A survey of 800 UK landlords, undertaken by a landlord insurance provider, has revealed Manchester is a leading city where landlords expect the buy-to-let market to be robust this year. Manchester and London polled more than one-third of the votes when landlords were asked which city offers the finest investment opportunity.
Manchester and London were listed as being joint first in the poll while Liverpool and Birmingham were classed as joint second. Edinburgh came third, Bristol fourth, Leeds was fifth, Oxford ranked sixth and Glasgow was voted seventh.
More investors are heading north
These findings indicate there is a growing awareness of what the North of England, and Great Britain, can offer in the lettings market.
Bea Montoya is the Chief Operating Officer at Simply Business, the company who conducted the survey, and she said; “Buy-to-let landlords are crucial to the UK economy, contributing a combined £16.1 billion through pre-tax spending. The sector also now houses 20% of British households and has a huge presence up and down the country, so it’s wholly encouraging that landlords view a broad spread of regions as attractive areas to invest this year.
There is more to UK life than London
While London still came out on top, and there are probably people who are scared to vote for anything but London, there is a growing realisation that better value for money can be found. With many landlords finding the industry challenging, making an informed decision about costs is crucial for all in the rental sector. We are pleased to say we can offer advice on this matter, or any other aspect of the letting industry.
Bea continued by saying; “London usually comes out on top for being the most expensive city to invest in property in the UK, but falling house prices are making it an attractive place to invest once again. We know a quarter of landlords are planning to sell at least one property this year, largely due to government reform and tax changes, so it’s reassuring to see that landlords are still eying up investment opportunities up and down the country.”
We operate in Greater Manchester, specialising in and around Stockport. The Manchester rental market has a lot to offer, but Stockport has a great deal on offer too. Anyone looking for a rental opportunity outside the main heart of Manchester will appreciate what Stockport has to offer.
With convenient transport links to the centre of Manchester, and significant developments taking place, Stockport is the ideal place to buy, live or invest. As Stockport property specialists, we want to ensure you stay in touch with the latest property news. If you are looking for assistance in this area, give Spencer Harvey a call on 0161 480 8888 or send us an email at info@spencerharvey.co.uk. For a free valuation please visit: https://www.spencerharvey.co.uk/valuation-enquiry.html