Portsmouth is a buy-to-let hot spot

GOOD DEAL Portsmouth is a buy-to-let hot spot
GOOD DEAL Portsmouth is a buy-to-let hot spot
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PORTSMOUTH has been named as one of the country’s top buy-to-let hot spots for landlords looking to make returns on their investments.

The city has come 10th in a list of 50 locations compiled by the HSBC bank of the best places for investors to put their cash.

Average property prices in Portsmouth are around £141,971, and the average rent is £775 meaning the average rental yield is around 6.55 per cent.

The rental yield on a property is the annual return that an investor can expect to make on it.

With cheap property prices, northern towns and cities dominated the top of the list but Southampton took the top spot.

The other cities, in ranking order, are: Southampton, Blackpool, Hull, Manchester, Nottingham, Coventry, Slough, Oxford, and Liverpool.