Manchester city centre has undergone a vast transformation in recent years and low residential stock levels coupled with high rental demand have made Manchester an incredibly desirable place for property investment. House prices in Manchester have weathered well during the Coronavirus pandemic and have continued to rise despite uncertainty.
Whilst London was previously the top choice for investors, high house prices and low rental yields have made the capital less appealing than it once was.
Our Sales Director, Elliot Vure, is on hand to explain why investors are considering the north of England for profitable buy-to-let investments.
The main draw for overseas investor to choose Manchester over London is price. The average cost of a house in Manchester is £223,999 and the average house price in London is £576,991, 157% higher than Manchester.
In addition to lower house prices, rental yields in Manchester are 67% higher than in London, again making Manchester a more desirable choice for overseas investors than London.
Whilst property prices in London are stagnant, they have continued to rise in Manchester, and this is down to vast growth in commercial and residential investments. Huge corporations such as the BBC, and more recently Amazon, have chosen Manchester over London for their new headquarters, creating thousands of jobs in the area. The rise in office and business uptake in Manchester could be because it’s 40% cheaper to run a business in Manchester than it is in London, making the UK’s “second city” the more attractive option.
For investors interested in buy-to-let opportunities in the UK, we have a number of properties available for investment in the UK’s no.1 investment location, Manchester. If you would like further information on any of our investment opportunities, please don’t hesitate to get in touch with our team today.