A recent study by digital mortgage lender Molo has revealed key insights for those looking to invest in the property market, highlighting the most popular cities on social media for 2024 and correlating these findings with rental yields.
The study, which analyzed social media data from Instagram and TikTok, focused on content related to property, restaurants, and cafes. Molo compared this data with internal figures on rental yields to determine the most lucrative cities for landlords.
Birmingham emerged as a top contender, boasting a substantial social media presence with a combined 9.1 million hashtags and an above-average rental yield of 5.30%. Property-related content in Birmingham alone garnered 3.7 million hashtag views on TikTok, indicating a high level of interest and engagement in the city’s real estate.
Manchester ranked second, with a notable 7.3 million hashtags and an impressive rental yield of 5.19%. It leads on Instagram with the highest number of property-related posts, amounting to 24,172 under #ManchesterProperty.
Swansea, while having less social media traction compared to Birmingham and Manchester, stood out with a high rental yield of 5.20%. Molo’s previous research also found Swansea to be a fast-returning investment location, with landlords typically recouping their investment in just under 14 years.
The study also highlighted London and Bristol as popular on social media but with lower rental yields than the national average, at 4.05% and 4.13%, respectively. Despite London’s massive social media footprint, with around 273.8 million hashtags, its rental yield remains one of the lowest in the study.
Mark Michaelides, VP of Strategy at Molo, offered advice for prospective landlords: “When investing in a buy-to-let property, the initial steps can feel daunting, but a few simple steps can lead you to the ideal location. Start by assessing demand through social media and local letting agents. Consider long-term tenant appeal by examining amenities, transport links, job opportunities, schools, and growth potential. Analysing rental yields to estimate potential returns in specific towns or cities. Make use of our handy rental yield calculator to compare locations and discover the top investment spots in England and Wales for lucrative buy-to-let opportunities.”