Article Summary

Manchester is well-known to be one of the UK’s hotspots to invest in property. The fast-growing city’s resilient economy and booming demand has made it one of the best places to be a landlord.

And since the pandemic, the Greater Manchester areas of Salford and Trafford have become even more lucrative for investors, with house prices here rising by more than £70 per day.

Buoyant market

When the UK first went into lockdown with the outbreak of the coronavirus pandemic in 2020, there were fears from some property experts that it would cause the UK property market to crash. But what actually followed was a monumental rise in house prices across the country as people reassessed their living situations and the stamp duty holiday encouraged people to move homes.

Northern cities such as Manchester proved their property markets to be especially buoyant, with house prices rising faster than most of the UK. And since the outbreak of the pandemic, Zoopla has found that house prices in Salford and Trafford having risen by as much as £102 per day.

Salford

Salford is one of the country’s most up-and-coming areas to invest in property and is a popular place for property investments in Manchester. It is home to the employment hub of MediCityUK and is sought-after by both young professionals and students at one of Manchester’s many universities.

The Zoopla findings show that property prices in the M28 postcode of Salford, which includes Worsley, Little Hulton, Eccles, Tyldesley, Boothstown and Walkden, have grown by £55,000 since the start of lockdown. This equates to £70 per day, bringing average house prices here up to £271,000.

Trafford

Trafford is another Greater Manchester area that has proved itself very popular with both owner-occupiers and for property investments in Manchester. Earlier this year, it was reported the demand in Trafford was so high that houses here were selling in just 24 hours.

This demand has led to booming house prices, with properties in some postcodes growing by over £100 per day.

This is happening in the WA15 postcode, which covers Altrincham (east), Hale, Hale Barns and Timperley. Here, the average property price has increased by £102 per day, bringing house prices up to £493,000; a £81,000 increase.

Other highly performing postcodes in Trafford include WA14 (Altrincham (centre and west), Bowdon, Broadheath and Dunham Massey) with £96 per day price growth; M33 (Sale, Urmston and Carrington), with daily rises of £76; and M41 (Urmston, Davyhulme, Flixton, Trafford Park) with increases of £72 per day.

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. Individuals or organisations can invest in property, and the investments can be short, long or medium term.

Contact us

If you’re interested in investing in property and would like to find out more about property investments in Manchester or anywhere else, get in touch with North Property Group now.