With the saturation and sheer expense of the London property investment market, investors are increasingly looking north to expand their property portfolios, especially in cities such as Manchester. Recent forecasts predict that the prices for residential property in Manchester will rise by over 22% in the next three years so now is the time to act.
Average rental yields of nearly 8% are not uncommon in Manchester, outstripping other investment asset classes by some distance. Since 2010 rental yields have grown by over 6% in the city which compares to a 4.7% growth in the best performing borough in London over the same period. This is why many savvy investors are turning away from the capital and looking to Manchester to capitalise on returns
More compelling reasons to invest….
Here are some more compelling reasons why Manchester property should feature in your portfolio:
- Over 65% of FTSE 100 companies have a presence in the city
- The number of 20 to 30-year-olds living in Manchester has doubled in the last 10 years
- Manchester is the centre of the £50 billion Northern Powerhouse
- Over 85,000 students are based in Manchester, making it the UK and Europe’s largest university campus
- The planned HS2 will reduce London to Manchester travel times to less than 60 minutes
- Manchester Airport is the UK’s largest regional airport with a reach that extends to 225 worldwide destinations including links into China
All these factors point to Manchester being a buy-to-let property hotspot.
The simple facts
The ongoing low supply of housing and high demand in the city; the combination of young people finding it difficult to get mortgages; the mind set of young professionals wanting to live in the city and enjoy all its amenities; and the massive student population.
These are the simple facts that are creating a surge in buy-to-let properties and purpose-built student accommodation across the city.
Download our guide and discover why investing in Manchester could be the best decision you ever make: