Blackpool is second best for rent earnings
New research from online property investment firm LendInvest has named Blackpool as the second best seaside postal area to be a landlord in England and Wales.
In its latest LendInvest Buy-to-Let Index, the firm looked specifically at coastal towns to find which areas offered the top average rental yields to landlords.
Hull came out on top and property investors who buy within the Hull postcode area can enjoy rental yields of up to 10.7 per cent in seaside resorts like Withernsea.
The next best postal area for landlords was Blackpool.
Landlords who invest in property in the town itself can enjoy rental yields of 8.2 per cent, while tenants can make the most of being just a matter of minutes from the Pleasure Beach and donkey rides.
Llandudno in North Wales takes third spot with buyers in Colwyn Bay getting rental yields of 6.1 per cent.
Christian Faes, co-founder and CEO of LendInvest, said: “When you think about investing in property in a seaside town, many will immediately think of places like Brighton and Eastbourne. But investing in the right Northern seaside towns could prove a lot more lucrative.
“Seaside towns often enjoy strong demand from renters, whether that’s for year-long tenancies or for a couple of weeks in the holiday months.”