If you are looking for a property in the UK to purchase, Manchester apartments are worth considering. The city has experienced rapid growth in recent years and is expected to see more over the next decade. This means there will be plenty of demand for housing units, but it also means that prices will continue to rise. If you want to get in before this happens, now might be the best time ever.
Manchester is a lovely place to live year-round, but during the fall and winter months it’s even more beautiful. With the leaves changing colours, holiday lights twinkling in shop windows, and chilly days that are perfect for curling up with a good book by the fireplace – what could be better? For those of us who love Manchester so much we want to move here, investing in an apartment might seem like a great idea.
Here are some key reasons why people choose to invest in Manchester apartments these days:
- Higher rental returns.
If you are looking for a more affordable property in the UK, buy-to-let Manchester seems like an excellent choice.
Manchester offers some of the more affordable and higher-yielding properties on this side of England. Based on data from June 2021, buy to let Manchester prices are about £206,574 which places them above Liverpool but still considerably less expensive than average UK house values at just over half their cost level (£150k).
It is clear that Manchester offers a higher rental yield than other UK cities. For those who are looking to invest in property, the 7% rate of return makes it worth their while considering this area as an option when compared with other locations around England and Wales where values can be similar but yields lower at 5%.
- Consistently strong house price growth.
Property prices in Manchester have grown by an average of 19.21% over the last 12 months, increasing 362% since 2001- with one year seeing growth almost 50 times higher than another.
Because there’s no sign so far that this upward trend will be slowing any time soon; experts predict more people may need to move out before they’re priced out due their homes becoming too expensive for them affordably.
The future of property prices in Manchester has never looked brighter. The recent growth rates are among the highest across all UK cities, and even during times when others were experiencing economic turmoil such as 2007-2008 or the Covid-19 pandemic, there was still an increase for those looking to buy their dream home here.
- Demand for housing continues to increase.
The UK is currently experiencing an overwhelming demand for rental properties. This has been seen throughout the buy-to-let property market in Manchester which reached new heights in 2021 with an average number of days on housing for sale record lows at just one week, according to a property management study by Rightmove.
With such high rates of interest in the market by prospective renters or buyers alike, there’s no shortage of people looking for homes to rent in Manchester.
The population of Greater Manchester has grown by 7%. This level of growth is double that which occurs nationwide and almost twice as much as it did 30 years ago when there were 1 million more people living within its borders. The city itself also saw significant increases with 27% higher numbers than before; meaning they need even more homes for the booming population.