The former mining town of Swinton in Salford is looking likely to become one of the coolest areas of Greater Manchester. Following a wave of new independent shops being opened, property demand is on the rise. This makes Swinton a place for buy-to-let property in the Manchester region to keep an eye on over the next few months.
An influx of younger residents is helping Swinton become the trendiest part of Salford. What was once known for coal mining, mills, rugby league and LS Lowry is now home to one of the fastest-growing independent scenes in Greater Manchester.
The Manchester region has already proved itself to be one of the best places of startups. And Swinton is no exception. Recently a wealth of independent bars, eateries and retail outlets have set up shop in this Manchester suburb. Despite the ongoing challenges of the coronavirus pandemic.
And with easy access to top employers in Manchester and the centre of Salford, many families and young professionals have moved to Swinton to take advantage of the cheaper properties here. Increasing demand from such renters means Swinton could be an exciting opportunity for buy-to-let property investors in the Manchester region.
Doubling property prices
Swinton’s growing reputation as a hipster hotspot is having a very positive impact on its property market. Not only is it growing in popularity for buy-to-let property in Greater Manchester, but house prices have skyrocketed.
Louis Percival of Swinton-based Keenans Estate Agents, has seen house prices almost double over the past seven years. He said that the increase had been “a long time coming”. And he went on to say that “It’s been brewing and coming together the last two years and since the pandemic, everything’s just gone boom…Other Manchester areas are still rising in price but not as quick as Swinton.”
Percival attributes changing residential needs during the pandemic for some of Swinton’s success. “People in apartments want a drive and property, and Swinton is up there with the best value,” he said.
It is not only Swinton that is a hotspot for buy-to-let property in Greater Manchester. Salford and Manchester have seen some of the country’s strongest bounce-backs following the pandemic. Property prices in Manchester are set to spike in 2021. And Salford was recently named the most profitable place to be a landlord in the UK.
If you’re interested in investing in a buy-to-let property in Manchester or Salford, get in touch with North Property Group today.