It a strange time for the property market with lots of post-referendum hesitancy both from landlords and tenants. However I still regularly find myself talking to landlords who want to continue investing in bricks and mortar but don’t know where. Many are looking north where property prices are invariably cheaper so they can spread the risk and buy two properties for the price of one more locally.
One Landlord I met recently was looking to invest in Hull having never been there before and another in Luton, where he used to live and still has family
I’m always a little wary if people don’t know the area they want to invest in and live a long way away from it. If you don’t have experience or local knowledge and if you have to take a day off to actually go and see the property, it could turn out to be a costly mistake.
But for the landlord looking at Luton this may be a good selection. In a recent report by LendInvest, Luton was ranked the Top Buy-to-Let Town in the UK.
LendInvest Buy-to LetIndex
However, the report also found that Enfield landlords don’t need to travel to get a make a good investment as Enfield came an impressive third on the list. Our rents are increasing a bit slower than the other Top 10 Towns at 2.2%, however we have a very respectable yield and saw higher growth in capital gains than anywhere else!!
It’s great the Enfield is stillyear after year being cited as an investment hotspot, click here for a similar report fromlat=st year.
