Buying a property to rent out is a great way to earn some extra income, but choosing where to invest can have a big impact on your average earnings.
CIA Landlord has revealed its annual ranking of the best UK cities to buy to let for 2021, with some areas proving to be more profitable than others. The analysis is based on the average property price, mortgage cost, average rent income, and the monthly costs of being a landlord to calculate the monthly profit. Listed are the 10 cities with the highest monthly earnings for landlords.
Average property price: £410,541. Average rent: £2,044. Monthly mortgage cost: £1,411. Monthly profit: £571.85. Photo: Shutterstock
Average property price: £185,833. Average rent: £1,193. Monthly mortgage cost: £639. Monthly profit: £500.53. Photo: Shutterstock
Average property price: £243,945.. Average rent: £1,379. Monthly mortgage cost: £838. Monthly profit: £479.27. Photo: Shutterstock
Average property price: £228,424. Average rent: £1,323. Monthly mortgage cost: £785. Monthly profit: £477.60. Photo: Shutterstock