Data from the landlord insurance provider has revealed that Birmingham, Bristol and Leicester are currently seeing the fastest growth in buy-to-let purchases.
The analysis of over 150,000 landlord insurance policies found investment in Birmingham increased 14.6% from 2020 to 2021, followed by Bristol with a 12.7% growth in investment and Leicester with an 11.8% increase.
London came 7th on the list for buy-to-let growth, mirrored by an exodus of renters during the pandemic and increased rents as a consequence of demand outstripping supply.
The analysis suggests that UK landlords believe that buy-to-let prosperity will be well spread across the UK’s regions in 2022.
Alan Thomas, UK CEO at Simply Business, comments: “The pandemic has contributed to a reshaping of the UK rental market. With rising house prices and an increase in average rent, there have been slower levels of growth in buy-to-let investment across the capital. Instead, many landlords are now looking to other areas – particularly those with a high student population – where they can attract a greater rental yield.
“Contributing over £16 billion annually, landlords are a vital part of our economy. What’s more, the 2.6 million landlords across the UK provide accommodation to over 4.4 million households, so it’s encouraging to see growth in buy-to-let investment across all corners of the UK. We can expect this to carry through 2022 as the country continues its recovery after Covid-19 and landlords look to make their next investment.”
