York has been named the number one city for buy to let investments.
According to a study by the property group CBRE out of 29 economically significant towns and cities in the UK, York was the place that investors benefited most. With Edinburgh, Oxford, Milton Keynes, Warwick and Coventry also in the top 5.
Unlike other cities – including London, house prices in York have stayed low with many as much as 10% below the national average. While rents have continued on a steady increase making it a great area for savvy landlords looking for their next purchase.
York rents increased by 26% in last 12 months
Rents have increased by 26% in the past year and as highlighted in the Telegraph, this is down to the demand from young people in the city. With two large Universities as well as a huge graduate employment market the average rent in the city is now around £901 PCM.
The rental growth in York is now 7% higher than any other city and with the gorgeous scenery, vast history and vibrant culture it is easy to see why so many people want to spend time in this beautiful city.
To discuss your next buy to let purchase in York please contact Claire or Charlotte on 01904 231022 or pop into our office at 22 Walmgate, YO1 9TJ.
