Things are not looking as grim in the north as far as the buy-to-let market is concerned.

While London is enjoying a big rise, the cities in the north of the country are also seeing more movement in the sector, according to Manchester Agent Philip James.

In the first quarter of 2011 rental figures increased by nearly 8 per cent, with the little revival being put down to restricted borrowing and a lack of first time buyers.

Owner Philip Nolan said: "Property is now very affordable in Manchester, but only for those with money behind them or a decent deposit. And for the north of England, that means landlords, both professional and amateur."

Hull has also seen increased interest with the new £165million Humber Quays development looking like it will do well. The development looks over the giant Humber and has high quality office space in an area where a lot of regeneration and rebuilding for the future is taking place.