Landlords urged to invest in "buoyant" Newport - buy to let mortgages

29 October 2008

Those with buy to let mortgages have been encouraged to take advantage of the "buoyant" rental market within a Welsh city.

Home to a University of Wales campus and a forthcoming state-of-the-art hospital, Newport is set to become a hub for buy to let investors, according to Rachael Davies, an area sales manager for Redrow Homes.

Redrow has several three-storey townhouses in a central location on offer in the town, which Ms Davies said would be a "sound" investment for buy to let purchasers.

"It is an exciting time for Newport, which is enjoying the same sort of investment that has changed the fortunes of Cardiff and Swansea," she explained.

And Ms Davies pointed out that the area is hosting the Ryder Cup in 2010.

The city centre is undergoing an extensive transformation, with several regeneration schemes underway including road improvements and shopping centre refurbishments, notes the council website.