Why now is the time to invest in Manchester

Manchester has been a popular city in the UK for many years, and this is only set to grow as the city continues to develop. In this blog, we’re letting you know why now is the time to invest in Manchester.

Property investment can have positive returns when done correctly and properties are carefully considered. Having an investment property can be made much easier with the help of a professional property investment company.

Manchester City Centre, North West

Manchester has long been known as the Northern Powerhouse and is popular with people of all ages. Many young people visit the city for university and end up staying, and many families reside in the city's outskirts.

When you think of investing in the UK, your mind might go straight to London, but this might not be the most effective investment in recent years. Investors in London may be able to charge higher rents, but they also need more money to invest initially. More people working in London are now choosing to live outside of the city and commute in, meaning that demand is also dropping.

Manchester has high rental demand and offers some impressive rental yields in various areas of the city.

What’s the average house price in Manchester?

Currently, the average house price in Manchester is around £250,000. This has seen a steady increase over the last few years. Factors such as the location, size of the home and current housing market will affect the cost.

Keep an eye on the average property prices and the UK property market. The Manchester property market is exciting and features a range of properties.

What’s the average rental yield in Manchester?

Manchester is a relatively large city, which means that rental yields vary quite a lot based on where you choose to invest. On average, investors can expect a rental yield of between 5% and 9%. This is a fantastic yield to work with.

Which property types are the most popular for Manchester investment?

All property types are popular in Manchester, which is great for investors. Student properties are also a great option, as Manchester is home to five universities: The University of Manchester, Manchester Metropolitan University, University of Salford, University of Bolton and the University Academy 92.

Student property investment is usually very affordable and has a great rental yield. Young professionals are also likely to stay in Manchester's residential market following education, which is another benefit for property investors. Read more about the landlord lettings process.

Why should I invest in investment properties in Manchester?

Rental property prices & growth

As we mentioned before, house prices in Manchester have increased in recent years, and this provides fantastic opportunities for investors as it can lead to even bigger returns on your investment.

The growth of property values is not set to slow down any time soon, so now is the perfect time to invest and reap the benefits of future growth and capital appreciation.

Manchester also has a fantastic GVA (Gross Value Added) and is second in the standings after London.

Increased population

The population in Manchester is set to grow significantly in the next few years. Since 2023, there has been a 0.75% increase in population.

With more people choosing to reside in the city, more homes will be needed. You have the chance to invest now and experience the fantastic rental demand of the area.

Many investments have been made in Manchester, so more homes and apartments are available, and this is set to continue, albeit at a slightly slower rate.

City development

Manchester has experienced significant development in recent years, which only makes the city more appealing. Part of these developments have involved Manchester Airport's expansion, new offices and public spaces, and better connections within the Metro service.

These are all improvements that can help to increase tenant demand, which means you shouldn’t be waiting very long for tenants to enquire and move in, especially with fantastic property management in Manchester. You can also keep an eye out for new developments for buy-to-let properties.

Increased employment opportunities

More employment opportunities often come naturally following city development, and Manchester is no different. Many industries thrive in the area, and there is an employment rate of 72%, which is great.

More employment opportunities are sure to boost rental demand. This, along with the advantages of Manchester being an affordable place to live, can drive people of all ages to move to the city.

Manchester as a city

In addition to everything we’ve already mentioned, Manchester is well-known as a fantastic place to live. It has a great football, music and hobby scene! It is an exciting city where there is always something to explore or enjoy.

Manchester City Centre is home to many restaurants and bars and has great nightlife. It is also popular for art and theatre productions.

This area is also close to other impressive places, such as Salford Quays and the Peak District. Excellent transport links make travelling around the country easy for your tenants. It is definitely in the top 10 best places to invest in the UK.

Are you planning to invest in Manchester? Then, you’ll want to speak to our specialist team at Parello.

Contact us for seamless property investment in Manchester. We cover all aspects of property management so that you can sit back and reap the benefits. Now is definitely the time to invest in Manchester.

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