Southside and South Lanarkshire are among UK’s most profitable areas for buy-to-let

28/10/2019 08:34:56

South Lanarkshire and the southside of Glasgow are among of the most lucrative areas in the UK for landlords, providing some of the country’s highest buy-to-let yields, according to new research.

Properties in the G52 postcode area, which includes Cardonald, Mosspark and Penilee offer the third best returns nationally, with an average buy-to-let yield of 8.71%.

Landlords and property investors buying a property worth £82,000 can expect a monthly rental income of £595, according to the study by credit experts TotallyMoney.

The G32 post code area, which includes Rutherglen, Mount Vernon and, Sandyhills, provides landlords with a yield of 7.13% which equates to a rental income of £474 from an average property costing £79,995.

The FK3 postcode area in Falkirk has the UK’s second highest yield, behind L1 in Liverpool, providing a monthly rental income of £495 from an average property worth £62,450, a yield of 9.51%.  

This compares with a yield of just 1.9% in St Albans which has the UK’s poorest returns for landlords where the average buying price for a property is £800,000, providing an asking rent of £1,300.

Glasgow and South Lanarkshire have five of the top 25 most lucrative rental areas in the country with another southside postcode, G51, figuring prominently.

Landlords in the area, which includes Govan, Shieldhall, Kinning Park, Riverside and Drumoyne, can expect a rental income of £595 per calendar month from an average property costing £97,500, a buy-to-let yield of 7.32%.

A total of nine Scottish areas feature in the top 25 of the best yields. At the other end of the spectrum, several commuter belt areas have the lowest yields. They include RG10 in Reading (2.26%), GU10 in Guilford (2.22%) and KT7 in Kingston upon Thames (2.20%).

Archie Love, Director of Scottish Property Centre Motherwell, said: “Some landlords are questioning whether buy-to-let is still worth it, following a series of punitive measures introduced by Governments at Westminster and Holyrood.

“These findings demonstrate there are still pockets of profit for landlord investment with parts of central Scotland featuring prominently.

“Landlords should always do their research before committing to a property purchase. Understanding current market trends is part of that.”

For more information on buy-to-let opportunities in your area call your local Scottish Property Centre branch or visit www.scottishpropertycentre.net

 

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