yet they can offer good returns. With the correct preparation, it doesn’t have to be stressful. A good landlord insurance policy accompanied with rent and legal protection would help set the landlord up with peace of mind.”
Of course, student lets aren’t the only option, with the average cost of rent in England and Wales averaging £743. Research shows the average annual return on buy-to-let property has risen from 5.6% in July ’13, to 6.2% in August ’13.
Ashley continues: “There has never been a better time to rent property. Late payments from tenants have dropped by £10 million from July to August of this year, and anyone who has let their property knows that late payments can be a big concern, so this is a good figure to see.”
Of course, adequate preparation for anyone investing in buy-to-let property is required, whether it is landlord legislation or having the correct cover in place.
Brokers Direct has put together a handy checklist for landlords who are new to buy-to-let and need some guidance. Brokers Direct has been specialising in buy-to-let for over 10 years and has created an insurance policy specifically for landlords, which is low cost yet comprehensive. Rent and legal protection cover is a perfect addition to accompany any landlord policy, protecting landlords against unpaid rent.
Article courtesy of Landlord Expert