Mansfield Buy-to-Let 2024 Guide

Home.co.uk states that the average rental income for a Mansfield buy-to-let property is £792 PCM. This is considerably cheaper for tenants than the national average rent. According to the Homelet Rental Index, the average UK rental price is £1,283.

In addition, Mansfield’s average rental price is cheaper than the East Midlands average rent, standing at £869 per the Homelet Rental Index.

Buy-to-let is a popular choice for investing for monthly income, but it’s important to find a good location for rental yields to ensure a worthwhile return on investment. Based on the information provided in this guide, the average rental yield in Mansfield is 5.10%. This is comparable to the UK average of 5.2%.

The area has links to Nottingham Trent University thanks to the Mansfield Hub, but the student population is limited, so there’s limited scope for student lets.

Please note: Mansfield property prices and rental yields were found on Rightmove and Housesforsaletorent.co.uk.

Mansfield Town Centre and Broomhill

Mansfield town centre is steeped in history, with a bustling atmosphere and high standard of cleanliness. However, this area is one of the cheaper places to live in Mansfield, with plenty of terraced housing and converted flats available to add to your property portfolio. Mansfield Town train station in this area, connecting the town Nottingham and Worksop via the East Midlands Railway service.

Average Property Price in Mansfield Town Centre and Broomhill

The average property price in this part of town is £192,161.

Average Rental Yield in Mansfield Town Centre and Broomhill

The average rental yield here is 4.88%.

Found in the south of Mansfield, this is one of the richest parts of the area, with property prices reflecting the estimated annual income average per household. According to Mansfield and Ashfield Chad, families who live in King’s Walk, Berry Hill and Oakham earn around £52,000. The area has good amenities and schools. It is also close to the A60, offering transport links to the town centre and wider Nottinghamshire region heading south.

Average Property Price in King’s Walk, Berry Hill and Oakham

The average property price in this area is £288,118.

Average Rental Yield in King’s Walk, Berry Hill and Oakham

The average rental yield for this area is 2.72%.

Located west of Mansfield, Grange Farm and Ladybrook has good value properties. It is a primarily residential area with its own amenities. According to Rightmove, the most popular property type in Ladybrook is semi-detached housing.

Average Property Price in Grange Farm and Ladybrook

The average property valuation in this area is £176,537.

Average Rental Yield in Grange Farm and Ladybrook

The average rental yield in this area is 4.71%.

In the UK rental market, new-build properties stand out as a favoured investment choice, capturing considerable attention from both tenants and landlords.

With their status as freshly built property, these developments require minimal maintenance or upkeep before tenants can take occupancy. This typically results in a quicker move-in process for tenants and a faster turnaround on rental returns for landlords, fostering a mutually beneficial arrangement.

In Mansfield, various projects are in play to help address the ongoing undersupply of housing within the broader UK rental market. For example, in November 2023, work started on 22 new council homes to revitalise the local area. Once completed, this new-build housing scheme is expected to bring a massive difference towards the quality of life for residents and help boost local infrastructure.

Given current market trends, exploring new-build investments like these may present lucrative opportunities down the line. Nevertheless, although some options exist in Mansfield, investors might discover more attractive new-build property deals and a broader range of potential tenant markets in alternative cities, such as Liverpool or Manchester.

The cheap house prices in Mansfield make for a good property investment option, particularly with Bank of England interest rates and the cost-of-living crisis forcing landlords to tighten their purse strings. If you’re looking for a more major city in the region, Nottingham property investment could be another avenue worth exploring.

However, the rental yields are meagre compared to other places in the UK with similar valuations.

For instance, if you want property prices in the same range as Mansfield, Liverpool could prove a savvy investment decision. Properties to buy in Liverpool are £180,268 on average (per the HM Land Registry UK House Price Index), but the average rental yield is significantly higher at 6.97%. Some postcodes, such as L1, L2, L3, L5 and L6, command significant yields due to the proximity to the local university campuses, hospitals, city centre amenities and vast regeneration efforts in the Knowledge Quarter and Baltic Triangle.

The City of Liverpool also has a huge tourist industry, attracting 31.5 million visitors in 2022 thanks to the football, heritage, musical history and nightlife. This gives property investors a chance to explore holiday lets in the region.

Liverpool, despite being further north, has better transport links than Mansfield. As a major city with a strong economy, Liverpool is well-connected to the national rail network, allowing direct access to Manchester, Birmingham and London. Interestingly, Liverpool commuters can reach London by train in roughly the same amount of time as they can from Mansfield.