Given Stockport is located close to Manchester, there is often a link between the two areas. As much as Stockport is developing at a rapid rate, and becoming an integral town in its own right, the link to Manchester is essential. Being able to arrive in one of the leading cities in the UK after a minimal commute makes Stockport appealing to many people.
There is a high demand for Manchester property, and there will always be a prominent level of demand for a rental property in the heart of Manchester. Young professionals are keen to be close to where the action is, and with new property developments in the centre of Manchester, it is easy to see why people are snapping up these rental options.
Know your Stockport and Manchester property and rental prices
According to Zoopla, the average price paid for a property in Manchester, in the past 12 months is, £196,332. The average asking rent for a one-bedroom property in Manchester is £612 per calendar month (pcm) while for a two-bedroom property, the average asking rent is £978 pcm.
However, when you focus in on the M1 postcode area, the average price paid for a property in the past 12 months stands at £211,222. The relative asking rents also rise, reaching £838 pcm for a one-bedroom property and £1,197 pcm for a two-bedroom property in the M1 postcode area.
There is, therefore, a significant jump for property, and rental property, in the heart of Manchester. This forces many young professionals out of the heart of the city, and Stockport is an area that appeals. The commute from Stockport to the heart of Manchester city centre is as quick and easy, if not easier, than many places in Manchester.
Stockport is ideal for landlords and tenants
Anyone looking to find affordable rents will find Stockport to be of better value than Manchester, and the city centre. The asking price for a one-bedroom property in Stockport is £528 pcm, and for a two-bedroom property, the asking rental price is £689 pcm.
For those that know Stockport, the charm of the town is evident, and people will want to live there. However, for those drawn to Manchester, but finding the rental prices to be challenging, Stockport offers a fantastic solution. What is on offer is changing considerably in Stockport, providing more for young tenants, who don’t need to go into Manchester every time they want a night out.
If you are looking to buy property to let, knowing that demand is high with the right sort of tenant is likely to be of interest. Given the rampaging prices and costs of living in London, it is no wonder that tenants and landlords have moved further north. Manchester will always appeal, but a smarter move can be made by heading out of Manchester and focusing on 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