Manchester is having a property boom

3rd June 2021

By Will Leyland

Manchester has been high on investors’ lists of top places for a long time, and with very good reason. Despite the pandemic and brief recession last year, the city has done remarkably well with prices, yields and rents all increasing.

Manchester stands out as one of the strongest candidates from the ‘northern powerhouse’ cities, with Leeds, Hull, Liverpool, and Newcastle all enjoying good years as well.

However, with Manchester being one of the fastest growing cities in Europe, there are a special set of circumstances that allows it to be so attractive for property investors.

Consider, for example, that Manchester has one of the best tech economies in the world, with digital companies starting up in the city more than almost anywhere else. Then there’s the fact that the city has three world class universities within its boundaries, as well as numerous colleges, and one of the largest student populations in Europe.

Additionally, many graduates are settling in Manchester and going on to well-paying jobs, seeking rented accommodation whilst they continue their careers.

Property across the UK soared by a staggering 10.9% in the year to May 2021, representing one of the biggest jumps in prices for decades and is probably the starkest example of the recent boom.

However, in some areas of Manchester, prices have jumped by as much as 89% between 2019 and 2020, as reported by the MEN.

WA13, just West of Altrincham saw an enormous jump in prices, with M16 and M15 postcode areas jumping by 78% and 76% in the same period, respectively.

As reported in the same article, it was said: “And, with more time spent indoors than ever, people have had time to rethink their priorities in a home. These factors could be why there has been a hike in demand in some areas of Greater Manchester. In 2020, many postcodes in the region saw house prices surge”.

So, for property investors this is excellent news but perhaps not surprising given that the city saw sharp rises in values last year too.

Many had expected property in city centres and their wider boroughs to fall as the pandemic bit, but the opposite appears to be true.

If anything, it seems as though things are heating up further and that this trend is likely to continue into the latter part of the year and beyond.

As prices rise, along with yields and rents, many are using this opportunity to expand their property portfolios or invest in their first property, so you should be conscious that competition is likely to heat up too.

With students having just graduated, there’s likely to be a large influx of renters into the city, so there are more and more reasons for investors to take the plunge now and make the most of the circumstances that have led the city to be leading most of Europe in this area.

Looking to expand your property portfolio? Get in touch with us today!

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Manchester is having a property boom

03 June 2021

Manchester has been high on investors’ lists of top places for a long time, and with very good reason. Despite the pandemic and brief recession last year, the city has done remarkably well with prices, yields and rents all increasing.

Manchester stands out as one of the strongest candidates from the ‘northern powerhouse’ cities, with Leeds, Hull, Liverpool, and Newcastle all enjoying good years as well.

However, with Manchester being one of the fastest growing cities in Europe, there are a special set of circumstances that allows it to be so attractive for property investors.

Consider, for example, that Manchester has one of the best tech economies in the world, with digital companies starting up in the city more than almost anywhere else. Then there’s the fact that the city has three world class universities within its boundaries, as well as numerous colleges, and one of the largest student populations in Europe.

Additionally, many graduates are settling in Manchester and going on to well-paying jobs, seeking rented accommodation whilst they continue their careers.

Property across the UK soared by a staggering 10.9% in the year to May 2021, representing one of the biggest jumps in prices for decades and is probably the starkest example of the recent boom.

However, in some areas of Manchester, prices have jumped by as much as 89% between 2019 and 2020, as reported by the MEN.

WA13, just West of Altrincham saw an enormous jump in prices, with M16 and M15 postcode areas jumping by 78% and 76% in the same period, respectively.

As reported in the same article, it was said: “And, with more time spent indoors than ever, people have had time to rethink their priorities in a home. These factors could be why there has been a hike in demand in some areas of Greater Manchester. In 2020, many postcodes in the region saw house prices surge”.

So, for property investors this is excellent news but perhaps not surprising given that the city saw sharp rises in values last year too.

Many had expected property in city centres and their wider boroughs to fall as the pandemic bit, but the opposite appears to be true.

If anything, it seems as though things are heating up further and that this trend is likely to continue into the latter part of the year and beyond.

As prices rise, along with yields and rents, many are using this opportunity to expand their property portfolios or invest in their first property, so you should be conscious that competition is likely to heat up too.

With students having just graduated, there’s likely to be a large influx of renters into the city, so there are more and more reasons for investors to take the plunge now and make the most of the circumstances that have led the city to be leading most of Europe in this area.

Looking to expand your property portfolio? Get in touch with us today!

Will Leyland

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