Manchester is widely regarded by industry experts as one of the best UK locations for buy-to-let investing, with big changes to the city contributing to this including a boost to the business and infrastructure of the city.
The Reasons behind Manchester’s Popularity Increase
With major regeneration and the relocation of major UK organisations to the area providing a great help to improving the Manchester area, there has been a big surge in the popularity for buy-to-let investors and potential tenants alike. The regeneration of Manchester has been one of the most important factors in this, but there are also a number of other key factors.
One of the biggest reasons for becoming so popular in the property investment world is the fact that Manchester is one of the cities that are part of the Northern Powerhouse initiative, of which has helped to influence investment in various areas, as well as improving transport links. This is a major plus point for investors, businesses, young professionals and anybody else moving to the area, as it provides them with so many opportunities that, firstly, were never available in Manchester before, and secondly, are unmatched by other areas within the UK.
As well as this, plans have also recently been announced for a £70 billion project to transform transport across the north of England, helping to create thousands of jobs and boosting the economy in Manchester. Not only does this make Manchester a much better place to live, but it provides a reason for people to live in Manchester, especially for those that could benefit from the new job opportunities.
Manchester’s Best Buy-to-Let Areas
Many people talk about Manchester as being an up and coming place for buy-to-let investing, but the key part to remember is that there are specific areas within Manchester that are better than others. Some of the best areas within Manchester include:
M14 – The M14 postcode is considered to be one of the very best areas for buy-to-let investments, with strong average rental yields of almost 8% providing very good returns for investors. This postcode covers areas such as Moss Side, Rusholme and Fallowfield, and is close to the University of Manchester’s main campus. A combination of very strong rental yields and a huge demand from students makes this the perfect place for your next investment.
Manchester City Centre – An extremely popular place to live, Manchester City Centre is one of the best places for investors to make their next Manchester investments. Although rental yields are typically lower within the city centre, there are different investment strategies available that can help investors to generate good profit. Flipping is particularly popular within the city centre, allowing investors to turn a property around and benefit from the capital growth.
Salford – Just a short walk from the city centre, Salford is perfect for those looking to invest in property to rent out to tenants. Salford is a very popular place to live, with special thanks to Media City, proving to be very profitable for investors. With the area already achieving high rental yields and also expecting big developments to the area in the near future, Salford is definitely a strong place to consider.
For more information on investing in buy-to-let in Manchester, please contact Hopwood House.
"The increasing number of people now wanting to live and work in Manchester has driven extra demand for property in the area, creating plenty of potential opportunities for property investors."
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