Manchester is the 3rd biggest city in the UK but has the biggest city-living demand outside of London. In fact, the Manchester property market had the largest increase in average house prices in the whole of the UK last year.
If you are considering buying property in Manchester, our guide will show you where the best places to live in Manchester are and why invest in Manchester property in 2021.
Why Invest In Manchester Property
Manchester is a growing city, both in industry and in population. It is quickly becoming the place to be outside London for young professionals and growing families.
That’s because it has:
Getting to and from Manchester is easy with good train links from Piccadilly and Oxford Road stations. You can be in London in 2h12mins or Edinburgh in 3h39mins with trains leaving every hour if not more frequently. And the Metrolink makes traveling around Manchester quick and cheap.
Affordable Property Prices
The average price for a property in Manchester is now £217,831, which makes it below the UK average of £256,000. In some areas, you can expect to buy a flat in the region of £180,497 or a terraced house for not much more, £192,622.
Investment In Industry
With its affordable living and great transport links, companies are investing their time and resources into this growing city. Manchester is now one of the best tech cities in Europe, with investment from companies like BBC, ITV, and others.
Where To Buy Property In Manchester: Best Places to Invest
The City of Manchester isn’t the only place that you can and should invest in Manchester property. Greater Manchester also benefits from even more affordable house prices and good transport links into the city center. There are 4 regions that are popular with residents and investors:
Manchester City Centre
The City of Manchester is growing quickly with companies, like Amazon and Auto Trader, opening offices and providing jobs. It is also home to 5 universities, with somewhere in the region of 110,000 students. This makes property in the city center in high demand and you can expect a 5% yield for property in the M1 postcode.
Salford is the next region to the City of Manchester and has experienced a lot of investment in the last few years. It is now the media hub of the North, with studios for BBC, dock10, and ITV as well as the HQ for Kelloggs. Despite this though, properties in Salford can be 10% cheaper than the city center, while returning up to 6% yield.
Just south of the City of Manchester is Stockport. It is a prime commuter location with good Metrolinks and buses into the center. This does make the area one of the more expensive areas of Manchester, but yields are usually 4% for investors. There is a regeneration program planned for Stockport to create a 3,500-home urban village.
On the edge of Greater Manchester, almost in Cheshire, is the area of Trafford. It hosts Manchester United’s football ground and the famous Trafford Centre shopping mall, with good motorway links and bus links in and out of the region. Its proximity to Cheshire does mean that Trafford has some of the most expensive property prices in Manchester. Altrincham and Sale with slightly lower yields of 3%.
Should I Invest In Manchester Property?
Considering that Greater Manchester, particularly the city center, has the largest growth and industry investment outside of London, investing in Manchester property in 2021 appears to be a good investment. It has a growing population of 2.7million people who need affordable places to live.
Greater Manchester also has a range of properties and areas, making it a good choice for homeowners and renters to find the perfect property within commuting distance while offering easy access to green spaces, good schools, and entertainment.
Find Manchester Property To Buy
If you are ready to invest in Manchester property, start your search now with Spot Blue.