Rental Yields Continuing to Rise across England

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    New data released by specialist buy-to-let mortgage lender, Fleet Mortgages; shows that rental yields on residential properties have grown to 6.4% across England. Despite the recent lockdown and economic concerns, this is 0.4% higher than the third quarter of 2019. In the north of the country, the North East and Yorkshire & Humberside regions both reported positive rental growth in their property investment opportunities. The North East submitted the highest regional rental growth – up 2% year-on-year to 8.8%.


    Economic outlook positive for rents

    Steve Cox, distribution director at Fleet Mortgages said the current economic conditions in the UK were particularly beneficial for rental yields and property investment opportunities.

    He commented; “We learnt from the post-Credit Crunch period over a decade ago that rents are not as susceptible to a recession as property prices. With many occupants more willing to opt for the shorter-term financial commitment offered by renting than longer-term property ownership.

    “While the economic backdrop is not pretty. With the ongoing recession and uncertainty about the true impact on employment levels suggesting a negative outlook for rental demand; the early indications – as evidenced by our Barometer – are more promising with no suggestion of sharp falls in rental yields. Perhaps this is a result of pent-up demand and more households being formed as a result of the lockdown.”


    Northern city centres still in demand for property investment opportunities

    Although many property experts and landlords are reporting a fall in tenant demand in the centre of London, the same can’t be said for the north.

    Oli Banks, managing director of North Property Group, who specialise in northern residential properties, says that. “Unlike some places in the country, we’ve actually seen an increase in tenant demand. Properties in the centre cities like Leeds, Manchester, and Liverpool are particularly sought-after. Demand is so high at the moment that 38 units at our Green Quarter development in Leeds were successfully leased in ten days!

    “Northern city centres are definitely somewhere investors should be focusing on for property investment opportunities.”


    Ongoing impact of the stamp duty holiday

    It’s clear that the stamp duty holiday has also had an effect on the increased interest in property investment opportunities. According to Fleet Mortgages; there has been a clear rise in the number of new and existing landlords looking to purchase a buy-to-let property. They are set to take advantage of the UK’s strong rental yields.


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    To find out more about rental yields in the north or to register your interest in property investment opportunities, contact North Property Group today.

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    Manchester: +44 (0) 161 2449 060

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