SKY high London property prices have caused buy to let investors to look elsewhere for better value for money.
Only 8.6 per cent of all rental properties purchased over the last year were in London, said the specialist lender - perhaps not surprising given that at just under £224,000 the average price of a suitable buy to let property was over 2.5 times that of the north east.
Most buy to let purchases were made in the south east - 22.5 per cent of the total -where the average price paid was £152,304. Other popular areas were the north west, which accounted for 13.4 per cent of purchases as an average of £110,923, and the east midlands, which had 10.1 percent of purchases at an average of £114,375.
