From a buy-to-let investment perspective, there are a number of regions across the UK showing strong signs of rental growth such as the North West, which saw an increase of 0.83% in the average rental price between April and May.
This sits above the average increase of 0.73% across England and 0.32% in the Greater London area, making North West one of the most promising regions in which to invest when it comes to rental growth.
Furthermore, the North West’s two main cities, Liverpool and Manchester, have now established themselves among the best buy-to-let investment areas in the UK, offering some of the country’s strongest rental yields and property prices far below their London equivalents.
According to official Zoopla reports – published in January 2023 – rents have increased in Liverpool by 8.7% since 2020. During this period, Manchester has also seen significant growth with rental prices rising by some 13.8%, which is among the highest increases in the UK based on recent data.
In terms of future growth, JLL property experts predict that rental prices in Liverpool will increase by a further 10% between now and 2026, with Manchester rents set to rise by a further 11% in the same period.