OXFORD has been named top city for buy to let properties but rooms will cost tenants on average £596 per room per month.
A new survey by Aldermore, based on figures provided by the Office of National Statistics, has ranked 25 cities for buy to let investments.
Aldermore’s new Buy-to-Let City Tracker found Oxford, closely followed by Manchester, to be the best.
READ AGAIN: Jericho residents say reopen Walton Street following closure
The Tracker was determined by analysing and assessing five key indicators that impact desirability; average total rent, the best short-term returns through yield, long-term return through house price growth over the past 10 years, the lowest number of vacancies as a proportion of total housing stock, and percentage of the city population in the rental market.
Darren Meehan, Director of Bright Money Independent Mortgage Brokers, said: "Oxford has always had a strong demand for rental properties, due to Oxford Brookes University, Oxford University and the hospitals.
READ AGAIN: Circus leader Nell Gifford dies
"The level of professional renters is attractive due to the low voids for owners, long tenancies that professionals take, and the properties tend to be well looked after.
"With the large volumes of new housing stock being built all over Oxfordshire, such as Didcot, there are a lot of new opportunities.”
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereLast Updated:
Report this comment Cancel