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Why Should You Invest in Manchester? 5 Reasons why Manchester makes a lucrative Investment

Posted by bigroarltd on February 28, 2022
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There is a shift in the property market as eyes turn to Manchester for investment and residential properties. With its credentials as the United Kingdom’s second-largest economic hub, the “Northern Powerhouse” garnering attention as an affordable alternative to London. For foreign investors, London was a secure option, but the market is pricing people out. Manchester is growing and well-priced, creating good conditions for investments. 

Government Commitment 

A turning point for the spike in growth for the North of England was the UK Government’s new commitment to aiding the development of the economy in the North. The aim: to create an area rivalling the markets displayed in London and the South; Manchester has been at the core of this plan. After the recession, major media companies moved from London to Manchester, another big turning point for the city. 

Boosting the local economy was the arrival of the BBC to Salford’s Media City. This move was mirrored by many others, such as Grenada and ITV, cementing Manchester as the country’s media hub. The increase in the city’s appeal brought young people, professionals, and businesses, contributing a further £300m per year to the local economy. 

Strong Rental Market 

Manchester has been recently named the city offering the strongest regional property investment potential by the National estate agency, Savills. Achieving rental yields of around 7.98 per cent, the demand for rental housing is high, making the city the perfect environment for landlords. Understandably, when compared with Newham- London’s highest-earning borough producing a figure averaging 5.2 per cent yield for landlords. With high occupancy rates in Manchester, around 27 per cent of housing is rented privately and is a popular choice for young professionals, creating a strong rental market. 

An international Gateway 

The UK’s largest airport outside of London is Manchester International Airport and set to receive a £1bn investment. The announcement made last year, projected to take place over the next decade: is doubling the size of the airport’s second terminal and the airport’s jobs to 40,000 in 30 years. Making this the largest construction happening in Greater Manchester, the airport can accommodate an additional 10 million passengers each year once the development plans are complete. With more than 20 million passengers per year, Manchester International Airport facilitates flights to more than 200 destinations with major cities such as Dubai and Hong Kong. 

Manchester is well-connected with various transport links via road, rail, and air. It centres the plans of the HS2 project (a high-speed railway), planning to create greater ease of travel linking the city to Leeds, Liverpool, Birmingham, and London. Already in place is Manchester’s Metro rail tram service allowing travel throughout the centre. The city’s five main stations link central Manchester to multiple locations throughout the rest of the country. 

Growing Population 

Over the past few decades, Manchester’s population has grown drasticacally with an immese growth rate of 16.7% in 2016. Most recently, there has been a surge or people feeling London and moving to property hotspots such as Manchester helping to increase population levels which has only increased with the onset of the pandemic. 

In addition to this, the student population holds a high retention rate of 60% and opens up a range of opportunties for property investors to capitilise on the growing population of Manchester. 

Continual Development 

Home to around 70 per cent of the UK’s FTSE 100 companies, it is widely anticipated that several other commercial companies will follow suit and relocate to Manchester as the BBC did. With a talent pool of young professionals, it’s an ideal and affordable environment for businesses to grow in. However, Manchester is still facing low housing, just like the rest of the UK. If the creation of new builds does not increase, there will be 1,500 more families than houses. Although, for property developers, this is a perfect time to create new homes since investment property is in high demand. 

Frustrated by high prices and low investment returns in the capital’s property market? Manchester could be the best choice for many, offering excellent property investment profits, rental yields, and affordable living. 

Outlined above are some of the key advantages to investing in such a lucrative and upcoming location such as Manchester. Our verified team at Big Roar are here to help you with all investment enquiries and doubts. For a chance to learn more about how you could invest in Manchester and benefit from the many advantages, please get in touch with a member of our team now by emailing: Marketing@big-roar.com or calling us directly on: +44(0)116 232 5129.  

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