Northern UK seaside towns provide better yields
The Hull area has been named as the top seaside postal area for landlords in England and Wales in terms of offering the best average rental yields. Research shows that property investors who buy within the Hull postcode area can realise rental yields of up to 10.7% in seaside resorts like Withernsea.
According to the data from online property investment firm LendInvest the next best postal area for landlords is Blackpool. Landlords who invest in property in the town itself can achieve rental yields of 8.2%.Colwyn Bay North Wales is third with buyers seeing rental yields of 6.1%, followed by Barry in Cardiff at 6%, Caister on Sea near Norwich as 5.7% and then Egremont in Cumbria also at 5.7%.
Next comes Morecambe in Lancashire and Scarborough in Yorkshire, both with average yields of 5.5%, followed by Ramsgate in Kent and Portslade in Brighton both at 5.2%. Then comesRyde on the Isle of Wight at 5.1%, Clacton-on-Sea in Essex, Bournemouth and Chapel St Leonards all at 5%, and finally Plymouth at 4.9%.
‘When you think about investing in property in a seaside town, many will immediately think of places like Brighton and Eastbourne. But as our research makes clear, investing in the right Northern seaside towns could prove a lot more lucrative,’ said Christian Faes, chief executive officer of LendInvest.