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New research has revealed the top ten cities for house share investments based on house share opportunities, rental cost, job opportunities, amenities and affordability.
The research, carried out by broadband and utilities provider Glide, identifies the best cities for buy to let investors who wish to maximise their income by letting properties out room by room as a house share.
Bristol narrowly came top by just one point. The city ranked fifth for the number of house shares available with 945, and whilst rents were third highest in the list, the city also boasts high University rankings, 229 jobs advertised per 10,000 people and high Wi Fi and broadband speed.
Nottingham showed consistency across the rankings, allowing the city to take second spot – with its job opportunities, broadband speeds and university rankings all scoring in the top ten, it was only let down by relatively high rental costs.
Birmingham took the third podium spot, with comparably low rents helping it to score well, but was let down by having only 145 job opportunities per 10,000 people currently advertised.
Top Ten House Share Hotspots
- Brighton and Hove
London was the best location for variety of house share opportunities, with over 19,000 rooms available, however with the average monthly rent six times higher than the most affordable city to live in (average rent in London is £3,278 pcm, compared to £499 in Bradford), the capital trailed in 17th place.
London was also top for university rankings, along with Edinburgh and Manchester, with the three cities all boasting institutions in the top ten of the UK University Rankings 2019. When looking at available job opportunities, York, Coventry and Derby were the top three ranked cities, with 470, 408 and 382 jobs available per 10,000 people.
Director at Glide, James Villarreal, said: ‘With so many students and young professionals choosing to house share, we wanted to find the best cities across the UK to suit their needs.
‘When looking for a new house share, there are some important considerations to think about before signing, including location compared to your university campus or workplace, transport links and monthly bills.’