Which town outside London gives a 200% higher yield?
LendInvest have found buying two three bed houses in Durham for a total of £250,000 gives 200% higher rental yields with 30% less stamp duty costs compared to buying a single studio flat in South East London for the same price.
Christian Faes, chief executive and co-founder of LendInvest, said: “London rentals have long been seen as a market within a market, and the results of this study emphasise that fact.
“It’s no surprise that you can get as many as 10 similarly-sized properties in some cities for the same price as a single property in London. But it is surprising that those non-capital properties offer a far more impressive rental yield, and a smaller total stamp duty bill to boot.
“The current market is creating a huge opportunity for ‘cross-country landlords’ – professional landlords who live in one city, but rent out houses in other cities across the UK.
“Cities like Brighton and Southampton are becoming more popular with commuters thanks to the transport links into London, and developments like HS2 will prove an additional boost to areas in the Midlands and beyond.”