Is County Durham a Good Area for Buy to Let Investment?

County Durham is a historic county located in the northeast of England. It is known for its beautiful countryside, rich cultural heritage, and thriving economy. The county has a population of around 530,000 people, with several major towns and cities including Durham, Darlington, and Bishop Auckland.

County Durham has a diverse economy, with a mix of industries including manufacturing, healthcare, education, and services. The county is also home to several universities, including Durham University, which attracts a large number of students each year.

The property market in County Durham has historically been popular with investors due to its relatively low property prices compared to other parts of the country, and high demand for rental properties from students and young professionals. According to Zoopla's property data for County Durham as of March 2023, the average sale price of a property in the county is around £155,000, which is lower than the national average. The average rental yield in County Durham is around 5%, which is on par with the national average.

When it comes to suburbs of County Durham for buy-to-let investment, there are several areas that could be worth considering.

Durham City is a popular area located in the heart of the county. It is known for its beautiful medieval architecture, world-renowned university, and rich cultural heritage. The average sale price of a property in Durham City is around £215,000, and the average rent is around £700 per month. With its high demand for rental properties from students and professionals, Durham City is a great choice for those looking to invest in buy-to-let properties.

Bishop Auckland is another area to consider for buy-to-let investment. Located to the south of Durham, Bishop Auckland is a popular market town with a mix of properties suitable for families and young professionals. The average sale price of a property in Bishop Auckland is around £135,000, and the average rent is around £500 per month. Bishop Auckland is known for its beautiful countryside, including the nearby Hamsterley Forest, as well as its excellent transport links to nearby cities and towns.

Other areas worth considering for buy-to-let investment in County Durham include Darlington, Chester-le-Street, and Newton Aycliffe. Darlington is a popular market town located to the east of the county, with a mix of properties suitable for families and young professionals. The average sale price of a property in Darlington is around £145,000, and the average rent is around £550 per month. Chester-le-Street is a popular residential area located to the north of Durham, with a mix of properties suitable for families and young professionals. The average sale price of a property in Chester-le-Street is around £150,000, and the average rent is around £550 per month. Newton Aycliffe is a popular town located to the south of Durham, with a mix of properties suitable for families and young professionals. The average sale price of a property in Newton Aycliffe is around £120,000, and the average rent is around £450 per month.

As with any investment decision, it's important to conduct thorough research and analysis before making a purchase. Factors to consider include the local property market conditions, the potential rental yield and capital growth, as well as any financial and legal considerations.

Overall, County Durham is a great place to invest in buy-to-let properties, with its relatively low property prices, high rental yields, and demand for rental properties from students and young professionals. Whether you're looking to invest in Durham City, Bishop Auckland, Darlington, Chester-le-Street, Newton Aycliffe, or another area of County Durham, there are plenty of opportunities to build a successful property portfolio.