Property Investment Company Manchester
Manchester is the fastest growing city in the UK in terms of population and jobs, with the city on track to meet its ambition to be in the top flight of world-class cities by 2025. Such growth is always likely to attract attention, so it's no wonder that property investment in Manchester has proven exceptionally popular in recent years.
Read on to learn more about Manchester property investment, including the performance of the local property market, the future forecast, and the best buy-to-let areas in the city.
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Overview
As the birthplace of the industrial revolution and home to incredible achievements in culture, music, sport and science, Manchester has been a centre of innovation, creativity and progress for centuries.
Furthermore, the city’s business industries are developing at a rapid pace. It has been named the most successful UK city for attracting foreign investment outside of London and winner of ‘Best UK City for Business 2019’ (Management Today). Manchester has become an important economic engine driving the UK’s growth and prosperity, with a gross added value (GVA) of circa £62.8 billion. It is right at the heart of the Northern Powerhouse.
With all that in mind, it should come as no surprise that Manchester’s property market is flourishing. The city’s industrial past is being recognised and celebrated with mass-scale regeneration of old mills, factories and previously dilapidated spaces.
The regeneration of the city centre’s buildings, walkways and attractions has born a truly thriving city. As a result, the number of employers, jobs and talent in the area continues to increase, raising the demand for new property. In particular, there is a growing need for high-quality rental accommodation in Manchester city centre to fulfil the demand from young professionals who want to enjoy the lifestyle associated with living and working in the city.
Nothing exemplifies this better than MediaCityUK. Previously a worn-down region on the banks of the Manchester ship canal, the area has been completely regenerated to create a sought-after hotspot of businesses, housing, and leisure. It has become home to huge companies, like ITV and the BBC, and the local property market has soared as a result.
As an experienced property investment company, Manchester has become one of our top choices in recent years with the city delivering a fantastic return for our clients. If you’re interested in learning more, continue reading below or get in touch with our team using the form above.
Featured Buy To Let Properties In Manchester
Property investment in Manchester - why?
Manchester is a world-class city offering a great place to live, work, and study. It is a great hub for business and has excellent transport and infrastructure. When we factor in the city’s affordable property prices & strong rental demand, it becomes a top spot for property investment.
Manchester property has enjoyed excellent capital growth over recent years, which is predicted to continue thanks to a full pipeline of exciting regeneration projects.
Not to mention, the second phase of the HS2 is due to open circa 2035. The train line will cut travel times to London from 127 minutes to 67 minutes, which will be a catalyst for the region’s growth; delivering new jobs, new homes and new opportunities.
All of these factors together means Manchester tops the leaderboard as the best location in the UK for property investors.
Manchester Property Market Data
The largest increase in Manchester property prices has come in the central boroughs of Manchester and Salford. This is no surprise, these areas have seen the greatest number of regeneration projects, and a huge amount of public and private investment, over the past 20 years.
There is also strong growth in the northern suburbs of Bolton and Bury, albeit boroughs to Manchester’s east have not seen as quick progress.
Manchester and Salford show the strongest average rental yields across the Greater Manchester region.
The city has a limited supply of central, high-quality accommodation, but a very high level of demand from renters. This mix of good, but limited, accommodation, high demand, and reasonable purchase prices means Manchester property investors can achieve excellent yields.
Data from the HM Land Registry shows that the average property price across Greater Manchester has consistently increased since the end of the global recession.
In the graphs above, we see that property prices in some areas within the region have increased more than others, but this more general overview of the entire region shows excellent progress is being made regardless. As such, Greater Manchester as a whole is a very strong option for property investors.
The Office For National Statistics estimates that Greater Manchester’s population will increase by over 10% to 3,097,333 citizens by 2043.
The scale of growth is astounding, given this represents just shy of 300,000 additional people in the area.
Of course, with a stream of talent from the city’s universities, major employers of both regional and international fame, and a dynamic, enjoyable lifestyle, it’s no wonder many are choosing to live in Manchester.
Property Value Forecast
Rental Price Forecast
Best Areas For Property Investment In Greater Manchester
If you are unfamiliar with Manchester and you’re looking to purchase an apartment or house in the city, it is worth getting an idea of the different areas. Below, we have highlighted the three best locations for buy to let property in Manchester.
City Centre
Home to some of the city's biggest regeneration schemes, such as NOMA, Spinningfields, and Ancoats, accommodation in Manchester's city centre is in constant demand from renters.
The population in the city centre is largely made up of young professionals and students, making it a great hub for landlords wanting a prime tenant demographic.
Salford
Leading the way in the increasingly popular Salford is the new business focal point, MediaCityUK, home to the likes of ITV, BUPA and the BBC.
The success of MediaCity has brought property developers and investors alike to Salford to capitalise on the thriving tenant demand.
Trafford
Trafford is a stone's throw away from Manchester city centre (4 km). It is an area with several regeneration projects in the works and more in the pipeline to help boost housing, education, leisure and retail facilities.
The area hosts one of the city’s most interesting and valuable commercial centres, the Intu Trafford Centre. This is the second largest retail park in the UK and brings over 35 million visitors a year.
Other areas
Other areas to consider for Manchester property investment are Spinningfields, Oldham, Rochdale, Bury, Bolton and Stockport.
Each has their own strengths and opportunities, so please speak to one of our team to learn more.
Types of Property Investment in Manchester
Manchester buy to let property is very appealing for investors.
Tenant demand is extremely high due to the thousands of young professionals wanting to live in the city centre, meaning investors are benefiting from fast-rising rental prices.
In fact, research by Ideal Flatmate reported that between 2014-2019 Manchester properties saw an average rental price growth of 37.8% - perfect for a buy to let investor.
Manchester was recently voted one of the youngest cities in Britain, with the region home to around 90,000 students.
Plus, it now has the highest percentage of overseas students of any UK city outside of London.
This means Manchester's student properties can offer investors plenty of tenant demand, leading to a reliable and profitable return on investment each year.
Frequently Asked Questions
Below you can find a range of common questions from previous Manchester property investors. If you require specific details and advice please do not hesitate to contact us today on +44(0)203 627 3987 or via [email protected]
Yes, Manchester is one of the best places to invest in property across the whole of the UK. The cost of buying property in the city is still relatively low (especially compared to London), so buying now means property investors will benefit massively from the expected increase in values over the next few years.
Furthermore, there is huge demand for high-quality rental accommodation. This can help buyers to achieve excellent rental yields across the Greater Manchester region, although particularly so in the most central areas.
According to Zoopla, the average price paid for a property in Manchester over the last 12 months was £209,794, which is still a reasonable price for such an in-demand investment hotspot.
Yes, house prices in Manchester have increased dramatically over the last few years. Data from the HM Land Registry shows the average price paid for a property in Manchester has increased by 37.9% between 2015 and 2020.
This growth is forecast to continue over the next decade and beyond.
Depending on where you invest, and even with the rising prices and demand, property investors can achieve excellent rental yields from buy to let in Manchester.
Central areas tend to perform best in terms of yields, so be on the lookout for any properties close to, or in, the city centre. The likes of Ancoats, Deansgate, the Northern Quarter, Ordsall, Salford Quays (including MediaCity), and Spinningfields are often good choices.
The HS2 is coming to Manchester. Once it arrives, the new train line will nearly half the current travel time to London, meaning it will take just 67 minutes to get to the capital.
As part of the HS2 project, the redevelopment of Manchester’s Piccadilly Train Station and the surrounding area is expected to create 40,000 new jobs and 13,000 new homes, which represents one the largest development opportunities in the UK.