As Brexit loom over the UK economy until at least the end of March 2019, many are thinking about how the various sectors may fare. In terms of investment, the one asset class that people seem most worried about is housing.
The good news for any potential property investors around the Manchester area in 2019 is that Brexit may not be something to fear at all. Top industry expert Ali Seytanpir is a property guru with a vast knowledge base in the property investment market. While he agrees that Brexit could cause short-term turbulence, his long-term view is that the stable nature of Britain’s housing sector will be largely unaffected.
What does that mean for Manchester in 2019?
In recent years, Manchester has been a city very much on the up. That is certainly true for anyone investing in property there. 2018 was a real boom year for the whole Manchester housing sector withsales of residential properties up by a whopping 56% in the first half of the year. Average house prices also rose by well over the 3% national average last year.
All that is great news, but can it carry on for 2019? For anyone looking to invest in property in Manchester during this coming year, that is the crucial question. Luckily, many experts seem to predict that the Manchester property market will continue to boom. Rental yields are expected to go up around 40% by 2022 and with average sale prices expected to rise over 20% in the same period.
This positive vision of the future for Manchester’s housing sector certainly seems to suggest prospects are still good for investors.
What makes the city so good for propertyinvestors?
As the figures from 2018 and the projected figuresmoving forward show, there are positive indicators when it comes to continued property investment in Manchester. But just what ingredients are present that makes for a housing sector that performs so well?
Anyone who lives in the city knows that Manchester has a resident student body. With two major universities in MMU and the University of Manchester, the need for student accommodation is likely to grow in the future. A large number of the students are from overseas – places like China have many of their young citizens travelling to Manchester to gain university qualifications. This reliable stream of people who need properties to rent makes the city a wise buy-to-let investment for 2019.
Greater overseas investment –
Another factor that bodes well for property investment in the area for 2019 is the growth of overseas investment into the property sector. More and more foreign investors are moving their focus away from London to big cities like Manchester. So investing in Manchester property and then being able to sell it to a foreign buyer in 2019 is an attractive prospect.
Superb transport links
Another factor which makes investing in Manchester housing tempting is the superb transport links the city has. With access to major UK motorways, airports and rail connections, the city is very attractive for people looking to live in the region. This means that property is always sought after which is great news for any investor. This will not change in 2019 and means the city should still be a good place to invest in property.
Powerhouse of UK business
– arguably the most important city in the famed ‘Northern Powerhouse’, Manchester has always attracted people for the vibrant business community it has. From small local businesses to global concerns, many workers move to Manchester to get jobs with them. There is no expectation that this should change in 2019 which makes investing in property these workers will want to buy or rent worth considering.
Prospects for 2019 look good for Manchester
Predicting what will happen in the future is always hard and Brexit does not make it any easier! However, the signs around the property investment market in Manchester look very positive. With a great 2018 under its belt and all the same attractive features for people to buy or rent in the city still in place, it would certainly suggest that investing in property here is a smart move.
Manchester has long been known as one of the best places to invest in property within the UK and it looks set to remain so in the coming 12 months. With plenty of culture, a vibrant city atmosphere and a lively nightlife, Manchester certainly attracts property buyers.