In a recent Property Hub podcast, we discussed how Manchester is becoming “the London of the North”. The fastest-growing city outside our capital hosts some of the UK’s largest regeneration projects, spearheaded by the media-powered Salford Quays complex and digital-oriented Northern Quarter. As the epicentre of a thriving metropolitan area, Manchester is clearly one of the best cities to invest in property in the UK. There are ten Greater Manchester districts in total, though we’re focusing on the city itself.
This is a good time for property investment in Manchester, with high ROIs in places like Fallowfield, Salford and Chorlton. Prices are rising rapidly, yet yields still average twice those on offer in London. Around 30 per cent of Manchester’s housing stock is in the private rented sector, with a six-figure student population underpinning demand for HMOs and flats. Manchester is renowned for red-brick terraces and semis, though belated attempts are being made to increase urban apartment volumes, as has already happened in Glasgow and Cardiff.