Best places to bag a buy-to-let bargain for under £65,000

Photo: Yui Mok/PA Wire/PA Images
Photo: Yui Mok/PA Wire/PA Images

Research by property investment portal One and Only Pro has identified the best places in England and Wales to find a buy-to-let property for under £65,000.

The site’s AI algorithm identifies the “diamond” properties most likely to increase in value, which means that even the most inexperienced investors are guaranteed a healthy return whatever their budget.

Darlington in in County Durham takes the top spot. More than a fifth (22%) of properties in Darlington with a price tag under £65,000 have been awarded diamond status. The average price of a diamond property in this market town is £56,468.

Best places to find a buy-to-let property for under £65,000. Source: One and Only Pro
Best places to find a buy-to-let property for under £65,000. Source: One and Only Pro

In second place is Burnley, Lancashire, where a similarly impressive 21% of properties within this price bracket achieve the highest score, and the average diamond property costs just £37,210.

Meanwhile, in Bootle, Merseyside, 21% of properties receive top marks for investment potential, and buyers can secure one for about £53,278.

Grimsby in North East Lincolnshire comes fourth, with 19% of properties being awarded diamond status, and the average cost of a property coming to £56,188.

READ MORE: Why UK property price growth in southern cities is so low

Fifth place goes to Bradford, where 17% of properties achieve the highest score, at an average price of £64,681.

The north-east continues to dominate the remainder of the table, with Sunderland, Middlesbrough, South Shields and Hartlepool, securing the next four spots.

Keighley, where the average price of a Diamond property is £64,268, took the final place in the top ten.

READ MORE: Why it's good to buy a UK property before Brexit

Henri Sant-Cassia, property expert at One and Only Pro, said: “For any deal, don't forget to take into consideration the market. External factors, such as Brexit, could help you find a perfect property at the best price.

Never feel pressurised to increase your offer if you aren't comfortable with the figure. Sit tight and wait for another opportunity to arise.

"Finally, as the results from our recent study show, always remember location, location, location!"