Wales emerges as property hotspot

Posted: 01 May 2007 11:08:37 GMT


            Property News - Wales emerges as property hotspot

Wales has emerged as a boom region in the buy-to-let market, according to experts in the industry surveying trends in the market.

Wales has emerged as a boom region in the buy-to-let market, according to experts in the industry surveying trends in the market.

In news that may be of interest to those looking to expand their buy-to-let property portfolios, figures have emerged showing how the Welsh market is growing.

Paragon Mortgage's buy-to-let index indicates that rent yields in Wales are up 33 per cent in the last quarter and buy-to-let property prices have risen 18 per cent, reports easier.com.

This contrasts with the rest of the UK, where no other region has seen yields rise more than seven per cent.

Paragon's managing director John Heron said: "Investors have been enjoying steady rises in rental yields over the past few months, up from 6.3 per cent to 7.1 per cent in one quarter."

"With a positive economic backdrop underpinning growth in tenant demand, it is not surprising that Wales is the country’s top performer in terms of yield," he added.

One example of a growing property market is the city of Swansea, according to local estate agent John Francis.

Its managing director Terry Carr said there was "strong investor business" on the rapidly developing waterfront, with much of this being in the buy-to-let sector.


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