Northern UK Catching Up With Property Rates
Written by JDPGlobal | Monday, 16 January 2006
The UK property Market has the buy to let option as the best that a investor can get out of it with the rates of returns on a rental property standing at a good 7.6 per cent. Despite a report that the average income of rent has decreased and is now is at about nine thousand nine hundred pounds, the north of the country seems to have the largest share of that trend.
A district in the North of the country, Burnley, has the good probabilities of high returns according to an established company in the field. The returns in the north stood at thirty one per cent for a property of worth 76,769 pounds sterling. The rental income though is not all that high at five thousand three and fifty nine pounds but the capital income is an inpressive eighteen thousand four hundred and fifty nine pounds. It’s the second best capital growth rate at present.
The development of the cities like Manchester and Liverpool give the rates another reason to rise again. Wales had a commendable performance ending up at 20.2 percent nationwide. HBOS reported that the areas to watch were Scotland, Renfrew, Airdrie and Wishaw. Scotland is also on that list.
The place to look out for in that side of the country is Aberdeen. It is the United Kingdoms now most attractive place to buy and let. One prominent property investment company said houses that have three bedrooms in them were being sold for seventy five thousand pounds and they had a rent rate of 10.4%. On one bedroom houses the rates were 8.4 % with the selling prices of the houses going up to 50000 pounds.
Aberdeen is the ideal location for studio flats, two bedroom and four bedroom homes. The South East has not found it all that easy to keep its rates up though. Surveys say that the West Midlands are still struggling with a negative appreciation rate making it the least interesting property all over the nation. Oxfordshire stands third in this list with a general mortgage payment of two thousand six hundred pounds.