Brighton remains the most profitable buy-to-let location in the UK for the second year running, according to CIA Landlords’ recent research published earlier this year.
Our seaside town beat major cities such as London to take the top spot with landlords reportedly making average monthly profits of £570.
The findings weighed rental fees against a comprehensive range of landlord costs including licence fees and maintenance.
The published list saw Brighton take the top spot, behind Bangor, Portsmouth and Leeds.
So why is Brighton – and neighbouring Hove – so popular?
Part of the appeal is obvious – a fashionable seaside location, quick and easy rail links to London, good schools, and large student population.
The pandemic has also played its part, with a mass exodus of people choosing to leave London and the UK’s big cities to seek out a better quality of life and opportunities to “work from home”.
As a result property prices are buoyant, with flats selling for an average £290,055 and terraced properties going for £492,415, according to latest figures published by Rightmove.
Overall, sale prices in Brighton were 9% up on the previous year and 12% up on the 2018 peak of £400,885.
Despite this “good news”, always remember that being a landlord can provide you with a lucrative income if planned correctly – but it’s not just about getting a tenant.
Many of us jump into it without really understanding what’s involved.
To find out more – and to get a realistic idea of market rents – please give me a call. I’m always more than happy to chat things through.
For more info about the CIA findings, please click on the link below:
The Cost of Being a Landlord in 2021 – CIA Landlord Insurance (cia-landlords.co.uk)