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Why the UK Property Market Should Emulate Manchester Investment Model

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    How Does Manchester Stand Out as an Investment Destination?

    Manchester stands out as a prime investment destination among England’s regional cities.

    Over the past two decades, its property market has surged, with house prices soaring by 481%, outpacing other cities. Despite a levelling off elsewhere, Manchester continues to lead many other UK cities. Its population growth over 30 years surpasses any other city, driving demand in the buyers’ market. This influx is fuelled by extensive regeneration projects reshaping the skyline and creating new neighbourhoods.

    The city’s appeal is further bolstered by its thriving residential sector, particularly in the city centre, where newly built homes attract buyers and investors. Manchester’s strong employment prospects contribute to high tenant demand, making it an attractive proposition for property investment. We recommend reading our latest, Why not buy new builds in Manchester guide.

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      What Can Other Cities Learn From Manchester?

      In a recent piece by Elliot Vure of Together, Manchester emerges as a potential model for the development of other regional cities in the UK, especially as investor attention shifts away from London in search of the best long-term investments.

      Vure said: “Realistic optimism, combined with a drive to lend and build, can unlock the city horizons of the future – just take Manchester as an example. If you were to show a picture of the current skyline to a Mancunian back in 1974, they would never believe it was the same place.

      “Glowing with ever-increasing infrastructure investment, a famous nightlife renaissance and some of the tallest structures outside of the capital, modern Manchester even attracts luxury global fashion brands, who utilise the streets as a backdrop to showcase the modern Manchester vibe. And this story isn’t unique; skylines across the UK continue to evolve.”

      Discover More: Want to know more about the best thing to invest in right now? See our guide on whether property is still a good investment.

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      Are Investors Ready to Invest in Property in 2024?

      Eliot highlights that despite some recent stabilisation in the property market, investors remain favourable as house prices and transactions approach pre-pandemic levels.

      Research by Together reveals that 31% of landlords and investors are looking for more buy-to-let properties for sale in the next year, with 59% intending to raise rents. Additionally, 68% feel optimistic about their property ventures for 2024.

      Investment is driving growth in Manchester and its surroundings, leading to an increase in job opportunities. This surge in employment is driving up rental demand, reinforcing investors’ confidence in Manchester’s evolving landscape.

      However, investors may also want to focus on Liverpool, the other major city in the UK’s North West region.

      Much like Manchester, Liverpool has seen vast amounts of regeneration in recent times, leading to the emergence of popular areas such as the Knowledge Quarter and the Baltic Triangle. In addition, regeneration plans are ongoing in the city’s Northern Quarter, just outside the Central Business District, where investment opportunities like The Gateway – a Liverpool new-build property inspired by New York architecture – are set to reinvigorate the surrounding area.

      According to a report from The Data City, Liverpool also has the fastest-growing economy, boasting good value property prices (around £176,000 per HM Land Registry) and some of the UK’s best rental yields (7.44% on average per Zoopla).

      For more in-depth buy-to-let insights, read some of our North West area guides, including:

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      Dale Barham

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      Dale is a property content writer at RWinvest. Keeping a close eye on the UK property market, Dale helps our readers stay informed and up to date on the latest market news and statistics.