Astronomical property prices are a major gripe in London, but now comes evidence that people really a...
Property developer Crosby Homes and property consultant Knight Frank have jointly produced a survey of the UK buy-to-let market and found that returns last year easily outperformed the stock market.
Top returning city was Bristol, where a typical two-bedroom flat would have returned a net yield of more than 24%.
Birmingham produced a net yield of more than 19%, Manchester more than 18% and Leeds more than 17%.
By comparison, the same type of property in London would have produced a net yield of 13.5%.
The Crosby Homes/ Knight Frank survey blames over-inflated property prices in London coupled with a market more closely linked to the performance of the stock market for the poorer performance.
More companies are also choosing to relocate to cheaper offices in regional hubs, and executives are moving to rent rather than buy to retain more "employment mobility".
There is also a move towards more city-centre living in flats rather than houses, as younger professionals want to be closer to ameneties and are not burdened by children - people are increasingly marrying later.
That leaves a gap between regional inner-city property prices and the rents peple are prepared to pay for the ease of moving in at relatively short notice.
In Manchester, for example, there are just 5,000 city-centre properties of the type surveyed in an employment catchment area of more than 4 million.
The survey shows figures comparing the performance of £100,000 invested in the stock market since 1996 against the same sum invested in regional city-centre property.
The sum would have returned a bit more than £138,000 invested in the FTSE All Share, but would have made more than £252,000 invested in property.
£92bn transferred since 2015
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