RICHBRITS UPDATE - Sunday 5th July, 09

Last Chance to book online... The Richbrits Networking Event is happening tomorrow Monday 6th July... so purchase your tickets TODAY! 6th July 2009 start time 19:00 to 21:00 MARRIOTT HOTEL, GLASGOW ROAD, EDINBURGH (just off the bypass) Paypal link If you are unable to use paypal, you can of course pay at the door. However, please confirm your attendance prior to the event, to help us with catering and seating arrangements. Contact Laura or myself to reserve your place laura@richbrits.co.uk

SUNDAY MORNING HUMOUR... It is the month of July; a seaside town sits and looks out over the North Sea. It is raining, and the little town looks totally deserted. It is tough times, everybody is in debt, and everybody lives on credit. Suddenly, a rich tourist comes to town. He enters the only hotel, lays a £100 note on the reception counter, and goes to inspect the rooms upstairs in order to pick one. The hotel proprietor takes the £100 note and runs to pay his debt to the butcher. The Butcher takes the £100 note and runs to pay his debt to his pig farmer. The pig farmer takes the £100 note and runs to pay his debt to the supplier of his feed and fuel. The supplier of feed and fuel takes the £100 note and runs to pay his debt to the town's prostitute who, in these hard times, gave her "services" on credit. The prostitute runs to the hotel and pays off her debt with the £100 note to the hotel proprietor, for the rooms that she rented when she brought her clients there. The hotel proprietor then lays the £100 note back on the counter so that the rich tourist will not suspect anything. At that moment, the rich tourist comes down after inspecting the rooms, and takes his £100 note, after saying that he did not like any of the rooms, and leaves town. No one earned anything. However, the whole town is now without debt, and looks to the future with a lot of optimism. And that, ladies and gentlemen, is how the British Government is doing business today.

Buy-to-let landlords have been hard hit by the property crash, along with private homeowners. But one small silver lining in the generally gloomy outlook is that, with property prices coming down faster than rental values, yields are actually rising for many purchasers of rental property.

With the help of PropertyEarth.net, Times Money has compiled a list of the ten towns or boroughs with the highest yields for buy-to-let investors.They are spread right aross the country, from Scotland to Shropshire and from Newcastle to Neath, in Wales.

1. Glasgow

Average Yield: 12 per cent.

Typical property: A one bedroom first floor flat in Rutherglen, Glasgow. Price: £32,000. Monthly Rental: £350.

2. Houghton Le Spring, Tyne and Wear

Average Yield: 10 per cent

Typical property. A two bedroom terraced house five minutes walk from the town centre. Price: £46,500. Monthly Rental: £400.

3. Telford, Shropshire

Average Yield: 10 per cent

Typical property: A one bedroom first floor apartment flat Price: £59,950. Monthly Rental: £500

4. London Borough of Lewisham

Average Yield: 8 per cent

Typical property: A one bedroom first floor flat in Lee. Price: £95,000. Monthly Rental: £675

5. MIddleton, Manchester

Average Yield: 8 per cent

Typical Property: A two bedroom middle terraced house in a suburb of Manchester. Price: £64,950. Monthly Rental: £450

6. Barnsley, South Yorkshire

Average Yield: 8 per cent

Typical Property: A three bedroom semi-detached house in the Darton district of Barnsley. Price: £65,000. Monthly Rental: £450

7. London Borough of Newham

Average yield: 8 per cent

Typical Property: A one bedroom flat in East Ham. Price: £104,500. Monthly rental: £700.

8. Burnley, Lancashire

Average Yield: 7 per cent

Typical Property: A three bedroom terraced house in the east Lancashire town of Burnley. Price: £79,500. Monthly Rental: £525

9. Neath, Wales

Average Yield: 7 per cent

Typical Property: A two bedroom semi-detached house in the Neath Abbey part of the town. Price: £69,950. Monthly Rental: £450

10. Newcastle

Average Yield: 7 per cent

Typical Property: A three bedroom semi-cetached house in the Throckley district. Price: £69,950. Monthly Rental: £450

You can find out more information by going to PropertyEarth.net. Pictured: A semi-detached home in Neath, Wales.

What about other Scottish areas... I've seen a few in Lanarkshire recently at 12% or is Glasgow representative of the whole of Scotland?? I'm sure that if you buy in Craigneuk, Wishaw or Forgewood, Motherwell you can still 'Buy One Get One Free'!!