2020ís London Property Investment Hotspots Revealed
Landlords looking for buy to let investment opportunities in London in 2020 should look towards the east of the city for success, research has revealed.
The findings from Portico highlight that six of the best performing boroughs are found in east London, including Barking and Dagenham, Newham and Tower Hamlets.
The survey also reveals that Redbridge, Havering and Ilford are offering opportunities.
The firm says that the region has seen huge sums invested for regeneration to boost the area for homebuyers, tenants and investors alike.
They say that with the population there expected to grow, rental demand and house prices will also rise.
Where landlords can find an investment property
Of those areas, the most affordable average house price is in Barking and Dagenham where landlords can find an investment property for £318,527.
The average rental yield will be 5.4% and with strong transport links tenant demand is high.
For investors wanting the best rent yield, then Ilford is worth a close look with yields of 5.5% and property prices being an average of £421,226.
Portico's director, Vatche Cherchian, said: "While London house prices have remained flat relatively in the last two years, wage growth has not.
"We have seen a year-on-year 4% growth in wages and when you tally that against Londonís flatlining house prices then, in real terms, it is around 10% cheaper to buy a property in the city."
Best location for pet loving tenants revealed
Meanwhile, the best location for pet loving tenants in the UK for renting a property has been revealed.
The findings from the housing platform Howsy, highlight that Blackpool is the number one destination after looking at the amount of green space available so tenants can rent a home with a garden at a low cost.
With just 7% of rental homes accepting pets currently, a potential change by the government to tenancy agreements could see the right for landlords to refuse a pet being removed.
Blackpool takes top spot for offering the most affordable rent at £527 but with nearly 23% of land there being domestic gardens means tenants can secure a garden more easily.
A spokesman for Howsy said: "It is great the government is looking to improve the sector for tenants who have pets and to have options for living. The agreement needs to work for both tenants and landlords and it must safeguard the landlord's property and the tenant's right to rent."