0:06 AM, 25th January 2023, About 2 days ago 1
Landlord insurance provider Simply Business has researched the buy-to-let areas that are most popular with landlords.
It says that London is still the best city for buy-to-let landlords for the second year running.
The firm says that more than 39,000 BTL insurance policies have been taken out in the capital.
Birmingham and Manchester continue to be popular with landlords for the second year in the row taking the second and third place spots in both 2021 and 2022.
The city of Bristol has increased its appeal over the past year, moving it up the rankings from sixth in 2021 to fourth in 2022, replacing Glasgow, where buy-to-let policies have declined over the past two years.
Nottingham, Edinburgh, Liverpool, Leeds and Leicester are other locations that were discovered to be in high demand by landlords; all of these cities also made the top 10 list in 2021.
Alan Thomas, the chief executive at Simply Business said: “The private rental sector houses over 17% of British households, with landlords taking on capital risk to provide the product of housing to those who otherwise might not be able to afford it.”
He added: “Though London remains unrivalled for its demand for buy-to-let properties, we are seeing northern cities including Liverpool and Leeds come into the top 10.
“It is wholly encouraging that our data shows that landlords view a broad spread of regions as attractive areas to invest this year.”
A recent report by Simply Business also found that almost half (45%) of landlords still think that letting property is still a worthwhile investment, and one in five (23%) landlords are planning to buy another property in 2023.
Top 10 cities for buy-to-let properties in 2022 according to policy data from Simply Business: