Half of All UK Buy-to-Let Hot Spots are in Scotland
Since April 2016 landlords have faced the challenges of a LBTT surcharge along with a restriction of tax relief on mortgage interest repayments. In addition, the depreciation of Sterling since the Brexit vote has also meant that additional costs with converting pounds back into local currency has discouraged overseas buyers from investing in UK property.
That said, a price drop in house prices in London and the South has encouraged buy-to-let investors back into the market with yield, rather than asset appreciation, being the main draw.
According to the lending platform Lendbay in association with The Telegraph, the top 10 best buy-to-let areas in the UK have been revealed and half of the top 10 UK buy-to-let hot spots are located here in Scotland.
The top 10 areas have been based on rental yield, rental price and capital value and landlords may now be encouraged to look towards Scotland where prices have more room to grow.
The top 10 buy-to-let areas in Scotland are:
West Lothian Rental Yield: 10.94%
North Lanarkshire Rental Yield: 10.65%
Midlothian Rental Yield: 10.08%
Glasgow Rental Yield: 9.8%
Edinburgh Rental Yield: 9.62%
East Ayrshire Rental Yield: 9.5%
Rest of the UK:
Newport Rental Yield 12.22%
Torfaen Rental Yield 11.87%
Caerphilly Rental Yield: 10.58pc
Leicester Rental Yield: 10.47%
At Clyde Property, our letting experience and expertise are the two elements that allow us to ensure you achieve optimum return on your letting property investment. With an award-wining service and over 30 years of leading industry experience, your property is safe in the hands of our pro-active, highly qualified team. Available whenever you need us, we give invaluable advice on all areas of letting such as increasing property value, legislative changes and the benefits of remedial and improvement works.