Home About Blog Buy to let on the increase in the North East of England

With the approval of planning permission for the development of a new Gigafactory in Blyth by Britishvolt, closely followed by Nissan set to confirm a similar project in Sunderland, the Free Port in Tyneside and significant investment in renewable energy across the region, it is palpable to see the potential for the North East to become a pioneer within the renewable revolution. This paired with governmental departments being relocated to Darlington and a regional shortage of supply for rental properties creates a perfect storm for Buy to Let investors all across the region.

The government and multi-national companies are noticing the unlocked potential across the North East and landlords are being drawn to the area to capitalise on the existing and future demand for rental properties in the area. Data recently published by Land Registry shows that as of May 2021 the average house price in the UK as £254,624. Zoopla figures place the average property price across the North East at £206,175, well below the national average.  Not only can, potential Buy to Let investors benefit from some of the nation’s lowest housing prices, but also some of the highest average gross rental yields. Mortgagesolutions.co.uk show the North East currently with an eight per cent rental yield, ahead of Yorkshire and Humberside and the North West which currently sits at 6.9 per cent.

Graeme Bruce, Managing Director, explains why investment is on the increase.

“Shrewd property investors can appreciate the North Easts potential in terms of rental yields. Minimal outlay (compared to other areas of the country), added with the huge opportunity for further growth in house prices, recently bolstered by the Governments promotion of the area, will only continue to increase demand. Now is the time to invest in the North East”

------

If you’re looking to invest in North East buy to let market contact our team of property experts who will be happy to help you find your perfect property.