Is Manchester the best city to invest in property? We certainly think it’s up there! With this in mind, we thought we would break down what it is that makes Manchester one of the best cities to invest in property.
The infamous city is home to the likes of Oasis, Manchester United, Manchester City, the Smiths, Stone Roses, Deansgate, the Northern Quarter and of course, Coronation Street, to name a few, the list is almost endless.
Specifically looking at property investment in the city, Manchester offers a diverse range of highly lucrative investment opportunities, with residential and student properties all over the region that offer great returns and long-term capital appreciation. But what is it about the unofficial capital of the North that makes the city so sought-after when it comes to property investment?
What makes Manchester the best city to invest in property?
Manchester stands out as one of the most vibrant and dynamic cities globally, earning a reputation for being one of the best cities in the world for property investment for numerous reasons.
First and foremost, Manchester boasts a rich cultural heritage and a diverse arts scene. The city is home to world-class museums, galleries, and theatres, showcasing a wide range of artistic and cultural expressions. From the iconic Manchester International Festival to the renowned Whitworth Art Gallery, the city offers a captivating blend of history, creativity, and innovation.
Additionally, Manchester is a thriving hub of music and sport. It has produced legendary bands making it a focal point for music enthusiasts. The city’s two prominent football clubs, Manchester United and Manchester City, attract fans from around the globe, fostering a passionate sporting atmosphere.
Manchester’s impressive architecture and stunning cityscape also add to its charm. From the historic Manchester Cathedral to the modern marvel of MediaCityUK, the city seamlessly blends the old with the new, creating an amazing landscape.
All of these factors make the city an extremely enviable place to live, something evident to see in the influx of young professionals moving to the city in recent years. This influx only adds to the current supply and demand disparity when it comes to rental properties in the city, further boosting both rents and house prices. There looks set to be little change in the rising prices in the coming years, with JLL expecting house prices and rents to rise by 19.3% and 21.6% respectively in the 2023-27 period.
The city’s reputation as an educational hub is another reason why it is extremely popular amongst students, bolstering the already impressive student property market in the city. Manchester is home to prestigious universities, including the University of Salford, the University of Manchester and Manchester Metropolitan University, attracting a diverse and talented student population from across the world, and with student numbers continuing to rise, the demand for privately owned student accommodation is soaring.
Manchester’s friendly and welcoming atmosphere is a defining characteristic. Mancunians are known for their warmth and hospitality, making visitors and newcomers feel right at home.
The city is also seeing a building boom right now, with commercial and residential properties being constructed on an almost weekly basis, meaning that property investment around the area is absolutely thriving.
With healthy and reliable rental income and house price increases, the city offers one of the best investment markets anywhere across the globe and investing in Manchester property, whether that’s residential or student, has become a core focus of many clients’ investment strategies.
All in all, Manchester has the culture, the music, the architecture, the people and the atmosphere to make it one of the best cities in the world to live, work and invest. If you’re looking to invest in this booming city, why not download our FREE Manchester buy-to-let guide?