Benham and Reeves’ analysis of the current market data shows that just slightly over 11,000 properties are on offer with a tenant already in situ. This indicates that while this situation might be a bonus for investors, it is a rare find in the real estate investment properties market at the moment.
As mentioned, they found that the North West was the region with the most pre-tenanted properties on the market. The properties found in this area made up 21% of the national total.
The South East came in second, accounting for 16%, followed by Yorkshire and the Humber (14%), the East Midlands (13%), East of England (11%), and West Midlands (11%). The South West and the North East were each found to make up about 5% of the total, meaning investors in these areas may find it harder to snag a pre-tenanted property.
However, the region with the least opportunities to find a tenant in situ was London. The capital’s stock accounted for just 2% of all pre-tenanted properties in England.
The availability of tenanted properties is another factor that can be considered when searching for the best buy-to-let areas.
Further Reading: Find out how to generate a passive income or who can buy property in the UK with our RWinvest guides.
