Greater Manchester areas make up 7 of the top 20 busiest markets in UK

Rightmove has released the top 20 busiest markets in the UK, with Greater Manchester towns covering 7 of the 20 spots. The market is still incredibly busy, but the imbalance between supply and demand is showing improvement, with 8% more available homes on the market.

Greater Manchester towns have covered 7 of the top 20 busiest property markets in the UK, according to a recent report by Rightmove. The market is still incredibly competitive and demanding, but we are starting to see improvements to the imbalance of supply and demand as the available homes on the market is 8% higher than this time last year.

The number of tenants looking for homes is still 17% ahead of the pre-pandemic 2019 market, whereas comparatively the number of available properties is 32% behind that number, driving up the demand and increasing the interest in every available property that does come to market.

Across the UK, the average number of prospective tenants applying for each property sits at 19. In Salford, it is 47, in Stockport, 46, in Oldham, 45, Rochdale, 42, Manchester City Centre, 41, Bury, 30, and in Wigan, 39. To see so many Greater Manchester areas seeing enquiries so high over the national average proves the incredible demand that is constantly ongoing within the city – and why it’s the number one investment hotspot in the UK.

These levels of rental demand show no sign of stopping, which is why landlord across the globe are turning to Manchester when looking to start or expand their property portfolio to achieve the best possible rates, both in rental yield and in capital appreciation. If you’ve been thinking about investing in Manchester, reach out to our expert property consultants today for more information.