Grimsby hailed a buy-to-let hotspot for landlords
By Grimsby Telegraph | Posted: 9 Apr 2019
Grimsby has been identified as a diamond buy-to-let hotspot for landlords in 2019.
Investment portal One & Only Pro has ranked the best buy-to-let locations in the UK, which could increase a landlord’s average eight per cent yield to well in excess of 20 per cent.
And Grimsby has been listed in joint second place with Darlington for "diamond hotspots with low average entry level prices", at an average of £56,000.
The highest ranking was Bootle with £53,000, and after Grimsby and Darlington came Sunderland with £63,000.
Chief executive of One & Only Pro Henri Sant-Cassia said: "It's shocking that people think buy-to-let is dead or is no longer a good investment, as the real data shows something completely different.
"One & Only Pro can highlight the highest returning properties in the best buy-to-let hotspots in seconds."
Grimsby ranks joint-second with Darlington for diamond hotspots with low average entry level prices
The investment portal categories investment deals as "diamond" if they receive a score of 10 on the platform.
The top score out of 10 means that the investment opportunity has the highest possible chance of increasing in value.
The scores are calculated by One & Only Pro's algorithm, which considers a range of key factors, data and metrics.
When it comes to returns, the top performing area was Liverpool, with an average return on cash investment of 78.2 per cent for one of the top 10 diamond properties in the Merseyside city.
The return on cash investment is based on buying a property with the best mortgage deal.
Other standout performers for One & Only Pro's average return on cash investment on diamond properties in the top 10 buy-to-let hotspots include Sunderland with 68 per cent, Washington with 62 per cent and Burnley with 61 per cent.
All of the top 10 register an average return on cash investment of more than 35 per cent for their top 10 diamond properties.
Mr Sant-Cassia added: "While some people have been delaying decisions due to Brexit, the shrewdest investors could already have earned enough income to purchase their next property.
"Where else could you invest and earn returns like this?
"What’s more, you have the backing of bricks and mortar, which will always have some kind of intrinsic value.
"As we know, stock investments could always get wiped out and be worth nothing."