The property market in Manchester and northern England continues to hit the headlines in terms of domestic and international investment. Bolstered in part by the Northern Powerhouse, house prices and rental values have risen across many northern regions, with the North West and particularly Manchester leading the way.
The latest Hometrack cities report, which tracks the property performance of the top 20 UK cities, has revealed that house prices in Manchester have risen by an average of 6.8% compared to the same time last year.
Despite the political and economic instability brought about by Brexit, Manchester property continues to attract strong demand from buyers and investors. One of the main reasons for this is that Manchester can tell a very compelling story – home of BBC Media City, expansion to the airport and MetroLink tram system, the regeneration of the city centre and the high presence of FTSE 100 companies create a great deal of confidence in the city.
Combine this with the fact that there are thousands of young professionals in the city and around 100,000 students, demand for buy-to-let couldn’t be higher.