Sheffield proving buy-to-let hotspot
LOW property prices, improvements to the city centre and high tenant demand due to soaring student retention rates have created the perfect conditions to make Sheffield a buy-to-let hotspot, according to one of the region’s lettings agents.
ELR has seen a sharp increase in the number of tenants looking for private accommodation. Year on year they have seen a 19 per cent increase. But the agents say the influx of potential tenants far exceeds the number of available properties to rent.
Nick Riddle says: “At the moment we have 17 properties to rent on the books, and more than 100 tenants looking and Sheffield’s renting population is set to grow.”