Blackburn is named buy-to-let hotspot
Blackburn has been named a buy-to-let hotspot by LendInvest based on rapid increases in rental yields in the Lancashire town.
Properties in Blackburn achieve average yields of 5.69%, 37.8% higher than 4.13% recorded in 2015.
Christian Faes, co-founder and chief executive of LendInvest, said: “Savvy property investors won’t only look out for which areas will offer the best returns right now, but are considering the best growth for the months and years to come.
“That means spotting areas which will become more popular in the future.
“That may be due to improved transport links, for example those towns which are due to be on the new HS2 line, or those which are due to benefit from new infrastructure projects, which will bring additional employment into the region.”
Carlisle’s yields were the second fastest growing, having increased by 36.5% to 4.73%, while Gloucester’s rose by 19.4% to 4.07%.
In Cardiff yields stand at 5.05% after rising by 14% year-on-year.