There’s been a lot of talk in the press recently about the so-called Northern Powerhouse effect and whatever your thoughts on the topic, when it comes to property investment there certainly seems to be some positive traction towards the north.
In a recent HSBC report, 3 of the UK’s top buy-to-let locations are based up north, with Manchester being at number 1 and Kingston Upon Hull and Blackpool just behind. Rents have gone up by 4% over the last year in Manchester. With its strong local economy, modest property prices and large student population, the buy-to-let market in Manchester is booming.
Manchester has all the attributes that point to it being a great buy-to-let opportunity. The city has the highest percentage of 20 to 34 year olds in the country – a prime pool for renting because they lack the funds to buy properties – and over 105,000 students, many of whom also need to rent.
The strong rental demand in Manchester is attracting investors far and wide so if you’re looking to enter the property investment market and looking for a prime location to start your portfolio, you won’t go far wrong by checking out the current investment opportunities in the city.
To find out more, please contact one of the team today.