This guide brings together the latest official figures on house prices and rents in Hull with the main legal points to consider when buying a property to let. It is general information, not financial or investment advice, and anyone considering an investment purchase should take independent financial and tax advice on their own circumstances.
Prices and rents: the official figures
The average price of a home in Hull was £135,511 in July 2026, up 5.9% on a year earlier (HM Land Registry, UK House Price Index, July 2026). The average monthly private rent in Hull was £694 in August 2026, up 7.4% on a year earlier (ONS, Price Index of Private Rents, August 2026).
In East Riding of Yorkshire the average price was £220,408 in July 2026 (HM Land Registry, UK House Price Index, July 2026) and the average rent was £724 a month in August 2026 (ONS, Price Index of Private Rents, August 2026).
An indicative gross yield
Dividing a year's average rent by the average price gives a broad indication of gross yield. Using the two official averages above:
- Hull, all property types: £694 x 12 = £8,328 a year, divided by £135,511 = about 6.1%
- Hull, terraced houses: average terraced rent of £686 x 12 = £8,232, divided by the average terraced price of £125,272 = about 6.6%
- East Riding, all property types: £724 x 12 = £8,688, divided by £220,408 = about 3.9%
These are broad indications only. The rent figures relate to August 2026 and the price figures to July 2026. Both are averages across many different homes, and the rent and price averages are not drawn from the same properties. A gross yield takes no account of void periods, letting and management fees, repairs, insurance, mortgage interest, tax or purchase costs, so the return on any individual property will differ.
Stamp Duty: the 5% surcharge
Buyers who already own a residential property, and who are not replacing their main home, usually pay Stamp Duty Land Tax at the higher rates, which add 5% to each band of the standard rates. The higher rates apply to additional residential properties costing £40,000 or more. On a purchase at the Hull average price of £135,511, standard Stamp Duty would be £210, and the surcharge would add a further £6,776, a total of about £6,986. A 2% surcharge also applies to buyers who are not resident in the UK (GOV.UK, Stamp Duty Land Tax residential rates). Our guide to Stamp Duty and legal costs sets out how the calculation works.
Buying through a company
Some investors buy through a limited company. Companies pay the higher rates of Stamp Duty on any residential property they buy for £40,000 or more, even if it is their first purchase. A company purchase also involves different lending, accounting and tax considerations, and the choice of structure should be made with advice from an accountant before contracts are exchanged.
Leasehold flats
Flats are commonly sold on a leasehold basis. Before buying a leasehold flat to let, the lease should be checked for its remaining term, ground rent, service charge provisions and any restriction on subletting or requirement for the landlord's consent. A short lease can limit mortgage options and resale value.
Tenancy law and licensing
Since 1 May 2026, under the Renters' Rights Act 2025, new private tenancies in England are assured periodic tenancies, section 21 no fault evictions have been abolished and rent can be increased only once a year using the statutory procedure (GOV.UK, Renters' Rights Act guidance). A buyer of a tenanted property will usually take on the existing tenancy, so the tenancy documents, deposit protection and safety certificates should be checked before exchange. Our Hull rental market guide explains the changes in more detail.
Hull City Council requires a licence for any house in multiple occupation occupied by five or more people forming two or more households who share a kitchen or bathroom (Hull City Council, mandatory HMO licensing). Buyers should confirm with the council whether any licence is needed for a particular property before committing to a purchase.
How we can help
Brewer Wallace Solicitors acts on buy to let purchases across Hull and East Yorkshire. We are accredited under the Conveyancing Quality Scheme, and our fixed fees start from £900 plus VAT for a purchase. More information is available on our buy to let conveyancing page, and you can obtain a quote using our conveyancing fees calculator. Our Hull office is at 2 Parliament Street, Hull HU1 2AP (01482 228808).
Sources
- HM Land Registry, UK House Price Index (July 2026 data, published 16 September 2026), July 2026: www.gov.uk
- Office for National Statistics, Price Index of Private Rents (released 16 September 2026), August 2026: www.ons.gov.uk
- GOV.UK, Stamp Duty Land Tax: residential property rates, Rates checked 7 October 2026: www.gov.uk
- GOV.UK, Stamp Duty Land Tax: buying an additional residential property, Checked 7 October 2026: www.gov.uk
- GOV.UK, Renting out your property: guidance for landlords and letting agents, Checked 7 October 2026: www.gov.uk
- Hull City Council, Houses in multiple occupation: mandatory licensing, Checked 7 October 2026: www.hull.gov.uk