Where to buy your next rental property?

Best Locations for Rental Properties

The number of enquiries each rental property receives is currently around 17, more than double the number of enquiries from 2019.

As a buy to let investor, you might be thinking, your rental property must be close to a station or a city, however we are now seeing people searching further afield to find their next rental.

Demand remains high, with a large shortage of rental properties to keep up with the number of tenants looking to move. With many tenants struggling to find a home in their desired area, as well as rising rents, tenants are now having to look further out, away from cities and built-up areas.

Which gives landlords more freedom to buy outside of busy areas, potentially at lower purchase prices in less ‘desirable’ areas, with still a high rental return.

In London, more than a third of renters are looking to move outside of the capital, which is up from the levels we saw in 2021, as well as Leeds, 52% of renters are looking to move outside of the city.

120,000 more rental properties are needed to bring rental price growth back towards the normal pre-pandemic levels, based on current demand.

The time to buy your buy-to-let is now, and based off of these statistics, it should encourage landlords to buy in further out locations boosting the rental market!