Why should you invest in the UK’s ‘Second City’ of Manchester?

Are you considering a UK buy to let property investment? Manchester is now leading the way as one of the most popular destinations in the world to source and secure a lucrative investment. Regeneration initiatives are rapidly changing the city’s skyline, transforming the city’s old glorified heritage into stylish, modern new builds, providing a diverse array of opportunities throughout the urban metropolis.

Experiencing a revival from an industrial graveyard to a thriving cosmopolitan district used for living, working and leisure, Manchester has quickly earned its reputation as the ‘second city’ in the UK after London, predicted to soar past the capital in the near future. Investors experience the hive of activity on Manchester’s buzzing streets, especially through the property sector.

Brimming with investment from regeneration schemes, a multitude of flagship projects has injected money into the city’s economy – Spinningfields is a £1.5 billion project which has been compared to London’s financial district Canary Wharf, MediaCityUK in Salford encompassing award winning digital and media corporations valued at over £1 billion, and NOMA, a heritage led project worth £800 million consisting of grade A office space, retailer and residential housing. Properties surrounding hotspot areas such as these can benefit from the biggest pull of tenants who are keen to take advantage of the burgeoning district.

Greater Manchester’s population is increasing exponentially, producing spikes in demand for residential accommodation. Undersupply of property is evident in certain areas across the city such as Deansgate, Castlefield and Ancoats which serves as great news for investors who can capitalise on the constant flow of tenants. Millennials are flooding to the area in order to relocate for work purposes, pushing up the demand for state of the art housing with premium facilities and amenities.

RW Invest property specialists have a diverse range of deluxe properties across Manchester offering tenants access to rooftop gardens, on site cinemas, gyms and more. Click here to view their full profile: https://www.rw-invest.com/manchester-property-investments/

Student property is amongst the most lucrative throughout Manchester as an excess of 85,000 students attend the University of Manchester, Manchester Metropolitan University plus the University of Salford. Similarly, there is a shortage of student property which fails to compete with the soaring student numbers in the area, underpinning investor’s strong desire to secure a robust investment with masses of tenant appeal.

Residential and student sectors across Manchester are some of the top performing sectors due to a number of factors helping properties achieve some of the best rental yields in the UK. Not only are these experiencing an all-time high, but developers place so much trust and confidence into the area that they assure the returns for several years. Luckily, Manchester’s yields are some of the most promising and come up above average when compared with other hotspots across the UK.

Price as well as yields provides a major attraction for the UK’s second city with lower initial costs compared to the capital of London, prices are set to increase as much as 20-25%, highlighting Manchester as a prominent city every discerning property investor should have in their portfolio.