Properties to buy

Manchester is a top buy-to-let hotspot

Manchester is to lead European cities on urban regeneration

19th April 2013

Property investors looking to take advantage of the excellent returns of the buy-to-let sector should consider a Manchester property investment.

Research from HSBC reveals that Manchester is one of the top places for landlords to buy property and then rent out due to affordable purchase prices.

The average property price in the city is £102,631 with rents of £650 meaning that the average rental yield that a landlord can expect is 7.60 per cent.

The city ranks fourth in HSBC’s list of the UK's buy-to-let hotspots beaten only by Southampton, Blackpool and Kingston Upon Hull.

Despite the record high rents in the capital, London does not score highly in terms of rental yields due to the comparably high property prices.

Southwark was the best performing borough in London coming in at 13th place while Hammersmith and Fulham and Kensington and Chelsea are ranked in the bottom two places in the top 50.

This is down to the high initial outlay to buy a property, resulting in returns of just 3.42 per cent and 3.34 per cent respectively.

Peter Dockar, head of mortgagesat HSBC, said: "Buy-to-let remains a good investment for those looking for above average returns. Twenty-three of the top 50 areas offer yields above five per cent, significantly more than is available from more traditional savings options."

He also stressed the importance of landlords doing their research when searching for a property as it is often the case that the most in demand locations do not generate the best return.

For its research HSBC studied 50 towns and cities across the country with the highest concentration of private rental housing stock.

JJT Residential Services have a high class range of Media City apartments for sale for anyone considering property investment in

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