Why North Manchester is Ideal for Buy to Let Investment
With rental values and property prices on the rise, there is no better time to consider a buy to let investment. North Manchester provides some great long term investment opportunities.
Manchester Tech Boom
It only takes a quick glance at the Manchester skyline to see that the city is thriving. With so many new developments taking place throughout the city, it’s clear to see that there is great demand for properties in the region. Manchester is experiencing a major tech boom which has seen a steep rise in employment opportunities. With so many new startups establishing themselves in the city as well as the growth of many existing businesses, property is highly sought after. Rental values are also on the increase making the city attractive to investors.
Salford in particular has seen a significant rise in property value. Salford is one of the most attractive areas for buy to let investment, largely due to the success of MediaCity. The relocation of the BBC to the City of Salford is one of the reasons why property is in such high demand, making the area a popular buy to let hotspot. MediaCity is a booming tech hub, home to a number of growing businesses. With such substantial economic growth and job opportunities, property in Salford provides a great long term investment. Manchester is one of the main Northern Powerhouse cities, highlighting just how much growth potential the city has. Property values along with rental income potential are expected to rise further throughout the city.
Buy to Let in North Manchester
If you are looking for a Buy to Let opportunity, North Manchester is great place to invest. With property prices often lower than in the south of the city, rental prices remain similar, giving you a higher percentage yield in the north of the city.
Many areas are seeing a rise in the number of new bars and restaurants opening, as well as regeneration projects in the area. Prestwich and Whitefield in particular have seen a rise in the number of new places to eat out and socialise, reminiscent of areas such as Didsbury and Chorlton.
Prestwich property and rental values are on the rise due to increased demand, making the area particularly popular for buy to let investment. Bury house prices are also rising, as are many other areas in the north of the city. North Manchester provides great transport links to both Manchester City Centre and to Bury and with so many great schools in the region, North Manchester provides great investment potential.
Both North and South Manchester provide great investment opportunities, but with property prices lower in the north of the city, there is more profit to be made in North Manchester. This heatmap on the Zoopla website highlights the difference in property prices between the North and the South of the city. Rental values in both the North and South of the city are not too far apart, making North Manchester the ideal place to invest.