Buy-to-let boom as university arrives in Carlisle

The buy-to-let market in Carlisle is proving "very successful" for investors as the city prepares to host a new generation of university students, local residential estate agents H&H KING have reported.

"The student market place is growing" in the city, with private individuals opting to rent out properties right across the scale from "a cheap one bedroom flat to a six bedroom house", said Richard Stronach, a director at H&H KING.

The rise in buy-to-let investment in Carlisle underlines a growing trend for investors to purchase rental properties in university towns, with many reasonably priced mid-sized homes now on the market for between £130,000 and £140,000.

According to a recent report from Landlord Mortgages, 42 per cent of buy-to-let landlords have one or two properties, while just ten per cent have ten or more in their portfolio.

These figures suggest that a majority are buying as a convenient sideline to supplement their principal income stream, for example, as parents buying a property in the town where their child attends university.

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