On new projects the timing is everything especially the larger projects as they take longer from start to finish.If you have a 250 unit complex at an absorption of 10 a month that is a little over 2 years to get fully stabilized. 

@Eli Jean-Gilles absorption rate is still way below the level needed to drive the vacancy down, and net influx of well heeled MA folks/downsizers is filling those more expensive units.

If it were me, I'd be looking at markets where: 1-homes stay on the market for less than 50 days 2-you can still get 1% rule3-there is a notable hipster scene 4-is also a decent tourist destination 5-inventory can't keep up with demand so absorption rate is > 20%

What is the turnover or absorption rate of the area?

Trying using other metrics to decide on a good rental market such as economic stability, rental rate to purchase price, year on year rental increase, and rental property absorption rate will give you a better look into the true worth of a rental market.  

Knowing stats such as absorption rates, homeowner rates and vacancy rates are some key tools to evaluate the market. 

The absorption rate jumped high in March!

I don't know how Real Estate works in England but in the states each local association of Realtors produces their own monthly stats i.e. median home price, absorption rate.

Market leasing assumptions: $5/sf for tenant improvements, 2 month free rent/ concessions, 4 months absorption (time it takes to lease-up), brokers commission 25% (7,7,7,3,3).$1,000,000 - market value(-$30,000- TIs)(-$10,000- free rent)(-$20,000- rent loss during absorption)(-$15,000- brokers commission)(-10,000 - entrepreneurial incentive -optional ) (-$85,000 - total lease-up costs) $915,000- Offer priceIf you’re financing the property, just ask the lender if they’re going to require you to set up a reserve account until the property  is leased. 

Purchase price: $5,535,000 Cash invested: $5,535,000 90 lot move up SFR subdivision 5200 to 12,000 sq ft lots homes from 1800 to 3000 sq ft price points 475k to 600k .absorption 2.5 to 3 per month.