Property Investment in Manchester

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Located in the centre of England’s north-west region, Manchester is known as ‘the capital of the North’ boasting a population of 2.5 million. With a thriving economy that rivals many other UK cities, including London, one area in which Manchester has started to gain attention for is its property market. Manchester property investment is now considered one of the most promising property ventures to consider, with enquiries into Manchester property rising year on year.

If you’re new to property investment or you’re unsure which city to focus on for your next venture, you might be asking “is Manchester property a good investment for me?”. To help you get a better idea of the benefits of property investment in Manchester and why you should consider the Manchester buy to let market, take a look a look at our guide to property investment in this Northern hotspot.

Why Invest in Manchester?

Highest student population of any city in Europe

MediaCityUK is undergoing a £1bn expansion

Manchester city centre's population is over 550,000

The Manchester Property Market

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Manchester has always contributed a lot to the UK economy. The world’s first industrialised city, the home of the world’s oldest train station, and the birthplace of the world’s first computer and public library – Manchester’s glowing reputation has served it well over the years. Fast forward to 2019, and the city has made a name for itself as a UK property hotspot, with the best investment property for sale opportunities for property investment Manchester offers attracting attention from investors around the globe.

House price growth, increasing rental costs, an ever-growing demand, and affordable prices are just a few of the reasons why so many investors are looking up North. A study by HSBC recently revealed that Manchester had become the second-best location in the UK for property investment.

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Worldwide Appeal

Experienced property investors, overseas investors, and even those making their first property venture continue to see the potential behind Manchester property investment. More recently, there’s been a notable spike in interest from Chinese investors, while investors in Saudi Arabia, UAE, and the wider GCC have also voted Manchester the best city for UK investments.

While London was once the UK’s go-to city for property investments, Manchester, and its growing economy, is turning people’s attention away from the capital. With higher affordability and better potential returns, those seeking an investment property for sale in Manchester will benefit from a much lower cost and better prospects than they would in most other parts of the UK.

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Why Invest in Manchester property

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There are plenty of reasons why you should invest in Manchester property. The main reasons so many are attracted to Manchester’s property market are the high rental yields, capital growth, and growing demand.

Finding a Manchester investment property for sale is a brilliant way to generate a significant return on your investment. With high rental yields and strong capital growth, investors can benefit from both rental returns and a high return on investment when they decide to sell their Manchester property.

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High Rental Returns

Those investing in Manchester buy to let can enjoy higher rental returns than they would elsewhere in the UK. Rental yields in Manchester reach an average of 5.55 per cent, exceeding the average of many other UK cities.

The affordability of Manchester is another factor in the popularity of the city’s property market, and a big reason behind such a gleaming rental market. The average property in Manchester costs just £173,381 compared to £484,173 in London. This means that those involved with property investment in Manchester could buy multiple properties for the price of only one in the capital.

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Strong House Price Growth

The north-west region, including major cities Manchester and Liverpool, boasts the best rates of house price growth in the UK. Between July 2017 to July 2018, house prices in the region increased by 5.6 per cent, higher than any other region. This house price growth is predicted to continue by 2022, with a huge 18.1 per cent boom expected. This prediction, along with the extensive regeneration projects set for Manchester, means lots of opportunity for capital growth in this Northern city and gives even more reason to invest in Manchester.

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Increasing Demand

Another reason to consider investing in Manchester off-plan property is the high level of demand for property in the city. The UK, as a whole, is experiencing a big gap between supply and demand when it comes to rental properties.

In Manchester, the population of students and young professionals is high, creating a constant demand for rental properties and increasing the appeal of both residential and student property investment in Manchester. This has led to a 5.76 per cent average rental price growth throughout Manchester — a rise which is more noticeable in the city centre, with Bury, Salford, Bolton, Stockport and Trafford following behind.

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Is Manchester a good Place to live?

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Manchester is a great UK city to live in, offering residents an excellent quality of life. Manchester has been voted ‘the best city to live in the UK’ on numerous occasions, thanks to its strong employment levels, great connectivity to other cities, and improvements in healthcare and education.

