Whilst the Manchester property market will certainly face some short term volatility as a result of Brexit, over the long term property experts are still predicting that the market will eventually settle down and remain a highly attractive investment proposition.
International investors may initially be reticent about investing in Manchester property whilst the uncertainty exists but, if the pound continues to drop significantly, savvy international investors will swoop in to take advantage of lower property prices in the city.
Here are some of the key reasons that Manchester remains a robust investment location:
- Diverse and vibrant economy that is much less exposed to the EU and has strong trading links with the Middle East and the Far East.
- Strong investment in the infrastructure of the city - £1 billion expansion of Manchester Airport and the second City Metrolink Crossing.
- A well-educated and qualified workforce that is significantly cheaper than a London workforce
- A major under-supply of residential property compared to demand
Irrespective of the Brexit decision, the UK has a major housing supply issue which means that there is an ever growing list of people who are eager to rent. Investing in buy-to-let properties is therefore still a highly viable and attractive opportunity despite the fears that Brexit has created. People still need somewhere to live and if they can’t afford a mortgage, buy-to-let is where they will turn. Brexit hasn’t changed that simple fact and Manchester, in particular, is well placed to thrive in a post Brexit environment.