Short term let properties in Liverpool and Manchester are achieving the best yields in the North West of England, according to new research by short term letting agency Portico Host.
Landlords with short-term lets in Fairfield, Liverpool can expect to achieve a rental yield of 27.2%. In comparison, long-term let landlords in the same area are achieving a yield of 13.6%.
Portico Host says that the short let yield is based on an occupancy rate of 50% of the year, which is typical for these types of properties due to seasonal demand.
Of the ten best performing locations for short term let yields, the top eight are in Liverpool postcodes (L6, L4 and L7). In Manchester, the highest short let yields can be found in Hulme (M15) at 15.1%.
Table: Best performing locations for short term let yields in Liverpool and Manchester
|Area||Short-let Yield (%)||Short-let Gross Income||Rental Yield (%)||Rental Gross Income||Avg. House Price|| Postcode|
|Anfield, Liverpool||22.7%||£23,766||9.6%||£10,457||£102,772||L6, L4|
|Orrell Park, Liverpool||17.5%||£13,779||7.5%||£6,360||£91,500||L9|
|Vauxhall, Liverpool||15.5%||£20,885||6.8%||£ 20,885||£ 139,061||L2, L3, L5|
|Hulme, Manchester||15.1%||£20,158||6.9%||£9,080||£133,333||M15, M16|
Rachel Dickman, Regional Manager, Portico Host, said: “It isn’t surprising to find that the properties that are achieving the greatest returns are those that are situated in areas surrounding Liverpool and Manchester city centres. These places typically have excellent transport links, proximity to popular tourist attractions, employment hubs, and good restaurants and cafes.
“Liverpool is becoming increasingly popular on the tourist trail, with 1.34 million people visiting the city in 2018, including business travellers, students and young professionals.
“It’s also continuing to host and attract major sporting events, such as the Netball World Cup 2019 which recently took place in the M&S Bank Arena. These factors are resulting in a growing number of people wanting to stay in short-let properties in Liverpool, and the increased demand for this type of accommodation is underpinning the rents that can be achieved.”