It's an exciting year for Property Investment in Manchester as more and more companies have reported a surge in demand for buy-to-let property in Manchester over the past three months.
During that time, 70% of the property investment company sales were of the Manchester Property Investment scene.
Dale Anderson, Managing Director of Fabrik Invest, comments: “We’ve sold around £8 million worth of property in Manchester in the past quarter and demand continues to be strong."
Manchester is keeping its stature of being one of the fastest growing property investment hotspots in the UK ticking all of investors’ boxes from high returns, guaranteed value appreciation, to being able to achieve high rental yield. There is a surge in Manchester Property Investment this year, whether they’re domestic investors or those putting their money into UK property from overseas.
According to Zoopla’s June 2021 UK House Price Index, Property Investment in Manchester has enjoyed the third highest price rises in the UK over the past year, with an average increase in value of 7.4%. Savills, meanwhile, is forecasting a 28.8% rise in property prices across the North West over the five years to 2025.
The great potential Property Investment in Manchester also stood out in Aldermore’s 2020 Buy-to-Let City Tracker. It ranked the city as the best location in the UK for landlords to invest in, with rankings based on factors such as average rent prices and local void period levels.
According to data from the Office for National Statistics (ONS), labour productivity in the North West grew by 4.6% in 2020 (compared to 2019). This is the fastest rate of growth in the UK and well above the national average of 0.4%. Manchester is also the UK’s third best performing city when it comes to attracting foreign direct investment (FDI).
Matt Harper-Penman, Group Director of Fabrik Invest, comments: “Property Investment in Manchester is a leading light right now. With so much going for it, including strong demand for rental homes and a relatively low entry point – the average property there costs £188,900, compared with £488,600 in London – the city has enduring appeal for investors.”
At this rate, Manchester will only grow to be one of the most promising property investment hotspots in the UK, enhanced by its thriving city centre with quality facilities, superb residential spaces, flourishing employment and job opportunity scene with some of the biggest tycoons relocating in the city. Serious property investors should definitely take Manchester into serious consideration with all the promising figures mentioned above.
Read more about our series on Property Investment in Manchester below or if you’re interested in running through our local Manchester new build developments chat with the team on 02079236100 or book a time.