Manchester’s property market is thriving and one of the most sought after and under supplied, meaning there is lots of opportunity for investors seeking to make their mark in one of the UK's most dynamic cities. The vibrant urban landscape combined with a booming economy and growing population also makes Manchester a compelling option for those looking to invest in property. In this blog, we explore the details of why investing in property in Manchester is a smart move, from its strong rental demand to its promising capital growth potential. Whether you're an experienced investor or considering investing in the market for the first time, join us as we discuss the prospering world of property investment in Manchester.
Manchester has one of the fastest growing city-centre economies in Europe and with young professionals and university students relocating from around the UK and all over the world, the population is increasing by twice the national average, which has resulted in the demand for rental properties in Manchester City Centre to be at a record high. According to the JLL Big Six Residential Report, Manchester is forecast to witness a staggering 19.3% surge in property prices by 2027 and has already increased by an average of 21.8% since the end of 2019, the UK’s highest! Urbanbubble also reported, in their quarterly insight, that average rents are up by 20.4% year-on-year.
Home to prestigious universities such as the University of Manchester and Manchester Metropolitan University, renowned football clubs like Manchester United and Manchester City, as well as an array of global corporations, including 80 out of the Top 100 FTSE companies, Manchester continues to allure a rising tide of young professionals, fuelling robust rental price growth as they flock to live and work in this lively northern hub. Manchester has attracted considerable investments across various sectors, including finance, technology, and creative industries. These investments have contributed to creating new jobs and expanding businesses, making Manchester a very appealing choice for property investors looking for long-term growth potential.
Known as the ‘Capital of the North’, Manchester has seen a magnitude of regeneration, global investment and prestigious projects transform the city in recent years. Ancoats, in particular, made a huge transformation and is now an extremely desirable place to live, it was even voted ‘one of the coolest neighbourhoods to live’ by TimeOut last year, and there are still more regeneration plans to improve the city even further.
The Ancoats Green project is underway and aims to create a sustainable and inclusive community by providing a mix of residential, commercial, and recreational spaces. The development includes the construction of new residential properties, ranging from apartments to townhouses, designed to accommodate the increasing population in Manchester and a diverse range of residents. Holt Town is another project in the planning process and has been labelled ‘one of Manchester’s most exciting regeneration prospects’, set to have the capacity for around 4,500 new homes with a vision to transform the area into a sustainable, digitally driven new town within the city. These development projects will contribute greatly to Manchester’s ongoing urban regeneration and be a significant opportunity for investors. By investing in regenerated areas, the potential for high returns for investors is huge, as the more desirable the area becomes, the more property values and rental income is likely to increase.
Northern Group take great pride in its integral role in the ongoing development of Ancoats. We have revitalised key landmarks and heritage buildings within the area while preserving their architectural charm, character and ensuring each project aligns with the community vision. We also contribute to Manchester’s property industry by managing properties to let and providing block management for developers, landlords and investors across Greater Manchester. If you are looking to invest in just one property, or are a seasoned investor, you can trust us to let and manage your property portfolio as we would our own. We have a proven track record of providing high-level service that keeps residents, landlords and investors happy.
In summary, it's evident that Manchester's infrastructure, residential offerings, transportation network, entertainment options, robust economy, and esteemed reputation are evolving at a remarkable pace, promising continued growth and prosperity. This rapid development solidifies Manchester's status as a prime destination for property investment, providing opportunities for investors to capitalise on a thriving and dynamic market. As the city continues to flourish and attract attention on both national and international scales, there is no better time for investors to utilise the potential of Manchester's expanding real estate landscape. With Northern Group's comprehensive landlord services and expert property management, investors can navigate this promising market with confidence and maximise their returns on investment.