Sunderland is the most profitable city for landlords, analysis from insurance agency CIA Landlords has found.
With monthly mortgage repayments averaging just £528.19, and rent in the city sitting around £1,200, landlords can expect to make around £671.81 in profit from their renters.
Luton is the least profitable city for landlords, with monthly mortgage repayments (£1,058.67) far outweighing what a landlord can make on rent (£766.67).
Bradford the cheapest city for renters
Affordable rent makes Blackpool the cheapest city for renters.
In Blackpool a one-bed apartment averages just £433.33 per month, surpassing Kingston upon Hull (£452.50) in second, and Bradford in third (£537.50).
Kingston upon Hull is also the cheapest city to buy a property, with average house prices as low as £137,038.
Norwich the most well-equipped city
Affordable rent, good schools, and plenty of job opportunities are just some of the factors making Norwich an attractive city in which to live.
Those living in the city enjoy high employment rates of 81.4%, and when asked how satisfied they were with their lives, residents gave an average score of 7.5 out of 10.
It’s relatively affordable to live in the city too, with monthly rental on a one-bed flat in the city centre costing £857.14 on average, while the cost of purchasing a property in Norwich is around £251,306.
Newcastle came in second, with 100 schools on offer, along with 6 hospitals, despite having a population of just 192,382 people. The city is also home to some of the happiest people in the UK, with residents rating their life satisfaction 7.69.
Southampton follows closely behind in third, offering residents 2.44 hospitals per every 100,000 people, as well as one of the cheapest public transport costs of all cities analysed, with prices averaging £55 per month. Job prospects in Southampton are also good, with a rate of 80.2% across the city.
Despite all that the capital city offers, including 115 hospitals and a huge 2,591 schools, the cost of renting and buying in London makes it less accessible to the wider population. Rent for a one-bed flat in the city is as high as £2,061.18 on average, and those looking to purchase a home in London are looking at costs around £538,116.
