There is no lack of property investment opportunities in the UK, so why are so many investors are looking to Manchester? The answer is simply that the North, and Manchester in particular, are fantastic options for investors compared to other UK cities.
Why is Manchester attracting property investors?
Well, let’s start with the financial advantage. The cost of property is very attractive for any potential investor. Our current property on Queen Street is a fantastic example. With the price of apartments in this location currently starting at sub £170,000, Manchester compares very favourably with other city locations. For context, the price of a comparably located apartment in London is often 3 times that of this particular property. Which means your potential investment in a single apartment in London could give you multiple investment further north. With a rise in market value of almost 10% and steady growth in the past year, a rental investment in somewhere like our Queen Street opportunity is a very attractive option for the long, and short term, investor.
The truth is though that there will always be potential opportunities available for investors. The property market is thriving, and it is awash with possibilities. So, while a few moments of research will tell you Manchester is clearly a sound financial option as an investment, so are some other opportunities. So, what is it about Manchester that makes it such a desirable place for investors?
The Manchester property rental difference.
Homes are rented for lifestyle as much as price or convenience. The key to a good rental property investment therefore is to ensure it is in an area that is currently attractive to new tenants. Just as importantly, you want it to remain attractive and even become more so over time. This is where Manchester wins over other cities. When it comes to desirability it is a textbook example of great city living.
Employment potential is always a key factor for a property location. The low cost of being located here makes it one of the most attractive business settings in the UK. Manchester is now home to regional branches, and often the head offices, of some major brands such as Siemens, KPMG, Adidas and AstraZeneca. Continued overseas investment also makes up a significant part of the Manchester business landscape. With post Brexit concerns, the cost of locating in the capital and independence ambiguity in Scotland, European businesses are naturally eyeing the opportunities presented elsewhere. With uncertain times ahead, the sensible option for business seems likely to continue to be the more cost-effective option of the north. The city is actively encouraging growth and welcoming investment.
Air travel, train and road access are all exceptional and, of course, this will only become better with the advent of HS2 which is expected to boost the economy dramatically. With its existing infrastructure and continuing development opportunities, Manchester stands out as the destination of choice for business and that means more jobs and therefore the increased demand for homes for employees who fill those positions.
The ultimate in city living
As a place to live, Manchester is alive and buzzing with everything from cultural highlights such as the Whitworth gallery and Imperial War Museum through to a night life that is second to none. The music scene is known worldwide and as it carries the legacy of musicians such as Oasis, The Hollies and The Happy Mondays it’s no wonder that the city has a reputation for producing great talent. World class restaurants abound as do small, independent eateries. Award winning vegan kebabs now ply their wares in the same marketplace as traditional fish and chip shops and the street food is something that must be experienced. Street Markets, incredible shopping, new developments and not to mention the innovation of Salford Quays, are all on your doorstep. Sport is also part of the beating pulse of the ‘football town’ with some of the biggest stars playing at the world-famous Old Trafford.
It wouldn’t be fair to miss out one very important aspect of Manchester that makes it so desirable as a location. One often quoted downside of city life, and a reason regularly cited as to why so many people are leaving London, is the lack of green spaces. As fun as city living can be, we all need to get away from it all now and again. Walking out of the Queen Street development you are literally 30 minutes by car from some spectacular countryside and just over an hour or so by public transport to incredible spaces like the Pennines and the Peak District, as well as some traditional seaside towns. It is a cosmopolitan city practically in the countryside.
Manchester is also the new city of stars. The Media City development is the home of major broadcasters and has some of the most in-demand production facilities in the UK. Located on nearby Salford docs, it is the expanding home of the BBC and ITV as well as a busy tourist, leisure, and shopping destination.
With its ongoing employment opportunities for young professionals, a greed for more talent as it grows, continued investment and a vibrant and attractive city living space minutes from spectacular countryside, Manchester has far more to offer than a good investment opportunity. It has a legitimate claim to being the beating heart of a developing new economy. It is this that will encourage the continuation of the already buoyant rental and property sales market.
At the end of the day, yes, there are other locations with opportunities for your investment, but they are not the unique combination of financial advantage and living experience that is Manchester. It is that individuality that means your investment is in the right place.