The chart shows the range of residential rental yields at a district and post code level. It shows that averages can hide a lot of variance and supports the premise that property investment strategy can be structured at a macro level, but must be executed on a micro (local) basis.

It is worth noting that a low yield regions such as London still contain postcodes with a high income return which can be a signal of undervalued property.

It is also sensible to pay attention to regions with the highest variance in yields at a local level. Applying this logic Scotland, the North West of England and Yorkshire and the Humber are likely to provide some areas worth investigating.