Plymouth jumps up the buy-to-let hotspot list
Tue 28 Jul 2015
Research carried out by Barclays bank has seen Plymouth make one of the biggest jumps in buy-to-let properties purchased, shooting up from 212th in the Barclays ranking last year, to 16th in 2015. Its growing economy and £90 million investment pledge from the Government may be the reason behind the growing surge in the rental market, as more businesses move to the South West.
London, Birmingham and Bristol are the top cities where Barclays customers are investing in rental properties according to research by the bank. They found a significant increase in Birmingham, which may be attributed to the planned HS2 train line to London which is set to begin in 2017. Greater London areas such as Slough, continue to perform well, as do popular university towns such as Bristol, Nottingham and Manchester.
Despite the forthcoming cut to buy-to-let tax relief, only one in 10 landlords are planning to sell their buy to let property and less than a quarter would consider the idea.
Andy Gray, Barclays Managing Director of Mortgages said 'Whilst London still leads the way in buy-to-let, araes such as Plymouth and Peterborough show there are some great value hot spots outside the capital city that are worth investment as the economy grows'
January 2015View older stories >
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