New research has revealed that Salford is now in the top five university towns in England-ahead of Manchester, Leeds and London.
Data from the report from The Mistoria Group indicates that Salford is delivering an average rent of £750 per month, an annual yield of 6.8% and a typical house price of £131,863.
Top buy-to-let locations
Salford sits in 4th position in the latest results, behind Aston & Birmingham City, Teeside and Sunderland, which records annual yields of 10.6%.
According to The Mistoria Group, student landlords can enjoy returns of up to 7-10%, should they be savvy and purchase the correct property in the correct area.
Managing Director of The Mistoria Group, Mish Liyanage, noted: ‘Salford is a booming University City and is a great place to invest. It offers good rail and road links, located near the M602 and the M60, together with a great bus and tram service. With a wide variety of bars, restaurants together with good sport facilities, three great retail parks and wide open spaces of parkland, Salford has something for everyone.’[1]
‘If landlords are savvy and carefully select where they invest, they can enjoy excellent gross annual leads. Rental income especially for HMOs can vary dramatically in Salford, depending on which postcode you look at. For example, Eades Street (M6 6PG), Seaford Road (M6 6DD), Blandford (M6 6BE), Welford Road (M6 6BB) are some of the most expensive areas in Salford, netting on average ££110 per room, per month as these streets/roads are very close to the university. However, generally, students pay up to £85-105 per room, per month including bills for high quality student accommodation,’ he continued.[1]
Salford in top 5 student buy-to-let locations
Considerations
Continuing, Liyanage said: ‘We know that the most important considerations for students when choosing rental accommodation is space, location and price. Our research shows that the majority of students in Salford want to live in high quality, shared accommodation, with good internet access and affordable bills.’[1]
‘Student accommodation can offer a number of attractive features to investors. The yields are high, as students settle for less space than other tenants; occupancy is typically very good; and it is neatly counter-cyclical, as more people go to university during economic downturns.’[1]
[1] http://www.propertyreporter.co.uk/landlords/salford-makes-the-top-5-for-university-buy-to-let.html