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Report names buy-to-let hotspots

Thursday, 11 May 2006 12:00 AM

Peterborough, Rugby and Chelmsford are among the towns set to be named as buy-to-let hotspots in a new report.

Swansea, Colchester and Bristol are also highlighted in a preview of a report by UCB Home Loans to be published later this month.

Belfast's position as a buy-to-let hotspot across the water in Northern Ireland is also confirmed.

The report by the Nationwide subsidiary will provide a detailed commentary on more than 60 towns and cities in the UK.

It picks out Swansea as the next big focus for buy-to-let activity in south Wales due to the regeneration of the docks.

In Essex, it highlights Colchester and Chelmsford as buy-to-let hotspots because reasonable house prices and good connections with London are boosting sales of buy-to-let property.

The expansion of the rental market in Rugby is boosting investment in property, while in Bristol demand is also good and confidence among prospective buy-to-let landlords is high.

The growth of Belfast's property market has been well documented and the increase in overseas workers continues to stimulate the hotspots of Dungannon, Cookstown and Craigavon.

Peterborough, on the other hand, is a new name on the buy-to-let map, with the northern parts of the city, particularly Bretton, seeing high demand from property investors.

Keith Astill, managing director of UCB Home Loans, said buy-to-let investment activity had been particularly strong during recent months.

"Activity in the first few months of this year has seen renewed interest in parts of central London, an area which had previously been relatively quiet due to the high level of house prices.

"In some respects this is due to the fact that other areas of the country have now caught up with the price rises shown in the south of the country a few years ago, and we now have a more even picture across the UK when landlords are looking for areas in which to invest."

The report also highlights the major buy-to-let hotspots within the UK's major cities, such as east London, Kings Heath in Birmingham and the outskirts of Leeds.

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