Landlords of short term let properties in Fairfield, Liverpool are achieving the best yields in the North West’s largest cities of Liverpool and Manchester, according to new research by short term letting agency, Portico Host.
Landlords letting out Fairfield properties on a short-let basis can expect to achieve a rental yield of close to 30% (27.2%), compared to landlords of longer-term rentals in the same area, who can achieve a yield of 13.6% (the highest available long-term rental yield in both Liverpool and Manchester put together). 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.
Fairfield is on the outskirts of Liverpool city centre and is a residential area which has become more popular and gentrified in recent years. A sizeable student population has attached itself to the area, attracted by the proximity of the city centre, the new shopping centre and an array of eateries that have recently popped up. Despite this, property prices remain much cheaper in Fairfield than they are in London; the average London property price is four times that of Liverpool, hence why landlords are able to achieve exceptional yields up north.
According to the research 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%.