Lettings agent challenges HSBC on buy-to-let hotspot report
A lettings agent has queried research by HSBC which named Southampton, Slough and Blackpool as the best places for buy-to-let investors.
Nowhere in the North-East featured in HSBC’s top 50.
Ajay Jagota, of KIS Lettings, which manages properties for 700 landlords across the North East from branches in Sunderland, North Tyneside and South Tyneside, queried the accuracy of the report.
Jagota said: “If you ask me, the North-East is not just the best place to live, but the best place to invest in property in the UK.
“Coventry comes sixth in HSBC’s list: as a proud product of that fine city I’d have started my business there if I thought it was a significantly better area for investing in property than Newcastle, Sunderland, South Shields, Gateshead or North Shields.
“The ultimate insult is when HSBC go on to claim the best places to invest in property are university and seaside towns. We’ve got five leading universities and we’re on the coast!”
Letting Agent Today has independently queried the HSBC report, which notably omitted both Leeds and Birmingham. We were told that they were outside the top 50, but when we asked for further analysis, we were told this was not available.