As an investor seeking healthy returns, you may want to look north to one of the UK’s fastest-growing cities. Manchester, long an economic powerhouse, is experiencing a renaissance that positions it as an ideal city for property investment. With a booming economy, rising population, and urban regeneration transforming the city, Manchester offers solid fundamentals to support robust and long-term property price growth.
Property investment in Manchester boasts promising indicators that point to continued prosperity. As the city reinvents itself, areas once characterised by post-industrial decline now rank among the UK’s most vibrant, livable neighbourhoods. For investors seeking stability and value, Manchester deserves consideration as a city of the future with returns to match.
Average property price: £304,988
Projected house price growth by 2027: 11.7%
Projected rental growth between 2022 and 2026: 18.2%
Projected Greater Manchester’s economy (GDP) by the end of 2023: £71 billion .
Manchester has long been an attractive location for property investment in the UK.
Here are some of the key reasons why investing in Manchester property may be worth your consideration:
Manchester is poised for continued economic success and property price appreciation due to its vibrant economy, urban regeneration, infrastructure improvements, and swelling population. As such, buying property in Manchester is a promising opportunity for investors seeking stable returns and long-term growth.
Manchester’s housing market is experiencing significant growth. House prices in Manchester are projected to increase by 11.7% by 2027. A booming economy, regeneration of the city, and population growth fuel this trend.
With a thriving economy, an influx of infrastructure and real estate investment in Manchester, and more people wanting to live in the city, Manchester’s housing market is poised to continue its upward trend. For property investors, now is an ideal time to enter the market to take advantage of increasing values and strong rental yields.
Demand for rental property in Manchester has increased steadily over the last decade. Rents in Manchester rose by 19.3% in 2022, compared to 2% across the UK.
Manchester’s economy has experienced strong growth, partly driven by its strength as a hub for business, technology, and innovation. The city is home to more than 22,000 businesses and over 28,000 jobs. Moreover, Manchester’s population has expanded rapidly, growing by 9.7% between 2011 and 2021. This combination of a booming economy and surging population has fuelled demand for rental accommodation.
Many new rental developments have been completed recently to meet rising demand, especially in popular central locations. However, despite several new developments in Manchester, supply has struggled to keep up with demand, increasing rental prices.
For property investors, Manchester’s thriving rental market has created opportunities to achieve attractive yields. Manchester rental yields average around 6–7% for apartments, higher than most UK cities. With solid fundamentals supporting future rental growth and demand, property investments in Manchester are poised to deliver solid returns over the long run.
Overall, Manchester exhibits a compelling combination of a rapidly growing population, a thriving job market, constrained housing supply, and rising rents, making it attractive for prospective property investors seeking stable income and long-term capital gains. Partnering with a reputable investment expert can help you take advantage of this opportunity and navigate Manchester’s promising rental property market.
Manchester’s robust economy and business-friendly environment have fueled its property market. Massive investments in infrastructure and urban regeneration have boosted Manchester’s economy and property market.
Some of these include the following:
Manchester’s job market is expanding rapidly, with an unemployment rate of only 5%. The city continues to attract many young professionals in tech, creative, and business services.
In summary, Manchester’s prosperous and diversified economy creates ideal conditions for property investment. The city’s major infrastructure projects and job growth fuel the demand for housing. This results in upward pressure on rents and property values, enabling investors to achieve healthy yields and long-term capital gains.
Given the exponential rise in population, Manchester City Council has invested heavily in infrastructure and amenities to keep up with demand and boost investing in Manchester.
Large-scale residential developments are underway across Manchester. For example, API Global has many regeneration developments, attracting investors to the city.
Manchester has the country’s largest tram network, Metrolink, currently undergoing a £1 billion expansion to improve connectivity across the city. Major rail projects like HS2 and Northern Powerhouse Rail will cut travel times between Manchester and London, making it an even more attractive place to live and do business. Also, Manchester Airport, the global gateway to the North, serves an impressive 199 destinations.
With a booming population, new housing and commercial developments, improved infrastructure, and a thriving economy, Manchester is realising its potential as a Northern powerhouse. The city offers property investors abundant opportunities for solid returns and long-term capital appreciation.
You may wonder if Manchester is any better than London.
Here are some reasons you might want to choose this Norther powerhouse over any other UK city, London inclusive.
When investing in a property, your first instinct will be to go through the process yourself, but this can be costly in the long run, especially when you’re new to the UK property market. A better alternative is partnering with a property investment expert like Baron & Cabot to help you pinpoint where to invest in Manchester for the best returns.
Here are some reasons you’ll love working with us:
Purchasing property in Manchester in 2023 and beyond is a wise investment. With expected strong growth in the North West region’s property prices over the next few years and Manchester properties offering excellent yields and relatively affordable, it’s a compelling choice for new and experienced investors.
The average rental yield for properties in Manchester is generally between 6% and 7%. Some specific areas in Manchester, like Salford, can even reach higher yields. However, these figures can change due to various factors, including the property type and its location within Manchester.
Manchester is a great city for first-time property investors. The city has attracted many investments due to its strong economic growth and housing demand. Its vibrant culture, excellent transportation links, and status as a central hub for businesses and education also contribute to its appeal.
Manchester is home to several universities, creating a consistent demand for rental properties from students. Plus, Manchester’s rental yields are among the highest in the UK, which is a good indicator of property investment in Manchester.
Several areas in Manchester are highly promising for property investment, including the following:
According to Rightmove, the average house price in Manchester is £304,988.
Manchester is a strong contender for property investment. Its high rental yields are among the highest in the UK, making it a desirable option for investors. The city’s vibrant culture, strong economy, and excellent transportation links also contribute to its appeal.
Disclaimer: Any information provided by Baron & Cabot does not constitute financial advice and is for educational purposes only.