Average House Price: £249,845
Average Rental Yield: 8.75%
The heart and soul of every city, the city centre is often the busiest for rental demand, with most young professionals eager to find accommodation close to their work.
This is especially true for Manchester city centre, which offers excellent employment, world-class leisure facilities, a city-wide tram system, and more regeneration projects than you can shake a stick at.
Thanks to these opportunities and features, Manchester was voted one of the youngest cities in Britain, with 37% of the population aged 18-34 – a perfect age group for buy-to-let investments.
So, what’s the catch?
Well, thankfully, there isn’t one! Manchester city centre offers all the statistics property investors need for a successful investment.
Firstly, Manchester city centre offers some excellent affordability.
According to Zoopla, average property prices in Manchester City Centre are £249,845.
And thanks to the high average rent of £1,822 per month, you can expect average rental yields of 8.75% gross.
It gets better:
Manchester property prices have increased by almost 290% since 2003, according to Land Registry data – one of the highest growths out of every major UK city, with the city centre a major part of this.
As such, if you’re thinking of good buy-to-let areas in Manchester, Manchester city centre should be at the front of your list.