A new study claims to show where landlords should invest in 2023, based on recent profits.

The website Money has looked at average yields in each UK local authority area, calculated by analysing the average house price and rent prices during 2022.

The top location was Blackpool which has a low average property price of £140,108 but has a slightly higher typical rent than similarly affordable areas at £550.

Nearby Barrow-in-Furness takes second place: the average property price is £141,360, with an average rent of £550. 

Third is Burnley, with the lowest house prices in the country at £121,409, and average rents at £450. 

Money also looked at 10-year price growth in local authorities, and drew up a separate league table.

Top of this list came Thanet with an average house prices soaring from £146,322 in August 2012 to £332,070 in August 2022, representing a 126.95 per cent increase.

Hastings comes second where average house prices have risen by 108 per cent in 10 years, while nearby Medway has seen 104 per cent capital appreciation in the last decade.