Leeds and Newcastle good spots for buy-to-let investment

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Landlords looking for new areas in which to invest should consider Leeds and Newcastle, an independent property advisory service has said.

BuyAssociation has said that the northern cities are good places for buy-to-let investors to purchase property because they both have a shortage of rental properties.

Paul Collins, property editor of BuyAssociation, also noted that Newcastle and Leeds have big working populations who want to live close to the city centres, which also offers great opportunities for buy-to-let investment.

He explained: "Obviously, cities are the main focus of buy-to-let investment because you have got the working population that want to live close by, but you need to make sure that you look at the actual make-up of the city itself.

"A city that has lots of building going on and has lots of apartments on the market isn't going to be the best place for a buy-to-let investment because when people have a lot of choice it drives prices down. You need to look at cities where there is a shortage of rental property - Leeds is a really good example of that."

Mr Collins went on to say that while a lot of building work has been going on in Leeds and Newcastle, demand for rental property is still high.

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