Why Invest in Greengate Manchester?
So, why should you invest in Greengate Manchester?
There are currently five excellent reasons why Greengate Manchester investments are proving a hit amongst investors in 2023.
1. Greengate is a hub of regeneration
2. Greengate Manchester investments are affordable
3. Huge house price growth is expected for Greengate
4. Greengate is the perfect gateway to Manchester.
5. There is huge property demand in Salford and Manchester
Let’s explore each in detail.
UK Regeneration has played a big part in the success of UK property markets, with regeneration helping attract new residents to a city.
Excitingly, the future looks bright for Greengate, with millions of pounds worth of regeneration in the pipeline.
Set out in a 2040 vision, Greengate is set to be unrecognizable in the near future.
The 2040 vision outlines future initiatives like:
- To Become the Brooklyn of Greater Manchester
- A New Greengate Park
- Creation of Greengate Boulevard
- Linking Greengate Square to Market Cross
- Regenerate Collier Street Baths
- Support Culture and Heritage
- Active Ground Floor Uses and Public Open Spaces
With already a tonne of work in place, including the introduction of museums, shops, restaurants, supermarkets, and corporate offices, these further changes are set to improve the investment potential of Greengate apartments in Manchester.
A big reason behind many buyers choosing to invest in Greengate Manchester is its affordability.
Properties in Greengate are around £83k cheaper than the city average, and a whopping 193% more affordable than the UK average property price.
With such low prices, the return potential for the area is immense.
Greengate Manchester is in the M3 postcode, which is well-known for its world-class investment potential.
In fact, according to the latest Zoopla data, the average gross rental yield in M3 is a staggering 9.79%!
Even luxury Greengate Manchester investments are affordable, with the brand-new Embankment Exchange, a set of riverside residential skyscrapers, over £20k below the Salford average property price.
Capital growth is a major part of the success of any investment, and Greengate Manchester is offering investors some incredible potential price growth.
In the last year alone, Rightmove has found that property prices in the Greengate area have increased by a whopping 8%.
Price Growth Predicted for the North West by 2025
For comparison, that one-year growth rate is higher than the likes of London, Bristol, and Brighton.
Manchester, overall, has seen a huge market boom in the last few decades, with property prices in the city increasing by over 330% since 2001 – the highest out of every major UK city.
Plus, with further predictions of a 28% rise in house prices by 2025 – the highest UK prediction from Savills – and it’s clear that now is the perfect time to invest in Greengate Manchester.
As far as location goes, Greengate Manchester investments boast some of the best locations for property imaginable.
Minutes away from Manchester city centre, yet at a much more affordable cost, Greengate Manchester is a short journey from the likes of the Central Retail District, Manchester Victoria train station, NOMA, and Spinningfields.
With such an excellent location, the likes of Embankment Exchange are ranked highly as one of the most exciting investment opportunities in the North West.
Spinningfields is one of Manchester’s most important business sectors, helping to attract thousands of young professionals to the city each year.
With plenty of thriving financial businesses in the area, it’s a major draw for the city’s working populous, providing a huge reason why you should invest in Greengate Manchester.
Recently, Manchester was voted in the top 10 global locations for business start-ups and was named as the UK’s best place to live by the Global Liveability Survey.
Thanks to these rankings, it’s clear that Greengate Manchester investments are an excellent choice in 2023.
After billions have been spent in Manchester regeneration, more and more young professionals are choosing to live and work in the region.
With the likes of Spinningfields, MediaCityUK, and NOMA gaining the attention of young professionals across the UK, demand for property in Salford and Manchester has seen a huge rise.
In Salford, the city’s population is up 16.2% in the last 15 years, according to the Manchester Evening News.
It’s a similar story in Manchester, with a 2020 report finding that the city’s population is now over half a million.
This has naturally had a massive impact on the local property market, with a Zoopla report finding that demand outweighs available property supply in Manchester by 5:1 – one of the biggest disparities in the UK.
With such a mismatch in demand versus supply, investment is vital to provide more high-quality housing to a new generation of demanding tenants.
This is what makes the likes of Embankment Exchange so exciting in 2023, showing why now is the perfect time to invest in Greengate Manchester.