According to data from Hometrack, Manchester has the fastest house price growth than any other city in the UK rising to 8.8% over the last 12 months. Reports suggest that the demand for housing in the city is only going to increase as the population grows.
Here’s our top 6 reasons why you should be investing in Manchester:
1. The Northern Powerhouse
Benefiting from a recent £1bn investment as part of the Government’s Northern Powerhouse initiative, Manchester has positioned itself as an attractive and lucrative investment market. With an aim to boost the local economy, the government is investing in skills, innovation, transport and culture; making Manchester the most attractive city-centre investment market in Britain.
2. Transport infrastructure
Manchester has a world class, multi-modal, integrated transport infrastructure which provides connectivity across the wider North West region with direct access to the rest of the UK and the world.
The upcoming HS2 line will further cut the journey time between Manchester and London by an hour which means businesses can exploit the significant opportunities both within UK and the global market.
3. Booming economy
With more than 80 of the FTSE 100 having set up their presence in Manchester, some of the biggest companies in the world are now making Manchester city their home. This itself combined with the growth in financial services, engineering, media and technology sectors in addition to the £650m MediaCityUK Business hub, contributes to the Manchester property investment market that outperforms the rest of the UK.
4. High demand for buy to let accommodation
Greater Manchester’s population of 2.73 million people combined with its growing economy makes it the largest economic hub after the capital and draws an increasing number of young professionals. The demand for high quality housing in the city centre is thus higher than ever and many investors are speeding up to take advantage of Manchester’s growing population, low rates, capital growth and high rental yields.
5. Growing demographic of students and young professionals
A significant increase in the creative, art and digital sectors has led to an ever-growing demographic of students and professionals. With Manchester generating local jobs at an impressive rate and offering a more affordable lifestyle than London, the city has seen its graduate retention rate reach 70%. The young age demographic is another driving force in creating a supply of rental properties in Manchester which constitute 60% of the city centre’s housing stock.
6. Excellent Investment opportunity
Manchester is quickly securing its position as the strongest regional rental investment market in Britain, owing to its low rates, capital growth potential and strong rental yields. With JLL predicting house price growth of 28.2% between 2017 and 2021, the city is the new property investment hotspot especially for buy-to-let investors searching for an alternative and frustrated with London’s rising costs and shrinking yields.
Alliance Investments is offering an easy way to enter the Manchester market. With an impressive pipeline of luxury residential developments and student accommodation in the city centre, investors can choose from an array of properties with guaranteed rental yields, capital growth and higher returns.
For more information on our new build and off plan property developments in Manchester, please click here.