WHY INVEST IN MANCHESTER PROPERTY?
5 Reasons To Invest In Manchester
1. Lifestyle: A Sought-After City
Manchester property investment is helped by the city being an attractive place to live and work. Also, Manchester holds the title of the UK’s most liveable city and is ranked 28th in the world. The city and region offer a quality of life unlike any other in the UK, attracting young professionals, families as well as tourists from around the world.
Whatever the interest, Manchester has something to offer and is well-known for its music and performing arts scene, gastronomy, nightlife and sport and leisure offerings.
As well as all the conveniences of a major city, there’s plenty of nature right on the doorstep with The Lake District and Peak District just an hour away.
2. Job Opportunity growth
The strength of the city’s professional, scientific and technical sectors support Manchester’s positive economic outlook. Between 2024 – 2026, Manchester is due to record the fastest rate of employment growth of any UK city, with job numbers increasing 1.8% per year (the national average is 1.3%).
Many talent-hungry companies are moving to Manchester thanks to the stream of workers provided by its world-class universities. This is good news for property investors. Manchester’s increasing popularity amongst young professionals is spurring a healthy rental and buy-to-let market.
3. House Price
Manchester property investment has caught the eye of investors in recent times. House prices in Manchester have soared by 330% over the past 20 years. The city experienced double-digit growth post-pandemic with annual growth of 12.6% recorded in June 2021.
At the end of December 2022, prices for a new one-bed flat in Manchester averaged £213,000, with two-bed flats going for an average sale price of £300,000.
4. Manchester Rental Growth
Manchester was the UK’s best-performing city for rental growth in 2022 and the city centre recorded a 22% increase in achieved rents in December.
Manchester is seeing even greater yields of 9.4% as rental values push ahead of house prices.
Despite economic uncertainty including rising interest rates, the Manchester rental marketplace continues to offer exceptional returns for landlords. With plenty of investment opportunities, securing a buy-to-let investment property in Manchester is an appealing prospect. When it comes to buy-to-let investments within a top UK housing market, Manchester is one to watch.
5. A Demanding Student Rental Market Accommodation
Manchester is the home to five of the UK’s leading universities known for their excellence in teaching and research and strong industry collaboration.
The University of Manchester ranks 28th in the world (QS World University Rankings). The university is the UK’s largest single-site university campus, attracting high numbers of students from the UK and international.
With demand for accommodation exceeding supply, landlords can expect high demand from students and young professionals. There is a good opportunity in the luxury and high-end student apartment market, in particular. Many students, especially those from overseas, are searching for accommodation of a higher standard.
With one of the UK’s largest growing rental markets, investing in Manchester is an attractive prospect for investors. If you are looking to invest in a property in Manchester, contact us today.