Lockdowns, tenants migrating from cities to move back home and reductions in their incomes, working from home requirements, and a ban on evictions. It's fair to say that times have been more than a little challenging for landlords recently.
However, as we emerge from the other side, newly released data shows that the average rental yield in Great Britain has remained defiant at 4.2%., with no less than seven regions also home to an above-average, post-pandemic rental yield.
The research by nationwide buy-to-let specialist, Sequre Property Investment, has highlights which regions of the UK buy-to-let market have best weathered the rental market uncertainty posed by the pandemic and currently present the best yields for UK landlords.
According to the figures, the North West continues to top the table with the highest current rental yield at 5.4%, remaining the best region for a buy-to-let investment that Britain has to offer.
Scotland is also home to some of the highest yields at present and the only other region to breach the five per cent threshold (5.1%).
Yorkshire and the Humber (4.8%), the North East (4.8%) and Wales (4.7%) also rank within the top five best performing reasons, while the West Midlands (4.3%) and London (4.3%) also come in above the national average.
Daniel Jackson, Sales Director at Sequre Property Investment, commented: “The property industry has shown impressive resilience throughout the pandemic, but even the most optimistic of landlords were probably expecting profitability to take a dive during such uncertain times.
”Yet yields have refused to show any notable levels of decline and the buy-to-let sector remains a very strong investment option at present. The reason is that, even though house prices have gone up by an average of 10%, rent values have gone up by more still, 11%, to negate any negative hit on yields.
“One thing is for sure, Northern Britain remains the best, most rewarding place for buy-to-let landlords and investors to build their portfolios and not even a global pandemic can do anything to change that.