New data has revealed that the North East of England is fast becoming the ‘buy-to-let capital of Britain’ as a result of the promise of low property prices and high rental yields.
According to the Telegraph, property sales in the North East are up by 7%, compared to a fall of 7.5% nationally and, in the year to date, over a quarter (26%) of all purchases in the North East were made by buy-to-let investors. Rental yields in the region have much to do with the increase, with the average yield in the North East topping 8%, way above the average in London and the South East of around 5.5%.
According to the new data, multiple occupancy and house-share transactions – a by-product of the region’s thriving student population – are taking place off-market due to the sheer level of investment demand.
So, for would-be property investors looking to purchase their first buy-to-let (BTL) property, or for anyone expanding their portfolio, the North East would be a good place to start. And to ensure a smooth and stress-free transaction, it would be wise to get legal advice from an experienced firm with a specialist landlord team.
Sweeney Miller Law has a dedicated BTL team and is instructed by established landlords with an extensive portfolio, through to those interested in investing in property for the first time and becoming prospective landlords in the North East and nationally.
Managing Partner, Surbhi Vedhara commented on the recently published data:
“It is very encouraging to see data backing up what we already know, that the North East is a great place to invest and build a property portfolio. That said, investing in property isn’t for the faint hearted, it is important to get expert advice from those experienced in the industry from the outset.”
At Sweeney Miller Law, we have a dedicated Landlord team that can advise new and experienced buy-to-let investors on all aspects of the BTL conveyancing process; whether they are a local investor looking to build a small pension pot, or an investor based in the South East or London hoping to capitalise on the impressive rental yields.
The firm, alongside other prominent regional businesses, are part of the North East Landlords group, offering regular events and updates to landlords in the area to make sure they are supported and connected with the right advice from industry experts.
From our head office in Gosforth, our expert Landlord and Tenant litigation team also has a raft of expertise and experience in advising landlords on any contentious issues that may arise after the purchase has gone through and the tenants are in.
If you have been bitten by the buy-to-let bug, and want to capitalise on the potential yields available in the North East, but want to make sure you have the right legal advice from offer, to completion, and beyond, get in touch to speak to a member of our team today by calling 0345 900 5401 or email email@example.com.