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The most profitable city for landlords letting homes out to students in England is Coventry, according to new research.
In Coventry, the rental yield is 6.03%, with landlords able to make an average of £1,780 from students in a typical four bedroom house.
Second on the list was Warwick, where investors are also currently able to get great returns from buying up properties near universities and letting them out to students.
The rental yield in Warwick is 4.78% and landlords can expect average returns of £1,924 per month from students in four bedroom properties.
The figures have been revealed by property website Zoopla, which looked at the percentage of their investment landlords could expect to see returned over the space of 12 months.
Coventry’s position at the top of the list is thought to have been influenced significantly by an increased demand for student accommodation in the city as a result of being home to two universities.
A spokesperson for Discount Insurance said: “Landlords are able to increase rents in city centres, particularly close to university campuses as students compete with one another to secure the most convenient living spaces.”
Coventry and Warwick are extremely profitable locations for private landlords because of a combination of high demand and relatively low house prices.
Top five most profitable English cities for student landlords:
1. Coventry – £1,780- 6.03% rental yield
2. Warwick – £1,924 – 4.78% rental yield
3. Chichester – £1,891 – 4.73% rental yield
4. Oxford – £2,148 – 4.61% rental yield
5. Bolton – £1,140 – 4.58% rental yield
Areas in northern England did not prove as profitable with renting to students in Middlesbrough meaning a yield of only 1.47% – less than a quarter as profitable as Coventry.
Investors in Lancaster would have a rental yield of 1.87%, while Lincoln offered a 2.14% yield.
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