Norwich named one of best buy-to-let hotspots by Daily Mail

Norwich has been named among the best places for landlords to buy property <i>(Image: Pat Foan/iwitness)</i>
Norwich has been named among the best places for landlords to buy property (Image: Pat Foan/iwitness)
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Norwich has been named as one of the best places for buy-to-let landlords.

The Daily Mail earmarked the city for those looking to make a profit by renting out their property.

In the list of 50 towns and cities across the UK, Norwich ranked 15th out of 50.

The money experts at the publication found the average house price to be £228,606 with an average yield of 7.7pc.

Rankings were dictated by five factors - average rent per room per month, short-term yield, average annual property price increases over the past decade, the proportion of homes that are vacant and the size of the private rental market.

Top of the list was Manchester, while Ipswich did not even make it on to the rankings.

Jason Harris-Cohen, a portfolio landlord who runs house-buying firm Open Property Group, said: "Northern and Midlands cities are leading the rankings with their strong local economies.

"It reinforces the ongoing shift towards more affordable, yield-driven markets."

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