MANCHESTER SCORES HIGHLY FOR PROPERTY INVESTMENT

Manchester Scores Highly For Property Investment

Even though we think that Stockport is the finest place you can buy property in, at Spencer Harvey, we know that Greater Manchester has a lot going for it. We’re proud to be part of this wider area but we know that many people think that Manchester is the leading place in the whole of the United Kingdom. It appears GoCompare, the price comparison site who annoyed everyone with their singing adverts, are of the same opinion. In fact, GoCompare has stated that Manchester is the best city in the whole of the UK to invest in the real estate market.

This comes down to the expected rental yield on offer in major towns and cities and with a return of 5.55% on offer, Manchester came out on top. Following close behind were Leicester and Cardiff so that means now, Manchester is number one when it comes to rental yields at the same that one of the football teams in the city is looking down on the rest of the English game. It is certainly a heady time to be Mancunian!

Go compare Manchester with other cities

GoCompare studied several factors such as the rental price growth, average property price, housing supply and rental yields before reaching the conclusion that Manchester was the leading option in the country.

As you would expect, there will always be investors who consider the London market. the capital has a natural draw for many investors and while London can offer higher rents, the capital also carries much higher prices, which is why many people decide that Manchester is a better option for their needs.

Cities with strong student populations are in demand

Nottingham and Liverpool are two cites that have scored well in various property market reviews in recent times and these remain at the top of the list for many people looking to invest in property. Something that Nottingham has in common with Manchester is that there is a high student population, and this is something that many investors have an interest in.

Not every city received a positive score with respect to investing in rental property. Belfast was classed as an unsuitable option for investors. The price of property in Belfast is low, coming in at an average of £122,434; which is appealing but with expected yields of 3.77%, this isn’t going to get too many investors excited. Oxford also had a very low expected rental yield, providing investors with a return of just 3.61%.

At Spencer Harvey, we care about the local community and we are delighted to see Manchester so highly regarded. If you want to stay informed with what is happening here, you can 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-enqu



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