The North Rules Buy-to-Let Investments
Well here’s something we already knew. Property investment in the North of the British Isles is booming and once again, dominating the south in terms of gross yield and returns. And you can guess which city came out top? Manchester! Hurrah! But we knew this two years ago when we first introduced the world’s first crowd funding property investment scheme.
The average gross yields for buy-to-let properties are 4.2%; however, it looks as if the south of the country has been failing to meet this.
Of course, the steady increase in house prices over the last year has helped to boost the returns on property investment. According to the Land Registry, the average home in the North side of the UK costs around £175, 653, which is 7.2% higher from July 2013. This is compared to the average prices in London which could cost around £457, 072 to buy, an increase of 12%.
Renting costs have increased by 2.4% in August to £761 per month in the North and 3.5% in the south. So you can see why the North dominates the south in terms of property investment.
And the good news is The House Crowd is no average investment by carefully selecting the areas we work in and the properties we buy we produce much better returns than the average.
Take our latest edition to the property investment family for example. Project 079 has a fixed return of 7.5% a year, paid on a quarterly basis. Or HCP81, coming later this week, that will produce a gross rental yield of over 11%.
The House Crowd has sourced a bulk purchase of 10 properties in an off market deal in Middleton at an estimated 20% below market value. Click here to register.