Affordable property with high rental yields in a growing city
Offering high rates of capital growth and exceptional rental yields, Manchester is one of the UK’s stand-out locations for buy-to-let property investment. It benefits from a strong local economy, high population growth, and all-round appeal as a place to live. Here are seven reasons you should be considering investing in property in Manchester.
1. A fast-growing population
Manchester’s population is growing rapidly, and faster than the national average. It also benefits from a large student population, with around 20,000 deciding to remain in Manchester after graduating each year. Helped by this high proportion of graduates remaining after their studies, Manchester’s population is one of the youngest in the country, with around 60% living in the city aged between the 25 and 30.
The city centre population is forecast to grow by 125,000 by 2025, a number that will put severe pressure on the ability of the local authority and house builders to keep pace with demand for new homes.
2. A fast-growing, future-proofed economy
Manchester’s city and regional economy have picked up quite a head of steam. Many of the UK’s leading public companies have a presence here. The BBC has moved its operations here, and Manchester’s financial and professional services sector is booming.
MediaCityUK is engaging creative, digital and media start-ups and established companies. The life sciences and health sector is incredibly strong, serviced as it is with a steady stream of exceptionally qualified young people qualifying from the region’s universities, including the University of Manchester, one of the elites Russel Group universities.
In total, 70,000 new jobs are forecast by 2026.
3. A lifestyle city
Manchester really does offer something to all residents and visitors. From walks in the peaceful and idyllic countryside to all-night dancing in local clubs, and everything in between, Manchester is a perfect lifestyle city. In fact, it was named as the most desirable UK city in which to live in the 2015 Global Liveability Ranking.
4. Transport infrastructure for a 21st-century city
As many cities and towns buckle under the weight of traffic, Manchester is gearing up to provide the quality transport options that residents and visitors demand. The big news, of course, is HS2. Billions of pounds are being pumped into the rail project, and Manchester will be a major beneficiary. Travel in and out of the city by train will take a massive leap forward when services start. London will be just over an hour away – half of the current journey time and in the commuter territory.
As well as rail travel being upgraded, there are major improvements taking place to the road network, and a £1 billion investment into Manchester Airport