Investment Opportunities In Manchester
Property growth in Manchester is booming. As a city it has fantastic opportunities for investors of all shapes and sizes. It’s considered the buzz of the hub in the Northern Powerhouse and continues to deliver for the North West.
In terms of area, south Manchester and capital growth seem to go hand-in-hand. But if you’re looking at the rental market to yield a healthy monthly income, then North, West and East Manchester are considered better options. Add to this, is Manchester’s vibrant scene. People are moving to the city for its many attractions including the music scene, tourism, independent shops and eateries, art galleries, and of course it’s world-renowned friendly and resilient traits.
Up and Coming Areas For 2018
People and investors often want to know of the up and coming areas in any city, and this is no different in Manchester. The three neighbourhoods/districts given the seal of approval by a national survey named as ‘hipster hangouts’ in a list by TravelSupermarket are Ancoats, the Northern Quarter and Chorlton.
Ancoats ranked highest at number seven on the list of ‘20 hippest neighbourhoods in the UK’, followed by Chorlton (at 10) and the Northern Quarter (at 19).
Along with these areas, the city as a whole has been named amongst the top 10 most exciting cities in the world by Time Out magazine. This, coupled with Manchester’s airport and transport infrastructure, shows the city can compete on the global stage making it far more attractive to investors.
New plans on the horizon come in the shape of a new city centre district. If approved, this will see hundreds of flats become a permanent fixture on the former Boddingtons brewery site. The plans have been submitted by developer Prosperity Capital Partners who want to transform the area by creating a new district known as Old Brewery Gardens.
If the application is successful and planning permission granted, five brick tower blocks varying between 12 and 26 storeys with 556 apartments, will be a new fixture of the Manchester skyline. The build will be accompanied by the introduction of cafes, shops, and greenery (a tree-lined high street) which are all part of the big plans.
Best Buy-To-Let Areas In Manchester
Landlords looking to invest in buy-to-let housing in the UK’s biggest cities should head north, according to LendInvest’s Buy-To-Let Index (BTL Index). In 2018 areas to focus on are Manchester and the Midlands. Although commuter towns surrounding London are still some of the best buy-to-let locations, the instruction is to head to the North West to get more out of what you put in. Right now, Manchester is one of the best places for buy-to-let in England and Wales. With Manchester city centre pegged as a hot spot for investors.
Investment in the city makes sense, it ranks highest for rental yields (5.55 per cent) and rental price growth (5.76 per cent). But why should we believe this? Because the buy-to-let index is created using data from the Land Registry and Zoopla (which lists every UK home), it takes English and Welsh postcodes and ranks them based on the key metrics of rental yield, capital gains, rental price growth and transaction volume growth. It does this in order to calculate the rental yield, the annual rent received on a property is taken as a percentage of its market price.
With Investment Comes Strategy
When thinking about investing in buy-to-let properties in Manchester, it’s about drilling down on what will work best financially and for long-term gain. It’s important to make sure you get the balance right between capital growth and yield.
As an area, South Manchester sees more property growth and this is set to increase. Whereas, lower value areas of the city will be quite different and yields will be higher.