Best buy-to-let locations are found in the North West
An AI powered property website that has ranked 172 buy-to-let locations by affordable property prices and high rental demand has found the top five are in the North West.
Salford tops the charts of Britain's towns and cities where houses are cheaper to buy, but rents are comparatively high, according to the study by property investment portal One and Only Pro.
Properties in Salford given the top score include a three-bedroom flat priced at £130,000 with a 12 per cent potential yield and expected rental income of up to £1,300 per month.
Burnley came second with 20 per cent of the properties showing the greatest investment potential, while Birkenhead and Bootle shared third place with 16 per cent.
Blackpool at 12 per cent took the last place in the top five.
These ‘satellite towns’ are now expected to increase in popularity due to their big city neighbours being overbought in comparison.
One and Only Pro only lists properties considered to be viable for investment, so shared ownership, retirement and other unsuitable property types are stripped out.
Henri Sant-Cassia, One and Only Pro’s CEO, said: “It is true that the North West is showing the greatest number of properties with investment potential but a ‘shrewd’ investor can find ‘diamonds’ almost anywhere in the UK.
“One and Only Pro has been designed to reveal those hidden gems so even inexperienced investors can find the best deals in a particular area.
“The top location in Wales for example was Swansea in position 28 out of 172 and Portsmouth comes in 32nd place claiming top spot for the South of England.
“There are also 2 per cent of properties on the market in London - in 60th position on the list - that will see an increase in value and represent a solid investment.”