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Wyre Forest ‘is 2nd best place to be a long-term landlord’

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Wyre Forest ‘is 2nd best place to be a long-term landlord’

by Midlands Lifestyle Team
July 5, 2020
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Wyre Forest ‘is 2nd best place to be a long-term landlord’
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WYRE Forest is one of the best places in the country to be a long-term landlord, according to research conducted by lettings managers Howsy.

The platform has analysed the current average rental yield and the annual house growth across the UK to rank areas by their combined value to long-term landlords.

Rossendale in Lancashire had the best combination of yield and price growth. The area was marginally below the national average of 5 per cent, but with property values rising by 18 per cent in the last year – a huge increase on the 2 per cent average – the district is proving to be a great investment for landlords.

Wyre Forest is home to similar statistics. A below-average rental yield of three per 3 per cent may bring a smaller monthly income via rent, but house prices are up by a substantial 17 per cent in the last year.

Gravesham, Hyndburn, Kensington and Chelsea, Westminster, Dundee and Leicester also rank high where the combination of rental yields and house price appreciation is concerned.

London is the region home to the most favourable combination with an increase of 5 per cent in property values, while the average buy-to-let returns a 4 per cent yield.

The North West and South West also offer a similar combination of 3 per cent and 4 per cent in house price growth and 5 per cent and 4 per cent in rental yields respectively.

Founder and CEO of Howsy, Calum Brannan, said: “As a landlord, it can be easy to get bogged down in the almost immediate financial viability of a buy-to-let investment – understandable given the unpredictability of house price growth in the long-term and so the rental yield available is often the only current data available during the decision-making process.

“However, there are plenty of areas across the UK that might not present the best yields nationally but have delivered a substantially larger return where house price growth is concerned.

“As the figures show, this isn’t restricted to one area of the market, and this is certainly something to be considered when investing.

“For the majority of landlords, their portfolio is their pension pot and so while ongoing rental income is essential, keeping an eye on cashing out and the overall value of your portfolio when you do is also advised.”



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Midlands Lifestyle Team

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