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Blackburn sees highest annual rental yield growth

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Blackburn was the best area for rental yield growth in England and Wales in the year to July 2016, while parts of the capital experienced a cooling off in prices, according to the latest Buy to Let Index from LendInvest.

The lender found that the Lancashire city saw the greatest growth in rental yields, up 4.13 per cent to 5.69 per cent in the year to July, representing an increase of 37.8 per cent. House prices in Blackburn average out at £95,000.

Carlisle was the next on the list for rental growth, up 36.5 per cent annually, followed by Gloucester where yields were up 19.4 per cent.

On the other end of the scale, Durham topped the list for yield decreases, with a drop of 34.2 per cent. Parts of the capital also made the top 10 for declines in rental yields; with prices in North West London, where house prices average £500,000, down 18.7 per cent.

LendInvest co-founder Christian Faes says: “Savvy property investors won’t only look out for which areas will offer the best returns right now, but are considering the best growth for the months and years to come. That means spotting areas which will become more popular in the future.

“That may be due to improved transport links, for example those towns which are due to be on the new HS2 line, or those which are due to benefit from new infrastructure projects, which will bring additional employment into the region.”

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