Bristol named as the best city for Landlords to invest in for 2024.
Tue 27 Feb 2024
Ready to expand your buy to let portfolio and want to make sure you get the best return on your investment possible?
We’ve done some of the legwork for you, with the new Aldermore Buy to Let City Tracker* – and discovered that Bristol is the place to be. Here is what the report found;
Aldermore's annual tracker looks to explore which cities in the UK are best for landlords like you looking to acquire new property. The tracker looks at five key indicators that impact buy to let desirability:
- Average total rent
- The best short-term returns through yield
- Long-term return through house price growth over the past decade
- The lowest number of vacancies as a proportion of total housing stock, and
- The percentage of the city population in the rental market
Why Buy in Bristol?
Bristol has jumped to the top of the leaderboard this year due to a number of factors working in its favour:
- Good rental prospects
- High proportion of long-term private renters available
- Low number of properties currently vacant.
You’ll also find a good growth on returns in Bristol, with an annual increase of 6.6%. However, if you’re looking to make a fast investment, perhaps this isn’t quite the city for you, with short-term yields sitting at 4.4%.
Average rent has increased
The City Index Tracker shows the average rent per room has steadily increased, in 2021 the average room for rent was £423, while in 2022 it was £432 and this year increased to £455. Research by Aldermore2 found that nine out of 10 landlords (94%) increased the rent they charge in the last 12 months. With the current position of the rental market, the research also revealed just under three quarters (73%) of landlords have seen an increase in tenant demand for their properties in the last year.
Aldermore’s Buy to Let City Tracker Top 10 cities:
|
Ranking |
2023 |
+/-change |
2022 ranking |
2021 ranking |
|
1 |
Bristol |
+2 |
Manchester |
Bristol |
|
2 |
Manchester |
-1 |
London |
Oxford |
|
3 |
Coventry |
+7 |
Bristol |
Cambridge |
|
4 |
Brighton |
+10 |
Cambridge |
Manchester |
|
5 |
London |
-3 |
Peterborough |
Luton |
|
6 |
Cambridge |
-2 |
Milton Keynes |
London |
|
7 |
Portsmouth |
+16 |
Luton |
Northampton |
|
8 |
Glasgow |
+9 |
Reading |
Brighton |
|
9 |
Basildon |
+3 |
Southend |
Reading |
|
10 |
Milton Keynes |
-4 |
Coventry |
Norwich |
Whether you're a newbie investor venturing into Bristol's buy-to-let scene or an experienced landlord seeking to grow your portfolio, we're here to offer you tailored guidance at an Award Winning Level.
Here at Blue Sky Property, Bristol, Longwell Green we pride ourselves on delivering the top quality service you derserve from your Estate and Letting Agent.
Let with confidence! But you don't just have to take our word for it.
We proudly took home an impressive six awards at the ETSTAS 2023 Awards in London, including:
- Gold Landlords Regional Award, South West (Bristol, Somerset)
- Gold Tenants Regional Award, South West (Bristol, Somerset)
- Best in Postcode BS30 Lettings (Landlords)
- Best in Postcode Lettings (Tenants)
- Gold Sales Regional Award, South West (Bristol, Somerset)
- Best in Postcode BS30 Sales
All of these accolades are thanks to our amazing customers! When it comes to renting your property, why not experience the Blue Sky Property difference for yourself today? Do give us a call on 0117 932 8165.
Blue Sky Property, Bristol, Longwell Green, Estate & Letting Agents.
Aldermore’s Buy-to-Let City Tracker was designed by Opinium and carried out across 500 landlords between 4-9th November 2023. It comprises of five core indicators: average rent per room per month, short-term yield for a new buy-to-let purchase, average property price rise over the last 10 years, proportion of vacant properties in the city and size of the private rental market. The index uses a series of secondary data sources including the ONS, Census and other official housing statistics.
Photo Martyna Bober