Residential lettings provider SevenLiving, the property management platform by SevenCapital Group, delves into the top five UK rental hotspots for landlords in 2023:
1. Birmingham
Average property price: £278,496
Average rental price: £1,679 pcm
Average rental yield: 7.23%
As the UK’s largest second city with an estimated 1.1 million residents, the population of Birmingham is set to rise to 1.24 million in 2023.
2. Leeds
Average property price: £257,819
Average rental price: £1,623 pcm
Average rental yield: 7.55%
The third largest city in the UK with an estimated population of 757,000, Leeds’ booming economy as a leader in the banking and professional services industry offers many high earning jobs for local residents and commuters alike.
3. Slough
Average property price: £438,305
Average rental price: £1,946 pcm
Average rental yield: 5.32%
The launch of the Elizabeth Line just 12 months ago put this Berkshire town solidly on the map. An established London commuter town, Slough offers affordable rental properties compared to the Capital – now under 15 minutes away by train.
4. Nottingham
Average property price: £256,318
Average rental price: £1,260 pcm
Average rental yield: 5.89%
With a population of over 323,700 and 77% of the UK’s population living within one hour of Nottingham with nearby access to the M1 and A1, the city has earned its reputation as one of the most accessible cities in the country.
5. Bracknell
Average property price: £423,901
Average rental price: £2,926 pcm
Average rental yield: 8.28%
With a booming population which is anticipated to reach 141,000 by 2039, Bracknell’s growing popularity can largely be attributed to its fast commutability to London and its ongoing £770 million town centre regeneration scheme which continues to attract residents and visitors alike.