Buy To Let
Southend, Luton and Bristol offer ‘best long-term returns’ for property investors
Southend’s house price growth came to 5.9%, equivalent to an average of £16,123.
This is an increase of two spots since last year’s ranking, according to Aldermore’s buy-to-let city tracker.
Luton took the second spot with 5.9% average annual increase in house prices in the last 10 years, one place down on last year.
Bristol came third with average house price growth over the past decade at 5.7%. It was previously second in the ranking in 2021.
Nottingham, Manchester and Leicester all jumped up the rankings, with Nottingham rising 12 places to fourth, Manchester leapfrogging 10 spots to fifth, and Leicester going up five places to sixth.
All reported an average annual change in house price over last decade of 5.6%.
Oxford, Brighton and London all fell out of the top 10 compared to last year.
Scotland and the North East on the slide
At the other end of the scale, Aberdeen came bottom for the second year in a row at 50th place, followed by Dundee at 49th.
Meanwhile, Sunderland (48th), Newcastle (47th) and Bradford (46th) made up the remaining areas in the bottom five.
Jon Cooper, head of mortgages at Aldermore, said: “Over the past year, the housing market has seen major shifts that have affected people across the board, whether you’re a landlord, renter or homeowner.
“When combined with cost of living pressures and rising energy prices, landlords are naturally being forced to re-evaluate their portfolios. We recommend that all landlords work closely with their brokers to identify where the best returns are for their investments in 2023.”