Looking to buy York properties for sale to let out to students? With an average yield of 6.1%, England’s most famous cathedral city is one of the best places to buy student property right now. Over the coming weeks, we’ll be taking a look at other cities, including Nottingham and Coventry.
Last year, over 15,000 attended the city’s well-respected university. York properties for sale also benefit from excellent transport links to London and Edinburgh. York University is currently expanding, which means further demand for student accommodation in the near future.
Key Areas and Rental Yields
Choose your area carefully when considering which York properties will best suit students. Whilst you don’t necessarily need to be on top of the main campus, being within easy striking distance (15 mins walk, 30-minute bus journey) is a must if you want your York student accommodation to stay full year on year.
Holgate is a popular area. Here, you’ll find four bedroom red brick terraces with bay fronted windows. Individual rooms are let out for an average of £70 per week (bills not included).
Badger Hill is another well-established and popular area for University of York students. It’s a great place to start your search if you’re looking for five or six bedroom properties for sale in York. Individual rooms can be let out for up to £80 per week.
Heworth is good if you’re looking for smaller properties for sale in York. There are one and two bedroom flats in this part of town. A one bedroom flat can be rented out for around £475 per month. If you buy a modern two bedroom flat for £140,000 you can expect to rent it out for £550 per month.
Off Heslington Road you’ll find cheaper houses for sale in York, ranging from three bedroom to eight bedroom stone fronted terraces. Try Wellington Street and Green Dykes Lane for starters. You’re looking at generating around £80 per week per room in a shared house in this part of York.
Other areas to consider include: Fulford, South Bank and Tang Hall.
Pros
Assured rental returns, high demand and low supply all make investing in student properties for sale in York a smart move.
York has plenty of four, five and six bedroom houses, all of which are ideal for landlords looking for maximum rental returns.
Cons
Demand may look set to outstrip supply for student accommodation, but there are things to be aware of before you jump in. For starters, agency fees will swallow up around 15% of your monthly rental yields. However, unless you want to undertake the time consuming business of managing a student house, a good agency is worth its weight in gold.
You will also need to keep up with the latest landlord regulations and ensure that you enter a deposit protection scheme.
Search My Homes Unlimited for properties for sale in York and in other popular university towns and cities in the UK.