Manchester is one of the most exciting places to live and work today, with many young professionals flocking to the city for excellent employment prospects. Experiencing the fastest growth outside the capital and leading the way in property investment, Manchester has a very promising future ahead.
The city’s population continues to grow at an incredible pace, benefitting from the rise of people leaving London for a more affordable lifestyle. Today, Manchester is considered one of the UK’s top rental hotspot with house prices increasing at a rapid pace. Buy to let properties in Manchester are in huge demand and have some of the highest occupancy rates in the UK.
Here are some of the key features of Manchester that make it one of the most desirable locations to both live and invest in:
Life and Culture
It’s clear to see why Manchester is one of the most popular places to live in the UK. The city centre is filled with an abundance of things to do. One of the most popular activities in the city is visiting bars and eateries, with areas such as the Northern Quarter and Spinningfields being favourites among the locals. If eating out isn’t for you, Manchester is also home to some of the best shopping experiences. With the Spinningfields area and the Arndale in the centre as well as the Lowry Mall and Trafford Centre on the outskirts of the city, residents have access to a large selection of high-street stores for all of their shopping needs.
Another one of the most recognisable features of Manchester is the football. Manchester is home to two of the world’s most renowned football teams – Manchester United and Manchester City. For years the two teams have seen massive global success between them, with both being crowned Premier League champions and the former even winning Europe’s most esteemed competition in the past – the Champions League. The people of Manchester can visit either team’s famous stadium for a great day out to take in game of football.
Manchester is one of the proudest cities in the world. Inhabitants are proud to be from the city, and it’s clear to see the city’s rich culture running through the people. One of the key features in the city’s history that still plays a massive part today is the music. Manchester has always been one of the world’s leading cities when it comes to the music industry. Artists such as The Smiths, The Stone Roses and Oasis have all made their mark on the music scene throughout the years, paving the way for modern Manchester bands like The Courteeners, Blossoms and The 1975 to continue the legacy. This rich musical culture in the city means that Manchester is home to a large number of music venues. You can catch a gig all year round at the Academy, the O2 Ritz and many other smaller venues, or visit the Manchester Arena for some of the world’s most popular artists.
Northern Economic Hub
Manchester benefits from being located in the north of the UK. Cities in the North West are amongst the fastest improving cities in the UK, and Manchester is the pinnacle of them. In a recent index by professional services firm PricewaterhouseCoopers (PwS) it was found that for factors including jobs, income, skills, health, housing, transport, work-life balance, business start-ups, environment and income distribution, cities in the North West have shown the most improvement throughout the whole of the UK. Manchester itself featured in the top 10 most improved cities alongside fellow Northerners Liverpool, improving its index score by an extremely impressive 0.64.
Property Market
Manchester boasts one of the UK’s busiest housing markets, and that’s extremely prevalent in the buy-to-let industry. Property prices have grown by a massive 22.09% since 2014 and rental yields have remained consistently strong throughout.
The appeal of Manchester for buy to let investors should come as no surprise – the city has seen a huge amount of regeneration and investment, transforming its skyline to a fantastic mix of modern and classic architecture and giving the city a new lease of life. The city region has continued to attract a number of large corporations and has made a name for itself in the digital and tech sector – which contributes around £4.1bn to Manchester’s regional economy. This has resulted in an influx of people moving to Manchester, looking to take advantage of the wealth of opportunities.
Manchester is one of the most exciting cities in the world and shows no sign of slowing down anytime soon. Are you interested in investing? Click here to take a look at our tenanted, income-generating properties in Manchester today!
