If you are a landlord considering buying a property to rent out in a seaside town then you may be interested in some research carried out by LendInvest into the average rental yields obtained on such properties. The company has used data from Zoopla, Land Registry and Savills to obtain the information.
Of course, many people would love to live by the seaside. In particular, people who are retiring who want a complete change in their lifestyle.
Having decided to retire, some will sell their existing family homes and buy such properties on the coast. However, there are also no doubt a number of people who have never owned a home but have rented instead who would also like to move to a coastal town.
A number of people that own their own homes will look to purchase a second home by the sea that they intend to occupy once they retire many years into the future. In the meantime, they may decide to rent out the property to provide an additional income.
So, which towns in the UK provide a landlord with some of the best average rental yields on investment properties: –
- Withernsea, a seaside resort not many miles from Hull, is in top spot with an average rental yield of 10.7%.
- Blackpool, a popular holiday resort, is in second place producing a rental yield of 8.2%.
- Colwyn Bay in Wales provides an average rental yield of 6.1%.
- Barry that is also in Wales provides a rental yield of 6%.
- Caister-on-Sea that is close to Great Yarmouth on the Norfolk coast produces an average rental yield of 5.7%.
So, if you are a landlord or considering becoming one, we hope that you have found the above information of benefit. Details of average rental yields on properties in many other seaside towns can be found on the website of LendInvest.