The Telegraph this week published their top ten postcodes for ‘buy to let’ investment, with Sheffield city centre (S1) being at number 1.
They reported that S1 – Sheffield City Centre was delivering a Median monthly rent of £645, a Median asking price of £69,995, with 108 properties currently for sale.
“Sheffield city centre offers buy-to-let investors the best returns in the UK, according to research across more than 2,600 postcodes. Comparison website TotallyMoney.com published a report today that showed investors can expect a gross yield of just over 11pc. Some parts of Aberdeen produce yields of 10.43pc, while Bradford city centre offers 9.18pc returns.”
“Gross yields, which average 4.17pc nationwide, are calculated by dividing the median annual rent by the median asking price. They do not take account of tax, mortgage repayments and maintenance costs. These will eat into returns, however cheap mortgage deals and high rents are currently helping to boost landlords’ profits. Lenders have launched a flurry of cheap buy-to-let mortgage deals thanks to market expectations that an interest rate rise is some way off.”
If you are looking to invest in property in Sheffield, whether for the first time or to expand your existing portfolio, make sure you speak to Belvoir! Sheffield first, before you buy.
Belvoir! Sheffield is the one stop specialist for Sales and Residential Lettings and Property Management, Investment and Wealth Management Advice, Fit-outs and Renovations, Property Insurances and Mortgages. Belvoir! Sheffield was the winner of the Belvoir Franchise of the Year Award for 2013 and is a multi award winning agency.
For more information, please call 0114 25 25 215. Alternatively, please email rick@belvoirsheffield.com
For the most up to date information relevant to landlords, vendors, and buyers of owner occupied and Buy to let property inSheffield ensure you follow Belvoir! Sheffield on either Google+, Facebook, Twitter or visit our website for property lettings or property sales.
