Here at ReadyLet we have been investing in the North East of England for over 16 years for a variety of positive reasons. During this time we have built up a trusted network of professionals and just over the past few years alone we have sold over 200 properties to investors most of which are located and sourced in the North East typically around the County Durham area. Nowadays many property investors are moving their efforts away from London and Southern areas of the UK and focusing on the North. There are a couple of reasons and motives behind this which we will discuss below.
The London housing market was shaken up ever since the Brexit vote to leave the EU, a report from Your Move stated that London house prices fell up to 15% in some areas. This change has made people think twice before investing in London property and long-term investors in the area will be losing hope on the future of their investment properties. In general properties in the North East of England are much more affordable and there are extremely high chances of rising property prices in the future due to all the new developments in and around the area. The average house price in the North East is around £125,650 whereas in London it's a staggering £659,985 and because of the decline in prices mentioned above some houses in London have dropped by over £100,000 in value.
Rental yields are much higher in the North, at ReadyLet our properties offer our investors rental yields of between 9-13% whereas in London yields tend to be between 4-8% and that's if you can even find a good investment property in London. The London investment market is heavily saturated and more and more investors are now venturing out to look for a more sustainable area to invest in, such as the North East. As you may be aware, having a strong rental yield is crucial for having a profitable investment and with the decreasing house prices in London this is making London an even riskier area to invest in.
The North East has always been a great place to invest in property and with all the changes occurring in London this is causing more and more investors to focus their efforts elsewhere. We handpick properties that will offer our clients high rental yields and a safe return on their investment. If you are looking for a high yielding property in the North East then contact us today. We are a one-stop-shop for property investors and we manage the whole process for you. Call 01483 663001 for more information.