What are the best buy-to-let areas in Manchester? There are several, and there are many reasons why they are the best. But first, we must ask a simple question regarding Manchester property investment.
In the last five years, Manchester has seen a 21% price growth for rental properties with an average price yield of 7%. The average Manchester property investment is around £208,792, making it one of the most competitive and lucrative UK property investments. It is often referred to as the "northern powerhouse" and continues to grow, rivalling London as an alternative for the young business people looking to make a name for themselves.
As London becomes more crowded with people and tourists, Manchester is poised to take its spot as the prime destination. Manchester is known for development, business growth, and population booms, which contribute to a strong, healthy, high-yielding investment market.
Manchester has seen a drastic increase in population and development, with more people coming from the Midlands to work and live in Manchester. The Great North Rail project has spurred growth, which will boost tourism and provide jobs for Manchester and other northern cities.
Best Buy-to-Let Areas in Manchester
Some of the best buy-to-let areas in Manchester are listed down below. However, this is not a comprehensive list, and we suggest you check out our website to find suitable properties to expand your portfolio.
Manchester's Chinatown is growing to become one of the best buy-to-let areas in Manchester. Being the second largest of its kind, Manchester's Chinatown is home to a rich cultural heritage and vibrant oriental aesthetic that attracts tourists and locals alike.
When looking for the best buy-to-let areas in Manchester, Chinatown desperately needs new rentals. As tourists and locals move there to visit or be closer to their native culture, especially international students, rental properties will be in high demand. Many Chinese families are looking to send children abroad and will want them to be close to university campuses. They will search for rental properties in the area where their children can feel close to their native culture.
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Manchester's Chinatown is famous for its pageantry and acrobatics, with countless tourists and locals coming to see the spectacle. Plus, when February rolls around, Chinese New Year parades begin. As these festivities grow, more tenants will be looking for rental properties to work in Chinatown for these events.
Old Trafford will be, by far, the best Manchester property investment for those who love football. Old Trafford is home to Old Trafford, the colossal stadium to which fans know the route by heart. For aspiring football lovers, Old Trafford is a prime place to seek a rental if they want to be closer to the game and the history of Manchester United. That makes it perfect for a dependable and high-yield UK property investment, as football fans and employees at the local pubs will be looking for places to call home next to their work and favourite pastime.
Even for those not there for football, the number of parks and neighbourhoods, also ripe for a Manchester property investment, give endless opportunities for people to live their best lives in your investment.
Every countryside musician wants to make it big in Manchester, and the Northern Quarter is where Manchester punk and Brit-pop gained their foothold. As such, the Northern Quarter is one of the best buy-to-let areas in Manchester for aspiring musicians looking to make a name for themselves in one of the many bars and brew houses that allow for live musical performances.
The Northern Quarter is considered "cool", and having an apartment in the area is something people can brag about; it is a place to get away from it all and indulge in some of the more base and fun activities available in Manchester. As a UK property investment, even a simple studio apartment in the Northern Quarter can return dividends on your investment.
People must consider the history of the districts when deciding on a UK property investment. Castlefield is a historic landmark in Manchester, a staple of both the Victorian and Industrial era right at the banks of the River Irwell. That rich history and unique atmosphere make Castlefield another place to begin your Manchester property investment portfolio.
Many of the old industrial complexes have been renovated into rental properties, making it the best buy to let for an area in Manchester for the aspiring history aficionado. You and your tenant will have a piece of history while you're simultaneously generating passive income in a healthy, relatively high-yielding rental market.
New Islington is the rising star of Manchester's best buy-to-let areas. It is on the waterfront and has seen exponential growth in the past few decades, attributing to a desperate need for rental properties. But what are the attractions? How can you ensure your UK property investment will have a high yield?
New Islington is near the Northern Quarter, making it perfect for people looking for the excitement of the Northern Quarter without actually living in it. New Islington rentals can be for the occasional partygoer, the weekend adventurer who wants a place to relax quietly before tearing it up over the weekend with their mates.
Where Can You Learn More?
Gladfish Property Investment has provided over twenty years of property management to Manchester and other northern cities, helping secure UK property investments and using the latest analytical software. Our expert agents can help guide you through creating your property portfolio.
For more information, contact us here.