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.
The Manchester property market
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.
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.