According to speciality mortgage lender Aldermore, Manchester has been named the best city in the UK for buy to let investment for 2023 after their Buy to Let City Tracker analysed over 50 major cities across the UK.
Speciality mortgage lender Aldermore’s Buy to Let City Tracker has officially named Manchester as the UK’s best city for buy-to-let investment for landlords in 2023 after analysing over 50 cities across the country and ranking them based on five key criteria:
After assessing based on the above criteria, Manchester was named as the number one city in the UK for buy-to-let investment this year thanks to its robust property prices and increasing rental demand that has enabled the market in the city to provide average rental yields of 8%, with the healthy prospect of long-term capital growth.
With over 31% of the city’s residents currently living in the privately rented market, Manchester provides landlords with the benefit of short-term demand and the long-term opportunity to make a high return when selling their property at a later date.
“In its fourth year, our City Tracker highlights how quickly the UK housing market moves across the country. Year on year, we’ve seen the cities offering the best investment for landlords shift consistently. This highlights how landlords really have to be on top of their game to ensure they maximise their investment, looking for areas that offer value not only for the short term but for the longer term too.” Jon Cooper, Head of Mortgages at Aldermore.
At Beech Holdings we have dedicated over two decades to redeveloping and regenerating Manchester and its surrounding area by providing luxury investment opportunities to both domestic and international investors searching for high yields, secure capital growth, and a fully managed investment that allows them to become a hands-off landlord.
In our mission to continue not only providing our clients with the future-proof investments they are searching for, but also to contribute to the infrastructural growth of the city and provide high-end homes for the residents of Manchester, we have used our tenant-centric approach to deliver a brand-new residential offering that will be the first of its kind to Salford Quays.
City Co-Living MediaCity will provide the local area with a brand-new residential development centred around community with whole floors dedicated to communal amenities and space to be used as an extension of the residents’ homes, that has been specifically designed to meet the demands of the modern rental market.
Providing an assured rental yield of 7% and with prices starting from just £139,950, City Co-Living Media City is a key example of why Manchester and its surrounding area was named the best city for buy-to-let investment in the UK for 2023.
To learn more about City Co-Living MediaCity and how you can capitalise on the UK’s number one city for investment this year, get in touch with our expert property consultants today.