Fastest Growing Rental Yields Found in the North
By |Published On: 11th February 2020|

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Fastest Growing Rental Yields Found in the North

By |Published On: 11th February 2020|

This article is an external press release originally published on the Landlord News website, which has now been migrated to the Just Landlords blog.

The North of England was the best region for rental yields in the final quarter of last year, as demand continued to outpace supply. 

According to data provided by Fleet Mortgages’ new buy-to-let index, rent as a percentage of property value rose by 2.6% in Q4 last year, rising to an average of 9.1% across the region. This is up from 6.5% in Q4 of 2018. 

In the south, Greater London yields edged up by 0.3% from 4.8% to 5.1%, whilst in the South West, yields held fast at 5.5%.

Across the country, average yields in England and Wales rose 0.7%. There was only one region to see a drop in rental yields compared to last year, and that was the North West, where they took a slight dip from 7.5% to 7.4%. 

Steve Cox,  distribution director at Fleet Mortgages, said: “Clearly, the market has shifted over the past 18-24 months as landlords get to grips with the increased costs that come with private rental sector activity, in particular the phased-in changes to mortgage interest tax relief for individual landlords.

Fastest Growing Rental Yields Found in the North“Landlords now tend to look differently at their properties, with many converting single-tenancy properties into multi-tenant ones in order to secure better yields. These higher yields are needed in order meet those growing tax liabilities, but to also offset the increased cost of acquiring tenants and regulation. Examples of these changes include more properties being converted into self-contained flats rather than keeping the property as a larger family home.”

About the Author: Em Morley (she/they)

Em is the Content Marketing Manager for Just Landlords, with over five years of experience writing for insurance and property websites. Together with the knowledge and expertise of the Just Landlords underwriting team, Em aims to provide those in the property industry with helpful resources. When she’s not at her computer researching and writing property and insurance guides, you’ll find her exploring the British countryside, searching for geocaches.

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