North East is the place for buy-to-let investors says Barratt
As mortgage interest rates remain low, more and more people are taking the view that putting their money into bricks and mortar could be a better long-term investment than leaving it in a bank account.
And the North East could be the right place to invest in residential property, according to recent figures from property website zoopla.
These show Newcastle and Middlesbrough among the top places in the UK for returns with average rental yields of 6.1 per cent and 6.3 per cent respectively.
Barratt Homes North East is reporting a significant increase in inquiries from buy-to-let investors at its developments around the region in recent months.
Fenton Hewitt, Sales Director at Barratt North East, said: “We haven’t seen this level of demand from investor buyers outside of London since the downturn of 2007. This is an opportunity for good income returns for investors buying the right properties in the right locations.
“Our new homes are not only great to live in, they make excellent buy-to-let investments too, offering landlords a low-hassle option.
“We offer a professional service to assist our investor buyers through all the elements of buying and letting, including finance, legals and rentals.
“We have strong relationships with letting agents who can help secure the best rental rates for your property and manage it for you.
“We can also introduce them to independent professional advisers, who can provide individually-tailored advice. We can even arrange furnishing packs which can maximise rental values at every level.”
Barratt has new homes available at developments across the North East at prices from under £90,000.
At The Leazes in Throckley, on the outskirts of Newcastle, a 1-bedroom “Emerald” apartment is ideal for investment priced at £74,995. It has a contemporary, open-plan living area, master bedroom with ample storage space, and shower room with double shower. It could achieve around £475 a month rent.
And at Mandale Park, Thornaby, a stylish 2-bedroom property is priced at £89,995. The “Amber” has an open-plan living room with dining area and fitted kitchen, plus a cloakroom on the ground floor, with bedrooms, bathroom and useful storage space on the first floor. It could achieve around £525 a month rent.
For further details, visit barratthomes.co.uk.