Manchester Property Investment
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Should I invest in Manchester property?
Over the past twenty years, Manchester’s skyline has completely changed as regeneration took place. As the city regenerated, businesses and professionals decided to make Manchester their home, increasing demand for office space and housing.
The development of new housing has not kept pace with Manchester’s population growth, causing house prices to rise dramatically over the last five years. According to Land Registry data, over the last five years house prices in Manchester have risen over 35%. This is compared with a 22% rise in average house prices across England and Wales as a whole.
By 2025, Savills has predicted that prices in the Manchester area will increase by 28.8%, the most of any UK region.
So if you're wondering whether you should invest in Manchester property, the capital growth that can be achieved is just one reason why it could be a good idea.
Enquire now or read on to discover more reasons why you should consider a buy to let in Manchester and capitalise on the booming property market.
Manchester's Fundamentals for Investment
2.78 million people live in Greater Manchester, of which 1.78m are of working age (16 - 64). Between 2006 – 2016, the population of Greater Manchester grew by 7.7% (199,900).
Manchester Local Authority saw its population grow by 16.7% between 2006 – 2016, which is over double the UK growth rate over the same period of 7.9%.
Manchester’s popularity with the younger generation is driven by the sheer number of business opportunities available. Between 2002 and 2017 Manchester’s population grew from 440,221 to 555,610. Most age groups saw growth, but it was the 21 – 30 age group that rose the most – almost 51% in that time. This age group is most likely to be renting, and as such Manchester is poised to experience the highest rental growth of any UK city over the next five years, at 16.5%. This is great news for investors who are looking to buy property for high yields.
Young people find working in Manchester appealing not just because of the sectors available, but also because of the type of companies that have offices in Manchester. For example, online fashion retailer Boohoo is a popular brand with teenagers and young adults and is headquartered in Manchester.
Across the north west, Boohoo employs 3,208 people and has contribued £309m in GVA to the regional economy as of January 2021.
The Greater Manchester economy generates £57.8billion annually which accounts for 27.7% of the output in the Northwest of England. Approximately 1.27m people work in the Greater Manchester area in 91,590 businesses. Upon estimations of Manchester playing a leading role in the Northern Powerhouse, expected growth is estimated at 2.2% per year from 2015 – 2035. This is the equivalent of an extra £32.4bn in economic activity and would see Greater Manchester grow at a faster rate than the UK average.
Key sectors in Manchester include the financial and professional services, of which it is the largest centre outside of London, health and social care, and the digital sector.
Between June 2012 and June 2017 Greater Manchester attracted 390 investment projects which created 24,958 jobs.
Manchester is the most popular city (outside of London) for attracting foreign direct investment (FDI). It accounts for nearly half (45%) of all projects in the North West region, with the leading sectors being digital and business. The estimated number of jobs secured through investment in the North West region as a whole stands at 3,389, which is third highest of all regions within the UK.
In 2019 Manchester overtook Cambridge to be the UK’s second most attractive city for tech investment. It is reputed to be the fastest growing tech city in Europe, with investment reaching $687.6m in 2019, up from $199.1m in 2018. According to data from the ONS, there are around 100,000 people working in Manchester’s digital sector, and the city’s manufacturing roots has helped cultivate its emerging eCommerce industry.
Where there are more jobs there is greater demand and stronger rentals with less chance of vacancy periods.
Since undergoing extensive regeneration, many well known businesses have either moved their headquarters to Manchester or set up an office in the city to capitalise on more affordable rents compared to London.
Manchester is particularly attractive to those looking to work in professional services or the digital sector. In Spinningfields, RBS, Barclays, Bank of New York Mellon and PWC all have offices.
On the digital side, Microsoft, Google and Amazon have all recently made the move to Manchester.
It was recently announced that Amazon is looking to recruit 2,500 people to digital and commercial roles spread across its London, Manchester, Camvbridge and Edinburgh hubs. The strong performance of the digital sector has been fueled by the Coronavirus pandemic but sustained growth is expected for years to come.
Oxford Economics estimates that an additional 30,000 people will join Manchester’s digital and creative workforce over the next 15 years. Of course, they will all need somewhere to live which will buoy Manchester’s property market in the years to come.
Fundamentals such as a job market to rival London's without the hefty price tag makes Manchester an attractive place to live and it is why the city's population has grown so significantly over the years.
A growing population, a thriving jobs market and a promising economic outlook has fuelled house prices. Enquire now to discover why these fundamentals can influence capital growth that can be achieved and why you should be considering buying property in Manchester today.
- Savills have predicted that rent prices will grow 28.8% by 2025 in Manchester
- Opportunity for investors to achieve capital growth if the right investment is made
- Enquire today to discover lucrative property investment opportunities in Manchester and the Greater Manchester region
- Capitalise on the projected growth today whilst the Manchester property market is booming by getting in touch today and taking your first step into property investment
- Take your first step and enquire today to achieve your financial goals through investing in property.
- You will be matched with a personal investment consultant who will note your requirements and provide exlusive insight into the Manchester property market including where the best places to invest are.
- We have Manchester investment properties to suit all budgets and purchasing timelines.
- Including off-plan developments in Manchester with payment plans and properties that just require a 25% - 35% mortgage.
- Our investment consultants will present you with handpicked investment opportunities in Manchester depending on your requirements
- Enquire today to learn more about Manchester as a place to invest in property and how you can get started to achieve capital growth today
- Find out why informed investors are choosing Manchester over any other city to invest in
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If you are considering buying investment property, it starts with a conversation. If we understand what you are looking for we are in a better position to help you achieve your goals and save you time by recommending the most suitable property.
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