Manchester is the UK’s number one buy to let property investment hotspot – as an investor, you are likely aware by now of the city’s growing house prices and rents, its booming population and its economic strength.
Extensive public and private investment into the city has transformed Manchester into a true 21st century global destination. It is Europe’s fastest growing technology hub, with big names such as Google, Amazon, the BBC and Microsoft in the city, and investment into the sector increasing by 277% in just one year.
The city centre population is increasing by 5,000 a year according to Council estimates, and there is a serious lack of housing to provide for all these people – particularly high end luxury homes, which are seeing demand increase year on year. The latest Deloitte Crane Survey shows that completions and new starts in Manchester were at an all time high in 2020, but even that level of construction isn’t enough to meet demand. Consequently, property prices and rents continue to rise faster than almost anywhere else in the country and, in particular, far more rapidly than in London.
So, it’s clear why you should invest in Manchester property, but the question is where can you find the best buy to let hotspots in the city? We’ve picked out a selection of areas that are reliable choices to maximise your future earnings…
The area surrounding Piccadilly Station, and up to the border of Ancoats, is one of the most significant regeneration sites in Manchester. Whether you consider the works at Mayfield Depot, the potential of the Central Retail Park site or the upcoming HS2 station, there are billions of pounds being invested here.
This is set to be Manchester’s most in-demand up and coming neighbourhood in the near future, and interest from young professionals looking to live here is already growing fast – pushing up housing costs and rental prices.
Voted one of the coolest neighbourhoods in the world by Timeout, Ancoats is a modern success story of sensitive, intelligent regeneration that is incredibly popular with residents.
From post-industrial neglect to becoming the modern renter’s location of choice seemingly overnight, Ancoats has a vibrant, youthful feeling that is all its own in the city centre. You can find a great range of independent bars, restaurants and cafes tucked away here, as well as the Halle – a world class orchestra venue.
The area is also home to a tight-knit community of creatives and start-ups who’ve taken up residence in its clutch of revived industrial mills. And, like many of its small businesses, Ancoats has been able to carve out an exciting reputation from the ground up.
Great Ducie Street
The final up and coming place we recommend if you’re looking to invest in property in Manchester is the Great Ducie Street regeneration area. It enjoys proximity to Victoria Station, the city centre, Spinningfields, the riverside and more – and is the site of transformational regeneration works.
A 20-year framework is under way at Great Ducie Street Regeneration Framework which will:
With that in mind, properties in the Great Ducie Street area is a fantastic long-term prospect for anyone looking at where to invest in Manchester.