 

Amenities

With a famous shopping scene, eclectic nightlife, an endless range of leisure attractions and more and more restaurants and bars opening up on a regular basis, this city is one of the UK’s biggest tourist spots, boosting the appeal of Manchester property investment even further.

Floods of people head to the 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.

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Regeneration

Manchester is constantly evolving, with ongoing regeneration projects transforming the city and pumping millions into the economy. Greater Manchester was allocated around £366 million to support its regional development through the 2014 to 2020 European Structural and Investment Fund programme, helping to grow investment into businesses, education, agriculture, and job opportunities. Thanks to the ever-growing nature of the city, figures show that Manchester is forecast to remain one of the UK’s strongest performing cities by 2021.

Regeneration in Manchester as part of the Northern Powerhouse initiative has helped the city and its economy grow significantly, boosting property prices in the process. Big plans for the city include a new city centre neighbourhood, St Johns, and a transformation of the Ancoats and New Islington areas of the city.

Both of these projects will create multiple Manchester new builds, homes, leisure attractions, and business opportunities for the city’s residents. Other plans will see the regeneration of Oxford Road and Manchester Victoria stations, along with an overall improvement of transport throughout the city and region. The economic boost that these regeneration plans will create gives a perfect reason to explore the varieties of investment property Manchester has to offer.

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Transport

The world-class transport links in Manchester make it easy for residents to commute between other key cities in the UK. The high-quality rail network and motorway network in the city mean 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 2 and a half hours.

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, along with reaching other parts of the city like Altrincham, Bury, East Didsbury, Ashton-under-Lyne, Eccles, Rochdale and Manchester Airport.

Why is Manchester one of the UK’s youngest Cities?

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With a recorded population of 531,470 in 2017, Manchester has been hailed one of the fastest-growing cities in Europe. Not only this, but Manchester was recently voted one of the youngest cities in Britain. The average age of a person living in Manchester is around 33 years old, with one-quarter of the city’s population reportedly aged between 20 to 29 in 2014.

Since young people are statistically more likely to rent – with one in three millennials said to never own a home of their own – a high population of young people can dramatically boost the demand for rental properties. So why are there so many young people living in Manchester?

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The Manchester Student Population

Just one look at the endless opportunities on offer for students in the city, and these statistics make a lot of sense. Manchester is home to some world-class universities, including the largest single-site university in the country — the University of Manchester.

Around 19,000 international students are amongst the city’s thriving student population of over 99,000. These consistently high student numbers mean that those seeking a Manchester property investment for sale should consider student accommodation as a lucrative investment option.

More and more developers are focusing their attention on the Manchester student market, creating exciting new student accommodation options for investors to get on board with. Since student accommodation is typically more affordable to purchase but receives a lot of demand in areas with a high student population, rental yields tend to be high for Manchester student property investment, making this an ideal route to take.

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Demand from Young Professionals

Not only is Manchester a hit with students, but young professionals are also known to regularly flock to the city. Manchester boasts a lively nightlife scene, a wide range of cultural attractions, and plenty of things to see and do. Along with this, Manchester’s thriving business scene is helping to put the city on the map. A whole host of major businesses and start-ups reside in Manchester, offering young professionals lots of opportunities to succeed in the city.

Record numbers of young people have reportedly been leaving London for Manchester as of late. London was once considered the place to be for young professionals, but the excessive cost of living in the capital has led many to look elsewhere. Even graduates in Manchester are choosing to stay and work in the city, with a recorded graduate retention rate of 70 per cent in 2016.

This rise in the city’s young population makes young professionals one of the best types of tenants to target for Manchester property investment. High numbers of young people working in the city are always seeking quality Manchester property to rent. Our stylish city-centre apartments here at RWinvest make a perfect choice, with prime locations and modern designs. Those who choose to invest in Manchester residential properties like these are sure to attract this thriving young population and benefit from steady demand.

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What are the Best Buy to Let Postcodes in Manchester?

