Nottingham has been dubbed the best location for student investment property in the latest analysis on the topic.
Now A-level results have been counted and released, online estate agent Emoov has conducted a survey with the aim of uncovering the best student city within which to be a landlord. For many parents, investing in property offers a useful way to pay towards their children’s experience by offering accommodation, whilst also having something concrete to show for it at the end. Nottingham offers an excellent choice for parents with such plans. The average house price in the city is just £133,215 whilst the average tent is £950 a month. This therefore provides sizeable yields of just under 8.6 per cent.
Coming in second place is Leeds, which offers yields on student investment properties of 7.8 per cent. Queens in Belfast follows in third place, with yields of 7.5 per cent.
For those who want minimal initial cost, Durham offers cheap house prices at an average of a mere £102,347. However, this may not be such an easy choice for students as the prestigious university requires 527 UCAS points for entry, dwarfing Nottingham’s 425.
In Dundee, prices also remain low, with the average house costing £119,155. Again, Queens is also a solid option, offering homes for just £120,351.
Chief executive of Emoov, Russell Quirk, commented on the findings: ‘Despite the buy to let market receiving a bit of a kicking over the last year, it still remains a very lucrative business and one that is only marginally soured by the additional three per cent in stamp duty tax. The presence of a top university nearby is one way of ensuring a consistent stream of income to sweeten the recent changes in buy to let dis-incentivisation. What’s more, the UK has an abundance of top universities spread far and wide and so it provides a whole host of more affordable options for getting on the buy to let ladder, other than the usual go to option of an over inflated London market.’