Birkenhead’s buy-to-let market predominantly focuses on letting to local residents, either those who work in the area or choose to live in Birkenhead and commute across the Mersey to Liverpool.
Typically, Birkenhead properties are most appealing to those who work in the city centre or even Chester, thanks to a comprehensive Merseyrail network and frequent buses.
According to the latest Birkenhead Market Rent Summary from Home.co.uk, the average monthly rent in Birkenhead amounts to £1,241. Moreover, Birkenhead landlords can earn £888 per month, on average, for a one-bedroom property, £1,238 per month for a two-bedroom, £2,536 per month for a three-bedroom, and £2,755 per month for a four-bedroom property.
In terms of rental yields, Birkenhead presents an enticing opportunity for buy-to-let investors, offering highly attractive percentages, particularly in the town centre. The town falls primarily within the Chester CH41, CH42, and CH43 postcode areas. Research on LiveYield indicates that investors can secure impressive long-let gross yields of 8% in CH41, 7.2% in CH42, and 5.9% in CH43. These figures are substantially higher than the UK average yield of 5.08%.
Investors should remember that Wirral Council will operate a licensing scheme in specific Birkenhead areas from 2024, so you’ll typically need a license for rental properties in those specific areas.
In addition, if you are considering shared properties or HMOs in Birkenhead, you should brush up on HMO licenses with the Wirral Council.
Unsure about any of these terms? Learn all you need to know about buy-to-let and how it works with our free guide.
