Article Summary

It is well-reported that more and more people are moving away from London to the north to take advantage of the booming job prospects and better quality of life cities like Manchester can offer. But what about people working in the capital who don’t want to leave their jobs?

The rise in hybrid working has created the option for people to keep their London jobs but live in Manchester. And according to the Manchester Evening News, there are growing numbers of London professionals choosing to do just that.

Benefits of Manchester living

As well as hybrid working opportunities, the excellent train service to London is encouraging many people to move to Manchester city centre while still working in the capital. As one commuter named Joe who spoke to the Manchester Evening News said, “I’ve had colleagues who’ve ended up moving out to deepest darkest Essex because they could afford something at the end of the central line.

“But it’ll take them an hour and a half to get into the office. It only takes me two hours from [Manchester] Piccadilly and I live five minutes from there.”

People like Joe are also discovering the better quality of life they can have in Manchester. Renting a buy to let in Manchester is much cheaper than doing the same in London, and properties tend to be of a better standard, resulting in increased tenant retention for Manchester landlords.

Growing city centre population

This rise in people moving to Manchester is predicted to boost the city centre’s population, making it a good place to invest in property. In 2019, Manchester city centre’s population was estimated to be over 65,000 people. By 2026, it is predicted to be 100,000 – that’s a 54% growth in 7 years.

And with increasing numbers of professional, potentially wealthier people moving north, demand for good quality buy to lets in Manchester city centre will likely also surge. This will have a positive impact on rents and capital growth for those who have invested in property there.

Hybrid lifestyles

The growing popularity of working in London but living in Manchester has also been noticed by the city’s property professionals. Adam Higgins, co-founder at social impact developers Capital & Centric told the Manchester Evening News that this kind of lifestyle is not only now completely possible, it is gaining popularity too.

“With remote working now the norm, it’s totally feasible to live in Manchester and work from London,” he said. 

“We’re seeing a real mix of people moving up.

“Some are from the North West and are moving back home, others were born down South and are astonished at what they can get for their money.

“And it’s not just people moving from London, we’ve got residents from Los Angeles, Mexico, Italy, Spain and even New Zealand!”

What is property investment?

Put simply, property investment is property purchased with the intention of generating financial returns for its buyer. These returns could be in the form of rental income through buy-to-let properties, house price growth through the future sale of the property or both property investments can be owned by individuals or organisations and can be short, long or medium term.

Get in touch

Take advantage of the high demand before property prices rise even further. Contact North Property Group now and invest in Manchester property today.