Some of the best buy to let postcodes in Manchester are M14, M19, M5, M3 and M16. These areas are perfect for Manchester property investment thanks to high rental yields, increasing rates of demand, and potential for capital growth.

In the M14 area, average rental yields reach an impressive 10.1 per cent, with M19 following behind with 8.6 per cent average yields. M5, based in proximity to Salford’s MediaCityUK, has average yields of 5.1 per cent, while the M3 postcode comes with yields of 4.7 per cent. The M16 postcode, home to the Old Trafford regeneration zone, brings in rental yields of 4.3 per cent on average.

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Why do these Postcodes perform so strongly?

Aside from rental yields, there are many reasons that Manchester buy to let is so strong in these postcodes. The M5 and M3 postcodes of the city are popular with young professionals and students. Based in Salford, properties in these postcodes are close to MediaCityUK and the University of Salford. MediaCityUK houses a range of big business names like BBC, ITV and Kelloggs to name a few, attracting students and ambitious young professionals to the city.

Here at RWinvest, we work hard to offer opportunities in the best buy to let areas of each city. Our current Bridgewater Wharf property, based in the M5 postcode, comes with up to 6 per cent projected rental returns. With easy access to MediaCityUK and Manchester city centre, these buy to let Manchester apartments are sure to attract demand from the city’s young professional tenants.

Some other of the best buy to let areas in Manchester, M14 and M19, are also prime locations for Manchester student property investment. M14, for instance, includes the Fallowfield area, one of Manchester’s biggest student hotspots. The M16 postcode, home to our sold-out development, West Point, is another prime Manchester area. This postcode contains the Old Trafford area, a growing neighbourhood which is close to the city centre and a number of desirable businesses.

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A Guide to Manchester Regeneration Zones

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Manchester City Centre

The heart and soul of every city is the city centre, and there’s definitely plenty to shout about when it comes to investments in Manchester city centre. Plenty of attractions and amenities reside within Manchester’s city centre, including the Northern Quarter, the Arndale Centre, Spinningfields and more. With such world-class amenities and things to do and see, the city centre is also the ideal place to invest due to regeneration. Perhaps the biggest regeneration plan in store for Manchester city centre is the introduction of a neighbourhood of skyscrapers connecting the Knott Mill area and Great Jackson Street city centre district. These skyscrapers will completely transform the skyline of Manchester, no-doubt attracting new interest to the city.

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Noma

A 20-acre mixed-use development that adjourns Victoria station to the city centre, NOMA is one of the cities most extensive regeneration zones, involving the creation of 4 million square feet of retail, residential, office, hotel, and leisure space. Backed by the Co-operative Group and driven by a vision of sustainability and urban regeneration, the NOMA scheme has been created with the aim to attract more companies to the Manchester area and encourage more investment.

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MediaCityUK

At the forefront of Salford’s new-found business focus is MediaCityUK – a thriving network of businesses ranging from major corporations to start up’s. Once a run-down docklands, MediaCityUK has created a booming property investment market, with plenty of opportunities to cater to local tenant demand. Ever since the first phase of construction began back in 2007, MediaCityUK has gradually welcomed a number of organisations like the ITV, BBC, and BUPA.

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Salford

Attracting significant interest from property investors around the globe, Salford remains one of the UK’s most exciting regeneration areas. Located one mile west of Manchester city centre, Salford is becoming a UK startup hotspot, with 1,393 new companies launching in the area during the first quarter of 2017. According to a study by DueDil, this presents an increase of 85 per cent, proving the significance of the Salford area when it comes to all things business.

This new-found focus on Salford as a business hub has led to the move of more young professionals interested in making their mark on this thriving city. Properties like our Hollywood Manchester apartments are being introduced as a way to cater to this growing demand, providing luxury accommodation to ambitious entrepreneurs and professionals working in the area.

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Trafford

Look four kilometres west of Manchester city centre, and you reach the Trafford area. Trafford is home to over 11,000 businesses and attracts high levels of interest from young professional tenants which makes it a perfect Manchester property investment zone.

