Young professionals 'want to rent in the city centre'

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Landlords considering adding to their portfolio with city-centre properties should pick investments which would appeal to young people, an industry expert has said.

Frances Jones, a spokesperson for City Residential, explained that the typical person looking to rent a property in the centre of a city is a young, single professional under 30.

In contrast, Mr Jones said that landlords should not try to find properties which might appeal to families, as they usually wanted to move out of the city.

"In terms of raising a family, by the time you actually get to the city where you want to raise a family you are in a position where you want to be buying rather than renting anyway," he added.

However, he concluded that landlords tended to find they could rent out city-centre property "quite easily".

Recently, Investment Property Databank revealed that inner-city property offer excellent yields for landlords looking to add to their portfolios.

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