Why Manchester offers investors such good value for money
Ask anyone what they know about Manchester, and you will hear answers such as:
- The top 2 football teams in Britain, and two of the biggest in the world just now – Manchester United and Manchester City
- Excellent shopping
- Good Universities
- A diverse mix of people
- A strong local economy
Manchester has a thriving city centre – and the economy has continued strongly through the recession across the UK.
The rental market has always been very strong with such a high number of students and young professionals – however demand is now higher than at any time in the last 5 years.
A recent article in the Manchester Evening News confirmed this - reporting that occupancy levels have reached 96 per cent – and demand is now so high that desperate flat-hunters are signing up to tenancies without even viewing their new homes for fear of missing out.
Harry Dhaliwal, director of Belvoir Lettings in Manchester, said: "We’re seeing a lot more people bidding against each other for rentals, pushing the prices higher and higher and it’s down to the limited availability." "We’re letting twice what we would normally let in February. I think it’s safe to say demand for rentals is better than ever."
Growing numbers of people are being forced to rent as it remains difficult to get a mortgage – and along with soaring petrol prices which make the commute to work expensive - the popularity of city centre living has increased.
High intakes of foreign students to the city’s universities and the influx of staff to the BBC’s new home at Media City have also pushed up demand. Media City is now fully developed with huge job creation around Salford Quays. Overall it is expected that 15,500 new jobs will be created in the local area with the BBC relocating and ITV moving its major operations to the area.
Manchester council leader, Sir Richard Leese, said the city could probably accommodate at least 1,000 new units of accommodation every year for the next 10 years and demand would still be there.
Thomas Bett, of Key Properties in the city centre, said rents had increased by up to 30 per cent in 12 months.
With rental in the City centre increasing to an unaffordable level people are looking for locations that are still within easy reach of the city centre but are in more affordable locations and still offering a high standard of finish.
If you’ve not seen our latest development in Manchester that’s less than 10 minutes from City centre click here to receive the full investment pack and availability!
Key Points
- Select number of two bed Luxury Apartments
- Buy to let opportunity
- Up to 30% discount from Developer Prices
- Prices from £77,000 for 2 beds
- Tenanted Options Available – No Voids from Day 1
- Off Plan Options
- Yields up to 9%
- Up to 75% LTV mortgages available
- Good discounts from market comparables!
- Only 4 units available
We sold out of our initial allocation but have managed to secure 4 more units - If you are keen to find out more, click here and we will send the full investment pack and availability.
