If you are a buy-to-let investor considering purchasing property in Manchester, you may first want to look across the M62 at Liverpool, particularly if you’re looking for good-value investments.
A recent Shawbrook Bank study showed that one-quarter of landlords see city apartments as a lucrative investment, especially with people returning to work and wanting a convenient home close to the office.
Luckily, both Liverpool and Manchester have their fair share of city centre off-plan developments available to investors. These properties are placed in advantageous areas that appeal to young professionals and students due to their proximity to things like universities, offices, transport links and local amenities. While M14 is popular with buy-to-let landlords looking to target the Manchester student population, investors in Liverpool can buy into these properties in student-friendly areas such as the Knowledge Quarter and Baltic Triangle.
However, Liverpool is significantly cheaper than Manchester, at least in terms of property prices.
HM Land Registry puts the average Liverpool property price at £176,371, while Manchester is more expensive at £249,633. Both cities have an average price lower than the UK average, but Liverpool is significantly more affordable. In addition, Liverpool also boasts a superior average rental yield of 7.44% (per Zoopla).
Want to know more about North West property investment? See our North West buy-to-let area guides:
