As one of the largest and fastest-growing cities in the UK, Manchester is one of the most popular cities for investors and is widely considered one of the best buy-to-let areas in the UK.
Manchester is known as the economic capital of the North and is considered one of the most culturally significant cities in the region. In recent years, it has become known for offering top buy-to-let opportunities in the UK. Thanks to low property prices and high rental values, Manchester’s property market is quickly becoming the perfect place for property investors to spend their cash.
In October 2024, the Land Registry valued average Manchester property prices at £253,061 which was almost £40,000 cheaper than the UK average and £266,518 cheaper than London’s average prices.
In recent years, central Manchester has been transformed by multi-billion pound projects like the highly successful Media City UK on the Salford Quays.
Headquarters to some of the film and entertainment industry’s biggest names, MediaCity has quickly become the epicentre of broadcasting, television production, and digital media in the north. It offers a variety of state-of-the-art facilities, including TV studios, broadcasting suites, cinemas, fitness centres and university campuses. The area is also home to renowned restaurants at the £3.5 million Central Bay, a popular waterfront foodie destination.
Construction is now underway for a £1 bn expansion, which will double the size of this landmark scheme and improve sustainable energy practices in the Salford area over the next decade.
Along with the delivery of 3,200 new homes to cater for an expanding workforce, MediaCity Phase 2 outlines plans for additional retail, leisure and office spaces. The expansion plans include a new ‘media hub’ for the BBC and ITV, upgrades to the Quayside Media City shopping centre, and 300 new hotel rooms, enhancing accommodation options for visitors and business travellers.
Private rents in Manchester have also grown at an unprecedented rate in recent years. The latest annual increase in average monthly rent in Manchester was a 11.4% rise as of November 2024 according to the Office for National Statistics.
Manchester boasts attractive rental yields above the UK average, with our property professionals finding yields of up to 7% NET returns – around 3% above the national average.
