Covid-19 has been a rollercoaster ride for the property market. Eviction bans, the stamp duty holiday and social distancing rules have impacted both property prices & rental yields.

As tenants & property owners adapt to the new environment they operate in, as do the fees & services offered by estate/letting letting agents.

With any crisis there are winners and losers. At Rentround we’ve taken a look at which cities currently have the best rental yields and how those yields improved or worsened since lockdown lifted in June.

 

Rental yield league table

Sunderland maintained its position as the city with the best rental yields, unchanged from the Q2 lockdown.

The same can be said of Liverpool, which remains in 2nd place.

However both regions have experienced reductions in their average rental yields between when lockdown lifted to now. Sunderland’s rental yields have fallen by 0.37% while Liverpool has a slightly larger reduction of 0.4%.

Blackpool is the top 3’s new entry, up 2 positions from it’s 5th position when the lockdown was coming to an end in June, with a rental yield of 4.58%.

The top 10’s biggest riser is Swansea, in 6th place. Swansea has seen a rental yield increase of 0.55% since lockdown restrictions lifted, jumping 26 places in the overall list.

The biggest riser in the entire list of cities is Bath, jumping from 90th to 61st.

Unfortunately for Huddersfield, a 0.6% drop in average rental yields means a drop of 32 places into 54th position in the overall yield table.

“Overall across the English cities, the average rental yield only dropped by 0.07%, hardly major news. However within the cities, there have been significant swings.

The North East has remained strong and avoided any adverse impact to it’s yields, with Newcastle, Sunderland & Durham included in the top 13 positions.

For Swansea landlords it’s great news. The city saw great gains for rental yields which is reflected in the city’s standing in the yield table.

It’ll be interesting to see how in the coming months tiering systems and the end of eviction bans, furlough & the stamp duty holiday impacts the country.” – explained founder of Rentround Raj Dosanjh

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Sources: Rentround, PropertyData