Landlords can achieve nominal rental yields approaching 7% in some parts of England, although protecting rental income is just as important as generating a strong return, according to analysis by The Letting Partnership.

Across England, the average estimated nominal rental yield stands at 5.9%, based on an average property price of £293,262 and monthly rent of £1,446.

Chris Mason, COO of The Letting Partnership, said: “Yield is understandably front of mind for landlords and, as the figures show, there are still parts of the country where investors can achieve very healthy returns.

“However, generating that return is only half the equation. For landlords using a managing agent, thousands or even tens of thousands of pounds in rental income can pass through that business every year, and landlords need confidence that the same attention being paid to maximising their return is also being paid to protecting it.”

Newcastle upon Tyne offers the highest estimated yield at 6.9%, with an average property price of £208,589 and monthly rents of £1,206. Portsmouth and Manchester follow at 6.5%, while Southampton and Tower Hamlets both offer yields of 6.4%.

Bristol, Blackpool and Nottingham each record estimated yields of 6.3%, followed by Lincoln and Kingston upon Hull at 6.2%.

However, the analysis highlights the difference between headline yields and the value of rental income being generated. In Westminster, average monthly rents stand at £3,168, while Kensington and Chelsea records the highest figure at £3,596, despite estimated yields of 4.5% and 3.5% respectively.