Oxford rated best for buy-to-let

Oxford is the best city in which to invest in buy-to-let, Aldermore’s Buy to Let City Tracker research has found.

This is based on the average total rent, the short-term returns through yield, long-term return through house price growth over the past 10 years, the lowest number of vacancies as a proportion of total housing stock, and percentage of the city population in the rental market.

Darren Meehan, director of Bright Money Independent Mortgage Brokers, said: “Oxford has always had a strong demand for rental properties, due to Oxford Brookes University, The University of Oxford and the many hospitals.

“The level of professional renters is attractive due to the low voids for owners, long tenancies that professionals take, and the properties tend to be well looked after.

“With the large volumes of new housing stock being built all over Oxfordshire, such as Didcot, there are a lot of new opportunities for investors.

“These new-builds outside the City Centre are more affordable to investors and they also target the commuters, so Oxfordshire really does have something for all budgets.”

The second best city was Manchester, followed by Edinburgh, London and Norwich.

Yorkshire cities like Bradford, Sheffield and Leeds all placed poorly.

London has the highest average total rent, Hull scored the best for short-term returns, while Cambridge was top rated based on long-term house price growth.

Cardiff has the lowest number of housing vacancies, while Oxford has the highest percentage of the population renting.