Manchester is the third biggest city in the UK and with a total population in Greater Manchester of 2,682,500 there’s always strong housing demand from both homeowners and tenants.
The average house price in Manchester is £136,800. The city has seen property values grow on average by around £13,000 over the six years since the recovery started in 2009.
Demand for accommodation is also very high thanks to a number of leading higher education establishments like The University of Manchester, Manchester Metropolitan University and Royal Northern College of Music.
And there’s accommodation for all needs and budgets; young professionals often seek the city experience but without the price tag, and head to the outskirts, whilst others may be looking for more central accommodation and are attracted to the buzz and convenience of city-centre living.
Depending on your requirements there are many superb rental yields and lower priced properties from two up two down terraces in the East of the city to new, ultra-modern high-spec city centre apartments.
One of the key factors to consider that makes Manchester a superb area for buy-to-let is the price of the properties in some zones in Greater Manchester. This coupled with the rental prices across the area produces an excellent yield for investors.
An article in the The Telegraph recently quoted yields from figures provided by HSBC in cities outside of London with Manchester taking second place with 7.98%.
Benjamin Disraeli argued that “what Manchester does today, the rest of the world does tomorrow.”
So why is Manchester special:
Host of the the 2002 Commonwealth Games, the city is home to one of the world’s most famous football clubs – Manchester United, as well as top Premier League club Manchester City.
It’s one of Britain’s most popular shopping destinations, a paradise for shoppers on any budget. High end shoppers head to a number of shops including Selfridges or the famous Trafford Centre
There’s an eclectic mix of architecture – its ultra-modern buildings share the skyline with striking neo-Gothic structures like the Town Hall.
The city’s excellent transport structure and surrounding road network is vast, the Oxford Road corridor is the busiest bus route in Europe – perfect for commuters.
Why invest in the North West? – Robin Pilley
So how do I get into this market?
The team at CXG Invest are ready to discuss your individual needs.
We have a range of commercial and residential investment opportunities for sale in Manchester to discuss with you, and if you have a specific location in mind we will work with our developers to source you the best property for your requirements.