Indeed, with an average house price of £173,311 combined with an average rent price of £1,052 per month, the research by CIA Landlord places Salford as the number one investment hotspot.
It analysed the average house price, rental price and stamp duty savings across all UK cities to find the cheapest house prices matched with the highest rental yields to calculate the best buy-to-let cities under the government’s stamp duty holiday.
Salford’s nearest neighbour, Manchester, was shown to be the second-best investment hotspot, with house prices averaging at £193,681 and rental incomes at £1,141 per month. The top five was completed by Leeds, Portsmouth and Belfast.
By contrast, the worst city was found to be High Wycome in Buckinghamshire, with the average house costing £430,891 while the average renter pays £945 per month. Meanwhile, profitability was also found to be low in Cambridge, with average house prices at £447,423 against average monthly rental income of £1,080. Reading, Worcester and Watford completed the top five least profitable towns or cities.
In London, the study shows that the most profitable borough is Havering, with house prices averaging £395,832 and monthly rental prices reaching £1,895. By contrast, Kensington and Chelsea is the least profitable, with average house prices in excess of £2m against monthly rental income of £4,000.