Are you a landlord in Cardiff? Is so, you’ve made a great choice, as new findings from GoCompare have found that Cardiff is one of the top ten cities in the UK to be a landlord thanks to its high yield and average rental increases.
Coming in at a respectable sixth, Cardiff boasts an average property price of £200,363 and average rental yields were around 4.78%. As the majority of young people rent a property, Cardiff’s population of under 35s stands at 187,896 which means there’s always a significant number of young renters looking for properties. According to the figures, there are currently around 297 properties available to buy in Cardiff, with 550 new developments in the works. What’s more, 3512 properties were found to be currently available for rent, and landlords can enjoy 5% increases in their rental incomes.
Manchester topped the list of best UK cities to be landlord, boasting an average rental yield of 5.55%, while rental price growth came in at around 5.76%. Add this to the fact that the average cost of buying a property was just £173,381, and you can see why the city is extremely desirable for landlords.
London followed closely in second with rental yields of 3.05%, despite rental price growth falling 1.12%. Liverpool came third with rental yields of 5.05%, Nottingham fourth (4.46% rental yields and 3.39% rental price growth), Leicester fifth (3.94% rental yield and 5.30% rental price growth), Birmingham sixth (4.61% rental yield, and 4.29% rental price growth), Sunderland eighth (5.37% rental yield, and -0.18% rental price growth), Newcastle ninth (4.41% rental yield, and 4.19% rental price growth) and Glasgow completed the top ten (5.02% rental yield, and 2.19% rental price growth).
Belfast finished in 31st place and last because despite the average cost of buying a property being just £122,434, rental yields came in at just 3.77% and rental price growth was only 2.19%. The city also only has 12 properties currently available to rent, 123 properties to buy and 115 housing development in the pipeline. Oxford was also surprisingly low down on the list in 30th position because of high property prices (£411,108) and low average rental yields of just 3.61%.
Are you a landlord in Cardiff looking to expand your buy-to-let portfolio? Or are you a landlord looking to rent out your property? Whatever your circumstances and needs, we can help. As Cardiff’s largest letting and estate agent, we have the experience and knowhow to help you source tenants and achieve the best possible return on investment. Get in touch with our lettings team today on 02920 668585, email: firstname.lastname@example.org, or pop into our Woodville Road branch in the heart of Cathays.