Recent data shows there are around 322,000 under-35s living in the city of Manchester, and more people are being attracted to property hotspots like Great Jackson Street sitting right at the heart of the City Centre, because of the volume and variety of jobs on offer in the vicinity. Rental demand in Manchester is high, not only from the city’s graduates but also young professionals and those relocating from London. As a result, rental property market will stay for long in the area, making Great Jackson Street Employment scene a great advantage and highlight point for long-term, serious investments as property investors are expecting higher yields and appreciation values in the near future.
Online comparison portal GoCompare recently ranked Manchester as the number one place in the UK to be a landlord. The study looked at factors such as average property price, average yield, population under 35, number of properties available, number of letting/management agencies, number of new housing developments, properties currently available to rent, and rental price growth. A survey by Simply Business also hailed Manchester as the top place for buy-to-let alongside London.
With such a high demand for rental property in the city, it is no wonder that Manchester offers some of the best yields in the country, with some areas like Great Jackson Street achieving returns of as much as 8% for investors.
Manchester: Where Student and Young Professionals Chase Their Dreams with Solid Job and Employment Opportunities
The relocation of business giants like Google, Amazon and Microsoft to Manchester have created an astounding impact making Great Jackson Street Manchester Business and Employment Sector an integral part of the city. Recently, the BBC relocated over 2,300 staff to its new Manchester offices in Media City. Young professionals chasing employment and job opportunities will always require accommodation in the area, which will take effect on the already growing demand for rental properties. Great Jackson Street, with its location right at the gateway to the city centre and in close proximity to top businesses in the area, allows investors to achieve high rents and when the right time comes to sell the property on, capital will naturally appreciate.
As Manchester Business and Employment Sector flourishes with professionals seeking the convenience, accessibility and vibrancy of city life, Great Jackson Street, being right at the doorstep of the City Centre will eventually take advantage of the young and thriving professional community.
The city manages to leave the next generation of young professionals looking to rent or buy as close to the city centre as possible to make the most out of its convenience, superb travel links and enjoyable array of shops and bars to unwind at after a long day of work.
With its rich industrial backdrop, Manchester stands today as a busy and thriving commercial centre, and a large number of other international companies have decided to base themselves within the bustling city centre area. Widely known as the UK’s leading commercial centre after London, a substantial amount of investment over the past ten years has increased the city's corporate appeal.
This thriving business and corporates scene makes the area even more attractive to students chasing employment and job opportunities in the area after graduation or even for internship.
Great Jackson Street Property Investment: Affordability Vs. London
There are many reasons why people are making the move. Average weekly wages are indeed lower, according to Centre for Cities, the average weekly wage in London is £751.40, compared to £525.60 in Manchester. Add that to the fact that living costs are on the modest side in Manchester as compared to London. Figures released by home.co.uk, average rents in London are a staggering £2,788 pcm, compared to £1,141 pcm in Manchester.
There is not much different with regards to wages either, so it is only natural that people would want to live somewhere with more affordable living costs, to leave bit of extra money in their pockets at the end of the month. Regeneration and business relocation also mean that people often have access to the same jobs, especially in broadcasting and technology, where Manchester was hailed as the best city to work in.
As this popular part of the city continues to thrive and develop, so does the demand for property within the area. So, whether you’re looking for something long-term or a quick return on investment, Great Jackson Street, Manchester should fit right in your portfolio.
Great Jackson Street, right at the heart of Manchester City Centre is one of the most exciting places for property investment today. It has a well established and vibrant city living scene, which is perhaps the best of any UK regional city. The city centre has all the amenities needed for day to day living plus a huge range of shops, bars, clubs, restaurants, music venues, museums and galleries.
Read more about our Great Jackson Street, Manchester Property Investment Hotspot series below or if you’re interested in running through our local Great Jackson Street new build developments chat with the team on 02079236100 or book a time.