- House prices are rising at some of the highest rates in the country and there is huge demand for buy to lets in the Manchester region – from both tenants and investors.
- The city centre has boomed thanks to huge levels of economic investment, a thriving jobs market and an excellent graduate retention rate.
- Trafford’s property market performed exceptionally well in 2021. Last year, houses were selling within 24 hours of going on the market and prices had risen by almost £34,000 in just 12 months.
Greater Manchester’s property in market is booming. House prices are rising at some of the highest rates in the country and there is huge demand for buy to lets in the Manchester region – from both tenants and investors.
This part of the north west is one of the current hotspots to invest in property. But Greater Manchester is made up of many different areas – each with its own benefits of making a property investment there.
To make the decision of where to purchase a buy to let in Greater Manchester, here is our pick of the three best places for property investment in the region.
Manchester itself is always a firm favourite with property investors. The city centre has boomed thanks to huge levels of economic investment, a thriving jobs market and an excellent graduate retention rate. This had led to rents for buy to lets in Manchester increasing by almost 10% following the coronavirus pandemic.
Other parts of the city have undergone excellent house price growth too. In Ardwick, the average property price has risen by £31,682 since December 2021 and now stands at £234,978. Likewise, in Collyhurst and Harpurhey the average property price has gone up by a respective £27,500 and £26,756 since the end of 2021.
Another part of Greater Manchester that has undergone huge levels of economic investment is Salford. Now forming the north’s – and arguably the UK’s – media heartland, Salford is a hugely popular place to invest in property.
This demand is reflected by the large amount of build to rent developments currently underway in Salford. These are much-needed to help deliver the large number of buy to let opportunities this part of Manchester requires.
And fortunes certainly aren’t fading for this part of Greater Manchester. Bowdon in Trafford has seen the biggest house prices across the entire region in recent months. since December 2021, the average property price in Bowdon has grown by a massive £63,369.
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 and can invest in property and these investments can be short, long or medium term.
Get in touch
Take advantage of the booming rental demand and find out how to make a Leeds property investment or where to buy an investment property elsewhere in the UK. Book a free consultation with North Property Group today to learn more.
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