Perhaps the most notable regeneration project in the area, the Intu Trafford Centre is the second largest retail park in the UK, bringing in around 35 million visitors each year. The Trafford Centre was purchased by Intu Properties for £1.65 billion back in 2011, breaking the record of the largest single property acquisition in British history. Future regeneration plans set to transform the Trafford area plan to boost education, housing, leisure and retail, with new housing to be built along with the introduction of a new town hall quarter.

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Spinningfields

Located between Salford and the city centre lies Spinningfields, a regeneration project that has been named Manchester’s answer to London’s Canary Wharf. First introduced during the early 2000s, Spinningfield saw £1.5 billion go into the creation of around 430,000 square meters of residential, commercial, and retail space, along with being home to several banks including Barclaycard and HSBC.

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What are Manchester Property Market Predictions?

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Manchester property market predictions show continued growth in multiple areas. By 2022, Manchester property prices are expected to grow by an incredible 22.8 per cent. The type of property investment Manchester offers and the returns it brings will continue to attract investors from both the UK and overseas. The recent trend of people moving to Manchester from the South is also expected to continue, boosting the city’s population.

House Prices will continue to grow

Property price index figures place Manchester at the top of the UK’s 20 biggest cities. Throughout the 12 months to June 2018, capital appreciation in Manchester came to a huge 7.4 per cent, while the national average stood at just 4.6 per cent. During the same period, London’s capital appreciation rates grew by just 0.7 per cent. These figures reinstate the fact that the North is looking a lot more promising than the South when it comes to property market growth.

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The Population will continue to increase

Throughout the first half of 2018, the number of residential buy to let Manchester properties sold had increased by 56 per cent. While a lot of young people are choosing to move up North to escape the expense and hectic atmosphere of London life, many are moving to Manchester to buy property.

The number of Londoners leaving the capital to move up North has tripled since 2010. Many of those moving to Manchester are selling their London properties and purchasing larger homes for the same price up North. For £600,000, for instance, you could either buy a tiny one-bedroom London house or a huge six-bedroom property in Salford.

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Tenants are moving Up-North

A lot of people moving away from London are also choosing to live up in Manchester to buy their first home. Many young people are struggling to join the property ladder, and so buying a home in an affordable location is a lot more achievable.

This trend in London leavers taking on the North was seen throughout 2017 and 2018 and is likely to continue over the coming years. This means that a lot of those moving to the city to buy a home will likely need to find Manchester property to rent while house hunting or saving for a deposit. This will, in turn, boost the overall rental demand, and benefit property investors in Manchester.

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Should I invest in the Manchester Buy to Let Market?

If you want to benefit from attractive rental yields, a steady influx of demand from desirable tenants, affordable prices, and high capital growth, you should consider investing in the Manchester buy to let market.

More and more investors, including those from overseas, are turning their sights away from London and investing in this key city. If you’re keen to enjoy average rental yields of 5.55 per cent and an overall thriving property market, look no further than this Northern hotspot for your next off-plan property investment.

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Manchester
news
14 Nov
Why Invest in Manchester Property

Why is Manchester the Place to Invest?

Manchester is a growing city with many exciting projects happening all year round. Investors should jump at the chance to choose an investment property in Manchester.

18 Jul
Manchester Regeneration

The Impact of Manchester Regeneration on the UK as a Whole

Not only is the business scene in Manchester thriving, but the population is increasing, and residential property is in demand meaning there is a lot to get excited about

18 Jul
Liverpool Manchester Regeneration

Liverpool vs Manchester Regeneration

Both Liverpool and Manchester have undergone various regeneration projects including; Manchester Piccadilly, NOMA Manchester, Liverpool One and Liverpool Waters.

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What do we offer?

Hands Off
Investments

Below Market
Value Prices

High Rental
Returns

Potential for
Capital Appreciation

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Luxury City Centre Apartments

Manchester Prices from £180000

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Bridgewater Wharf

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