Manchester investment property is already some of the hottest around, with prices, rents and yields in the city growing quickly and attracting multiple investors from around the UK and Europe.
As an investment class, it’s offering almost unrivalled security and returns in an uncertain world following the pandemic and now tensions across Eastern Europe and the wider European continent.
There is a wider point to be made that the north of England is now leading its southern neighbour in terms of value and returns, however, Manchester in particular is showing huge promise and attracting serious investment from the UK and abroad.
Thanks in part to the booming local economy, but also to the fact it has three world class universities, the innovation in the local economy and within business is cutting an impressive path for those looking to live and work in the city.
Let’s take a look at a few of the factors making one of Britain’s most exciting cities so attractive for investors, landlords and those investing in buy to let.
Growing rental demand in Manchester
According to a report released by Zoopla, rental growth hit a 13 year high at the end of last year, with demand soaring for privately rented property.
The report stated “The rate at which rents are rising reached a 13-year high of 8.3% in the final three months of 2021.
The average annual rent for those agreeing a new let is now £744 higher than pre-pandemic levels.”
Not only that, property prices grew by over 10% across the UK, and areas of Manchester even exceeded that, with Stockport, Bury and Ashton proving particularly popular as local councils continue to invest significant amounts of money in local infrastructure such as new roads, public transport and local businesses.
In Stockport, for example, the council is pumping hundreds of millions worth of investment to transform the town centre. The area around the train station and the bus station are undergoing huge regeneration projects aimed at bringing investment, jobs and people into the area.
Considering Manchester investment property?
As specialists in buy to let property, we know how much our investors and clients value investment opportunities in and around the Manchester area.
As one of the UK’s premier investment cities and one of the best areas in Europe to own property, we see huge demand each and every year for exceptional off-plan property investment.
In a year that has already seen so much uncertainty in other investment markets, now more than ever we’re seeing many of our clients looking at the reliable and secure returns offered by the Manchester market.
With construction booming and the local economy following suit, the market is expected to grow even further over the next five to ten years, so it certainly makes sense for our clients to look to either start or grow their portfolio now rather than later.
If you’re interested in a Manchester property investment opportunity then why not get in touch today?