Are you thinking of investing in Manchester’s property market? Right now, this is definitely a property hotspot in the UK and this trend only looks set to continue in the years to come. There are lots of advantages to investing in Manchester including a mix of reasonably priced properties, increased desirability to live in this bustling city and a strong rental yield. This is everything that an in investor needs from the property market that they are investing in!
Manchester has been named by many estate agents as one of the UK cities likely to see a rise in house prices over the next decade, so now is the perfect time to invest in this market. What’s more, the surrounding North West area of England looks like it won’t surpass the rise in house prices that Manchester is set to see, which makes it the most appealing Northern city for property investors at this moment in time.
Investing in the Manchester Property Market
Many investors are now shifting their focus away from London and looking further North when it comes to the UK property market. London property is not providing the same return on investment that it once was and Manchester now looks like the next best city for brilliant growth potential. In the last decade, Manchester has seen over £8.2 billion worth of investment, firmly establishing itself as the leading UK city outside of London for property investments.
The city is already benefitting from this investment massively and it is a key player in the Government’s Northern Powerhouse plan, with Manchester looking to be at the centre of it. It looks like it could be set to enjoy favourable taxation here as well as a range of increased local government powers.
While this all sounds great, investors will be wanting to know where exactly in Manchester they should be investing. Should you be investing your money in a city centre apartment? Or head out to the suburbs? Here, we are taking a look at where in Manchester you should be investing your money as an investor.
What Are the Hot Postcodes?
Manchester is well on its way to becoming the most desirable place in the United Kingdom to live and there is lots more potential still to come. There are many postcodes now in Manchester that have become a hot commodity and that you should consider investing in.
Manchester city centre has seen a big, growing demand for luxury apartments and this is a brilliant place to invest. An entrepreneurial atmosphere is taking hold of the city as it becomes a commercial hub and so these apartments fit in with this new atmosphere perfectly with an influx of young professionals looking for city centre, high-quality apartments.
However, let’s not forget about Manchester’s suburbs. Some areas to watch out for include Little Hudson, Longsight, Ardwick and Chorlton-on-Medlock as having the best buy-to-let yield. Demand for these areas, and the city centre, only looks set to grow and is the perfect place for property investors to invest their cash. You can contact RW Invest today to see what Manchester properties they have available for you to invest in.
A Boom in the Commercial Sector
Manchester is also booming for property investors looking to get involved in the commercial sector. Investors should be looking to invest in Manchester properties and foreign investors already have seen the potential that Manchester has to offer in this area. With investors across the globe placing their money here, this is a good sign that its market is very strong. Commercial sector investments are fantastic for medium to long term investments, particularly as Manchester looks to be growing at a steady pace. Commercial property yields are rising faster than the rest of the UK and so if you are looking to invest in offices or retail space outside of London, Manchester is where you should be looking.
Growing Desire for Student Accommodation
Manchester currently has four universities and over 100,000 students, not to mention colleges too, which means Manchester is the UK’s most student populated city. This has transformed it into a first choice destination for students and there is a growing demand for student accommodation to be provided in the city. More and more students are looking for accommodation just south of Manchester’s city centre as this is where many university campuses are located. So, if you are thinking of investing in property, keep in mind that student accommodation is on the rise here. As the demand is so high, so too are rates and a recent survey from HSBC displayed that landlords here get the best rental yields in the entire country.
Don’t miss out on the chance to invest in Manchester’s growing property market and start looking today.