Only two of the top 20 local authority districts for rental yield voted to remain in the EU, research from online property investment firm LendInvest has found.
Its latest quarterly research index on the UK buy-to-let market tracks changes and trends in landlord rental yields and capital gains since 2010.
It found that only Manchester and Liverpool were in the top 20 for rental yields. In contrast, only two of the top 20 districts for capital gains – Barking & Dagenham and Spelthorne (Surrey) – voted in favour of Brexit.
Christian Faes, co-founder and CEO of LendInvest, said: “It’s very interesting that the top districts for rental yield, which are often found in the North East and North West, voted so overwhelmingly for Brexit.
“The areas that have seen the best of the recent boom times have generally enjoyed the biggest house price rises, and with that offered the greatest capital gains. Perhaps it is no surprise that they were sufficiently content with the status quo to vote Remain. Areas which have seen far more modest house price rises, appear to have been more disposed to voting for the change promised by Brexit.
“Brexit may create opportunities for property investors, particularly professional and experienced ones. House prices are expected to soften, so some would-be buyers may put off buying. But they still need somewhere to live, which is good news for landlords. What’s more, if house prices do cool as predicted, then investing in property will become even more enticing.”