It’s not been a great time of late for the buy-to-let market, but things are picking up according to a new survey by The Mortgage Works.
‘The positive outlook of the first-time landlord market is also reflected in the professional landlord market,’ said Ian Andrew of The Mortgage Works.
’The overwhelming majority of brokers believe that most professional landlords will either maintain their stock or buy more properties in 2011, indicating a stable and improving market place. Either way, I think we can all be encouraged by this optimism, which is further supported by the fact that only 3% of brokers surveyed believe professional landlords will sell some of their properties.’
Statistics from property search engine Home.co.uk reveal where best to go in for buying-to-let by comparing returns to capital invested. It found that the worst places to let property in terms of gross rental yield are dominated by the most expensive parts of London (Knightsbridge, Charring Cross etc.) Outside of London, Margate fared the worst with a typical yield of 4.3%.
Whereas the best performing areas include Bootle in Merseyside (7.7%), Hamilton in South Lanarkshire (7.4%), Mansfield (7%), Brentford in West London (6.7%) and Hull (6.4%).