Investing In Manchester Property – All The Facts And Stats
We all know about London property.
It’s one of the most value-for-money property hotspots in the world right now.
Savvy property investors are flocking to London in droves, as it provides a secure option to safeguard and grow their money during this uncertain period.
But somewhat flying underneath the radar, is a “distant cousin” of London: Manchester.
As one of the fastest growing cities in the UK, Manchester property offers a more affordable investment option, with equally high potential in terms of returns.
So let’s take a closer look at the facts and stats of a Manchester property investment.
From 2018 to 2021, employment rate in Manchester will grow by 1.2%. That’s among the highest in the UK.
Manchester’s strong economic performance is reflected by a Gross Value Added (GVA) percentage of 2.2%, the second highest after the south east of UK.
The number of residents in the Manchester City Centre will grow to 100,000 by 2025, a 35,000 increase from 2019.
A number of major organizations have set up headquarters in Manchester, including BBC, TalkTalk (telecommunications conglomerate), Bupa (healthcare group) and Amazon.
So what do all these facts and stats mean?
In terms of the property market, these developments will no doubt lead to a steady increase in prices over the coming years.
The population increase will also result in more housing demand, giving investors the chance to profit from the rental market.
This uptrend is reflected in a recent study, which shows that the sales point growth and rental price growth in Manchester will surge to 17.1% and 16.5% respectively; the highest growth in the UK.
Greater Manchester has one of the largest student populations in Europe.
There are around 100,000 students studying in higher education institutions in Manchester, with another 400,000 within an hour’s drive of the area.
Traditionally, most students return to their home cities after completing their studies.
However, the relatively affordable rental rates and the increasing number of reputable organizations setting up shop in the area, has led to many students staying behind to forge their careers after graduation.
This young and vibrant workforce is driving Manchester’s economy to new heights. And the property market is booming as a result.
After looking at Manchester’s impressive numbers, one thing is clear: There’s a limited window of opportunity to invest profitably in Manchester property.
And there’s no better time than now to do so.
While the majority of investors are focused on London property, Manchester is quietly staking its claim as the UK’s premier property location.
It certainly has the potential to claim the property crown in the next few years. For now though, Manchester property is still considered “undervalued”.
One last stat for you: The average price of a Manchester property right now is around £178,000.
Within the next 5 years, this is expected to increase by at least 21.6% (around £38,000).
Which is why as mentioned above, now is the best time to invest in a high-gain Manchester property, and make a handsome profit from either capital appreciation or rental yield!
There are still a few other important factors that will impact the future of Manchester property, such as the world-renowned football culture in the city, and the Chinese influence on the market.
If you like to get more info on those key factors, or to find out more about how to invest in Manchester property, fill in your details below and we’ll back to you shortly!
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