Leeds and Newcastle 'have good buy-to let potential'

31-Mar-2008

Leeds and Newcastle are two cities which offer good buy-to-let opportunities for investors looking to buy property in the UK, an expert has said.

BuyAssociation has said that investors should always look at the make up of the city itself before deciding on a final location for mortgage investment, and also advised against investing in cities already have a high proportion of building stock.

Commenting on the issue, Paul Collins, property editor of BuyAssocation, said: "A city that has lots of building going on and has lots of apartments on the market isn't going to be the best place for a buy-to-let investment, because when people have a lot of choice it drives prices down"

He added that investors would benefit from cities that have "a working population that want to live close by" and where there appears to be a minimal amount of rental property.

Newcastle has been "coming up very quickly recently", while demand in Leeds remains high, according to Mr Collins.

FirstRungNow.com - how to buy a house, from finding your first flat or first house, first time buyer mortgages, shared ownership, buying with friends, gifted deposit, part buy part rent - all a first time buyer could possibly need.

Mortgage approvals 'steady in Feb' Commuting 'may be an option for first-time buyers'

2008: Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan

2007: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan

2006: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan

2005: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar