BTL investors return to towns and cities
- marcfaubeau
- Mar 21, 2022
- 1 min read
New research shows buy-to-let investors returned to city and town centre postcodes last year after avoiding them during the pandemic. There was a strong increase in mortgage completions for buy-to-let purchases in city and town centre postcodes during 2021, up 100% on 2020, according to analysis by Paragon Bank. The number of available rental properties on Rightmove more than doubled in 2020 in some city centres, forcing many landlords to slash rents to combat falling demand. But according to Paragon's analysis, towns and city centres are back in demand - although with a greater focus towards smaller, secondary towns and cities. The highest increase in buy-to-let activity was recorded in Milton Keynes, which experienced a 667% increase in buy-to-let mortgage completions in 2021 compared to the previous year. This was followed by Bristol and Manchester, which both experienced four times the number of mortgage completions in 2021 than in 2020, and Luton which saw a 258% rise. However, not all towns and cities have been attracting investors in 2021, according to Paragon. Buy-to-let mortgage completions in Birmingham fell by 42% in 2021. The same went for Southampton, which saw activity down by 30% year-on-year. In London, Paragon's figures showed a 95% increase in buy-to-let completions during 2021.
Daily Mail
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