Our new Buy to Let City Tracker1 analyses 25 cities across the UK to understand the best places for landlords to invest in. Norwich ranks as the fifth best place for landlords as it provides a good short term yield for landlords. However a slower increase in house prices means that it is not as attractive for longer-term investment.
One of our brokers in Norwich, Jorden Abbs, sales director at CommercialTrust.co.uk, commented that Norwich offers landlords a full breadth of property investment options. Student lets serve the University of East Anglia and Norwich University of the Arts, city centre HMO’s target young professionals, standard buy to let covers a full spectrum from family homes to luxury apartments, and with so much in and around the city, holiday lets also enjoy year-round appeal.
Additionally, Norwich is a strong commercial and educational centre and it is an hour and a half from London on the train. The city is surrounded by countryside and the beach is also just 40 minutes’ drive away.
Commercial property investment offers similarly diverse opportunities to residential. Finance, business services, science, manufacturing, agriculture, energy, engineering, digital and IT are all thriving industries in and around Norwich. As a result, whether you are entering the buy to let market for the first time, or building upon an established portfolio, it is possible to find a property to fit.
1 Aldermore’s Buy to Let City Tracker was designed by Opinium and comprises of five core indicators: average rent per room per month, short-term yield for a new buy-to-let purchase, average property price rise over the last 10 years, proportion of vacant properties in the city and size of the private rental market. The index uses a series of secondary data sources including the ONS, Census and other official housing statistics. To read more visit https://www.aldermore.co.uk/about-us/newsroom/2019/12/oxford-tops-the-list-for-buy-to-let-investment-as-hidden-gems-revealed-across-the-uk/
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