Wondering whether you should invest in Manchester?
Well, we’re here to tell you that now is the perfect time to buy investment property in Manchester, and this page will include crucial information about the city’s economy, property market, what the best buy-to-let areas in Manchester are, its history, travel connections, culture, and education.
Known as the UK’s ‘second capital’, it’s common for people to compare Manchester to London, as it’s the primary metropolis of the North West.
But we believe that for landlords, Manchester might be a better investment than the UK’s capital.
Manchester is a thriving city with a bustling economy, and its thanks to this that there’s such a high demand for rental homes. Whether it’s large or small businesses, Manchester has space for them to operate in every sector, making it a tantalising location for young professionals looking to start a career in a fast-moving city.
The industries of Manchester have created an annual wealth of over £4 billion, and the big players are the manufacturing, business, finance, life science, healthcare, digital, and creative industries.
There’s no indication that things will grind to a halt as time goes on, as employment growth in Manchester between 2002 and 2015 has increased by an incredible 84%. Considering many landlords target young professionals to rent their property, Manchester is the perfect place to invest in to target these potential tenants.
Manchester house prices
Manchester is attractive for those looking to invest in property as the market is in a fantastic state, with house prices on average more than 39% cheaper than London. Though there is a lot of affordable property for sale in Manchester, these house prices are rising steadily along with the rest of the UK, so it’s a great idea to invest today to maximise your long-term capital growth.
At Property Fit, we communicate with clients to assess their target yield, then we use our expert knowledge of the UK property market to find an investment in line with their specifications. Manchester is a big place, with a wide variety of properties available, so whether it’s in the city centre or the rugged countryside, Property Fit can find your ideal investment opportunities in Manchester.
Rental demand and prices
With a higher demand for renting than ever before, Manchester is a fantastic opportunity for our clients looking to invest in buy-to-let property, and trends predict that the demand for private rental homes will only increase.
As of 2011, 17% of Greater Manchester’s population were living in privately rented houses, and the city centre had the largest proportion of private renters when compared with the county, its boroughs, and even the rest of England. Rental prices in Manchester are in line with the rest of the UK and have risen by 6.8% in 2021.
We understand that the most important things for landlords are yields, as these will determine what sort of return on your investment you will make. What makes Manchester one of the best investment opportunities in the UK is that its low house prices and high demand for rental property produce good yields for landlords.
Combine these yields with a predicted property price growth of 28.8% by 2025, now is a great time to invest in Manchester for future profit.
Best Buy-To-Let areas in Manchester
At Property Fit, we always know which areas are good for investments and which should be avoided. We have three or four preferred areas in Manchester with high demand and great potential for capital growth.
To help us decide which of these areas would best suit your investment interests, setup a free consultation with our team. They will be able to recommend which areas of Manchester would best suit you. We can then contact you about any relevant properties that you might want to invest in. We’re always looking to streamline our process, and this saves our clients a lot of time, so please have a look today.
Travel in Manchester
One of the UK’s most populated areas, Greater Manchester is bustling with life, making its interconnected transport networks essential. With its roads, motorways, tram and train rail system, a bus system due to be overhauled, and the planned HS2 high-speed rail network, the county’s infrastructure is wide-reaching and will only improve in the coming years.
This a big benefit for landlords because there is such a wealth of well-connected areas to invest in, making properties in those areas very attractive for tenants who must travel elsewhere for work.
Regeneration & Northern Powerhouse
Manchester is already a fantastic city, with beautiful architecture and strong infrastructure, but the city is always improving. When the city centre was devastated in the 1997 blast, a huge regeneration project was undertaken to give us the magnificent centre you can see today.
A quick walk around the city will reveal just how many construction projects have been completed in recent years, and how many are currently underway. With its status as a Northern Powerhouse city, Manchester should continue onwards and upwards towards a bright future, so investing today will sow the seeds for massive benefits in the coming years.
Manchester – A hub for education
Manchester is a city with excellent access to high quality education, and as a result has one of the largest student populations in Europe, attracting students from all over the world. This is especially important for clients looking to invest in student housing and HMOs as you are guaranteed a high demand for renting your properties.
There are also wider implications that should influence your decision to invest in Manchester, as many companies choose to invest in Manchester because there is such a big supply of well-educated and trained graduates. Over 60% of these graduates decide to continue living in Manchester and will go on to become young professionals looking for rental properties around the city centre, or further out in Greater Manchester in areas that have good transport links
Culture & Entertainment in Manchester
Manchester is a place deeply connected to its history and culture and walking around the city you truly get the sense that this is a place with a pulse. With a wide variety of music venues, public libraries, museums, galleries, green spaces, independent stores, restaurants that serve anything you could want, and an effective intercity transport system making all these things easy to access, Manchester has a lot to offer.
The first industrial city in history, Manchester is a place where the past and the future collide to create a beautiful and dynamic metropolis.
The surrounding area of Greater Manchester continues the diverse energy of its urban centre; from the clean modern look of the Salford quayside to the rugged valleys shot through with a picturesque system of canals.
People in Manchester have a strong connection to the area and its past, and there is a real sense of community that strengthens its social bonds.