Rents surge in Northern Ireland and Wales

27 May 2020 | General

Rents in Northern Ireland and Wales have surged in the past year, HomeLet research has found.

In Northern Ireland rents have increased by 7.7% annually, followed by Wales (4.7%), Greater London 3.7%) and the North West (3.7%).

According to Mish Liyanage, managing director of The Mistoria Group, there is growing demand for high-end HMO accommodation among young professionals and students across Salford, Bolton, Manchester and Liverpool areas.

Liyanage said: “Buy-to-let investors can buy a luxury HMOs in the North West from £120,000 upwards.

“The return on investment is very attractive too, with an average 13% yield (8% cash rental and 5% capital growth)”

This post has originally been featured in Property Wire.