The best buy-to-let investors keep information at their fingertips so they can make informed decisions quickly. This interactive map of the top UK rental hotspots shows you at a glance where the concentrations of rental properties are, so there’s no longer any need to laboriously crunch a lot of data to make your decisions.
What’s more, the information comes from an authoritative source you can trust. It takes the latest, difficult to digest government statistics and turns them into an accessible map that visually represents the hotspots in shades of red and the more challenging areas in an icy blue. Landlords can zoom into the map, or search by postcode, to find more detailed information. This includes:
- The average rental price
- The total number of properties
- The total number of rented properties and its percentage share
- Whether rental properties are privately rents or social rents
So, what does it reveal? The best way to find out is to use it: it’s remarkably intuitive but endlessly informative. Here are some headline statistics that can be gleaned from the map.
- There are 3 rental properties for every 7 owned properties in the UK, but this proportion varies wildly from area to area.
- The hottest concentrations of rented property, for example, include Inner London (with 63% rented housing), Manchester (with 59%) and Glasgow (with 53%). In these areas more than half of the houses are rented.
- The areas where homeownership dominates include East Dunbartonshire and East Renfrewshire (in which rental properties represent only 17% of the housing stock).
Of course buy-to-let decisions are not made on the basis of extreme examples. Using this map you can see if relocating your investments to an adjacent area may offer you a better chance of securing returns: and it is exactly such small adjustments that can make the difference to your yields.
There is still much that a rental hotspot map cannot answer. Considerations such as specific neighbourhoods that may hold a special appeal for your target tenants, and raise the potential rent you can secure, still need considering. You should also compare estimations of each area’s potential rental yield with its percentage of properties that are rented, and the HSBC’s recent survey of yields offers a tool for doing this for England and Wales at least.
What the map does, though, is give you a quick, easy to access starting point for identifying potential. Find out right now just how hot the area you are considering investing in actually is, because it’s never too late to change your property investment strategy.
Article Courtesy of: Direct Line For Business