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Prices paid by northern landlords for their property investment acquisitions rose last month to reach respective averages of £95,228 and £131,892. Paragon Mortgages’ December buy-to-let index shows.
Property values in the North West have risen steadily since September, yet this is the first time since July that property values have risen in the North,
Property values also rose steadily in East Anglia over the last three months, to reach £148,704 in November.
Property values increased this month in the East Midlands to reach £135,640 and in the South East to £162,196.
Nationally, property values eased slightly from £156,879 to £154,568 this month.
Yields rise in four regions
Due to the increase in rental incomes, yields increased in the North to 7.0%. A fall in property values in the West Midlands helped yields to increase to 7.0% and in Yorkshire to 6.9%. Consequently, the Northern regions have reclaimed the top spots in terms of rental yield with the West Midlands generating the highest yields followed by the North and Yorkshire.
Following an increase last month yields remained stable in Greater London at 5.9%. Across the country average yield currently stands at 6.4%.
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Average rental
incomes
= £9,954 |
Average rental
yield
= 6.44% |
Average landlord
property value
= £154,568 |
|
Change over month
= -1.95% |
Change over month
= -0.03% |
Change over month
= -1.47% |
|
Change over year
= -3.71% |
Change over year
= -0.30 % |
Change over year
= 0.83% |
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