Investing in property in the UK, particularly in the student buy-to-let sector, is particularly lucrative at present. Record numbers of students are studying in the UK, and demand is outstripping supply.
However, some student areas are more profitable than others. Here’s a useful guide, outlining some of the best places to look for buy-to-let property for sale.
The Best Student Buy-to-Let Areas
1. Leeds. Leeds University is performing well at present, and thanks to the relatively low living costs, it’s growing in popularity. There are currently around 65,000 students in the Leeds area in total; and as you might imagine, demand for accommodation is high, particularly within a mile of the campus. House prices are reasonable, and it’s possible to pick up a suitable HMO property for under £100,000, with the help of a property investment agent. Average student rent is £88.87 per week.
2. Sunderland. Sunderland is appealing to landlords, as it offers the chance to find a suitable buy-to-let property for sale, for as low as £65,000. Average suitable HMO properties are in the region of £150,000, but this is still considerably lower than the national average.
3. Leicester. Leicester also offers lower cost living to frugal students, which is an attractive prospect. The university has around 30,000 students, paying an average of £70.37 a week in rent. Expect to pay around £120,000 for a suitable buy-to-let property.
4. Dundee. Dundee University has a relatively small student population (12,000 approximately), but buy-to-let property for sale is reasonably priced, at around £128,000 on average. Dundee is particularly appealing to investors, as prices having been rising in recent months, which suggests it’s possible to achieve good capital growth. Average student rent is £77.49 per week.
5. Manchester. Manchester University is substantial, with around 50,000 students in total. It’s also one of the country’s most fashionable student locations at present, which means demand for accommodation is especially high. Students are happy to pay an average of £71.33 a week, and it’s possible to find a suitable property for as little as £130,000.
6. Newcastle. This vibrant city is popular, and has a current student population of around 42,000. The Quayside area has also been significantly regenerated recently, which has served to boost interest in the city. Students pay, on average, £85.05 a week, and average property prices are around £150,000.
How to Find the Best Buy-to-Let Property for Sale
To find the right house, it’s important to understand the student market, and which areas are ripe for investment. A property investment agent can help you to identify the right place and property, and attending property seminars is also a wise idea, if you want to get your knowledge up to speed.
Buying a house at auction is a great way to find a buy-to-let property at a cheaper price. Generally speaking, you can expect to pay 15% less than the market price.
The Buy2Let Shop
If you’re looking for advice, or want help with finding the right buy-to-let property for sale, talk to The Buy2Let Shop team. We’re experts when it comes to investing in property in the UK, and we also offer assistance with property auctions.
To find out more about our range of services, simply visit The Buy2Let Shop website today.