Investors in buy-to-let Manchester property should seriously consider the area of Salford. Recent findings have revealed it to be the place with the biggest return on property investment in the north west.
Booming property prices
According to interior design magazine Homedit, Salford’s house prices have increased by an average of 47.6% over the last five years – 24% higher than the UK average. These findings follow a recent report that named Salford as the best place for buy-to-let investors in the entire UK.
Other popular buy-to-let Manchester areas also performed well, including Trafford which saw 43.8% property price growth over the past five years, Oldham with a 42.2% increase and Manchester itself with 38.9% growth.
Speaking of the findings, Homedit said: “The findings highlight that Salford could be on track to become a hotspot for buyers – especially those looking for an investment opportunity – as the results show that it has produced the highest return value in the northwest over the past five years.
“There has also been an influx of positive reports in relation to Salford’s property market according to other similar research.
“For example, Zoopla’s recent report stated that homes in Salford take just 27 days on average to sell, placing joint second in the country.
“Our new research very clearly explains why Salford may be an area to keep an eye on.”
There are a few reasons behind Salford’s climb to the top. The local property market has proved itself extremely resilient during the pandemic, meaning increasing numbers of savvy buy-to-let Manchester investors are setting their sights on Salford.
This resilience is in part down to Salford’s booming economy. In recent years increasing numbers of people and companies have relocated from London and the south east to take advantage of all Greater Manchester has to offer.
Young professionals in particular are choosing to live in Salford. The area’s great employment prospects – including those at MediaCityUK – easy links to the city centre and the fact it is fast becoming one of the trendiest areas in the region, are all drawing young people here.
These in turn increases rental yields and house prices, which also makes Salford a top choice for buy-to-let Manchester investors too.
To invest in a buy-to-let Manchester property in the area of Salford, get in touch with North Property Group and start your Salford investment journey today.
Link to May article 3 (not published on NPG website at the time of writing): Greater Manchester Properties are Selling in Under a Month