Manchester has been receiving a lot of attention lately for its booming property market. Property prices in Manchester have risen by an average of 9% over the past year, and continue to increase as interest in the city grows. So why are people investing in Manchester property? Here are three reasons.
- Manchester is a vibrant and growing city with a great cultural scene.
Manchester has long been a popular destination for property investors, and it’s easy to see why. The city is constantly growing and evolving, with new bars, restaurants and cultural venues popping up all the time. The property market is also very accessible, with a wide range of options to suit all budgets.
And, of course, Manchester is home to some of the best football teams in the country, which makes it a great place to live for any sports fan. Whether you’re looking for a city break or a permanent move, Manchester property is definitely worth considering. With its great location, vibrant atmosphere and growing property market, it’s an ideal choice for anyone looking to invest in UK property.
- The cost of living in Manchester is lower than other major cities like London and Edinburgh.
Manchester is a thriving city with a lot to offer its residents. From its lively music scene to its abundance of parks and green spaces, Manchester has something for everyone. But one of the best things about Manchester is its cost of living. Compared to other major cities like London and Edinburgh, Manchester is relatively affordable.
Rent and food prices are lower, and public transportation is reasonably priced. This means that you can enjoy all that Manchester has to offer without breaking the bank. So, if you’re looking for an affordable city with a lot to offer, Manchester is definitely worth considering.
- The rental yields on property in Manchester are high compared to other UK cities.
Manchester has been ranked as the UK city with the highest rental yields, according to a new study. The research, conducted by property website Zoopla, found that the average rental yield in Manchester is 5.4%, compared to the UK average of 4%.
This means that investors in Manchester can expect to earn a higher return on their investment than those in other parts of the country. The study also found that Leeds (5.2%), Birmingham (5.1%), and Glasgow (5%) are among the other cities with high rental yields. With housing costs rising across the UK, these findings offer some good news for investors looking to buy property in Manchester.
- Property market is booming.
Anyone who has been keeping an eye on the property market in Manchester will have seen prices skyrocket in recent years. As the graph shows, prices have increased substantially over the last five, 10, and 20 years, with increases of 42.90% between 2016 and 2021 alone.
The reasons for this price growth are numerous, but they include the city’s growing population, improved infrastructure, and increasing investment from both domestic and foreign buyers. With Manchester poised to become one of the UK’s leading cities, it is no surprise that property prices are on the rise. For those looking to invest in the city, now may be the time to do so before prices rise even further.