If you search through spareroom, you will see that in Bradford area, the room is about 60 - 80 per calendar month.
- A room is about 240 to 320 per month
- A 1 bedroom flat is about 300 - 400 per month
- A 2 bed apartment or 2 bedroom terraced house 400 - 500 per month
Flats can get high yield. However, I don't like the idea of leasehold and I also don't like to idea of ground rent. Bear in mind that if the lease has less than 85 years left to run, most mortgage companies will not lend against the property and almost none will lend if there is 80 years remaining. Length of lease should be reflected in the price of the property as extending it will get much more expensive once less than 80 years remain.
I would think as the rent is so low, HMO will be very competitive. If we can buy a bigger block and convert into flats. It might be more feasible than competing with low rents like an HMO. I m going to visit Leeds again and keep studying! I would go to Blackpool, too. I will tell you more later.