Why Invest in Manchester?
As of 2022, thousands of investors are choosing to invest in Manchester property.
But why is property to let in Manchester such a popular option? Why do investors choose the North West city over the likes of London and Birmingham?
Well, property investment in Manchester isn’t just an excellent choice when factoring in rental yields, house prices, and rental demand, but the city also offers world-class infrastructure, regeneration, employment opportunities, and economic growth.
For these reasons, you can find some top property to buy in Manchester. By finding a Manchester investment property for sale, you can set yourself up for huge success.
Manchester Infrastructure and Transport
Voted ‘the best city to live in the UK’ on numerous occasions, Manchester boasts excellent transport links and connectivity for its rapidly rising workforce.
The world-class transport links in Manchester make it easy for residents to commute between other key cities in the UK.
The city’s high-quality rail network and motorway network means that those living in Manchester can easily travel to nearby cities like Liverpool and Leeds in less than one hour.
Other major cities like London, Glasgow and Cardiff are also easy to reach, with a train ride to the capital taking around 127 minutes.
Notably, the new HS2 expansion to Manchester Piccadilly will reduce travel time considerably.
It will halve travel to London to 67 minutes and reduce travel time to Birmingham from 88 minutes to just 40.
This is great for the city’s young professional crowd of renters, increasing the appeal of living in Manchester and boosting opportunities for Manchester investment.
Along with transport links to other cities, Manchester city centre also boasts a sophisticated tram system.
The Manchester tram system allows residents and tourists to travel around the city centre with ease and reach other parts of the city like Altrincham, Bury, East Didsbury, Ashton-under-Lyne, Eccles, Rochdale and Manchester Airport.
You may be asking “is Manchester a good place to live?” before you decide to invest in the area.
And the simple but effective answer is: Yes.
Manchester is a great UK city to live in, offering residents an excellent quality of life.
With a famous shopping scene, eclectic nightlife, an endless range of leisure attractions and plenty of restaurants and bars, Manchester is one of the UK’s biggest tourist spots.
Floods of people head to this Northern city each year for music events like the Warehouse Project or Parklife Festival, amongst cultural events such as the Manchester International Festival.
Manchester’s thriving business scene also regularly attracts high numbers of visitors. Trade shows, exhibitions and conferences are commonly held at Event City and other spots in the Manchester area.
Manchester Economy and Employment
A major factor behind property investors choosing a property investment in Manchester is the incredible economic growth on offer in the city.
Acting as a global investor community, Manchester property investment offers incredibly profitable investment opportunities thanks to an expanding economy supported by massive levels of high-skill employment.
Here are six reasons you should consider a real estate investment in Manchester.
- Manchester is Europe’s second-largest cluster of media businesses, the bulk of which is centred around MediaCityUK in Salford Quays – home to the likes of the BBC and ITV.
- Centre for Cities found that job creation in Manchester outpaced the likes of Berlin, Tokyo, and Paris between 2015 and 2020.
- Greater Manchester is the largest city region economy outside of London, with a GVA of £62.8bn.
- Alongside Liverpool, Manchester was voted in the top 10 global locations for business start-ups.
- There are over 1.3 million people employed in Greater Manchester, with major industries in manufacturing, life sciences, energy, digital, and finance.
- Businesses like the BBC have moved to Manchester from London due to the lower running expenses, with Invest in Manchester estimating that Manchester operating costs are 40% lower than London.
All these factors mean that the Manchester buy to let market has one of the most exciting futures. As the economy continues to grow, average property prices will rise along with tenant demand, making Manchester’s property market an unrivalled opportunity in 2022.