Thinking of investing in a buy to let property within Manchester? From high rental yields to a growing population, Manchester is steadily growing as a UK hotspot for property investment. Whether you want to invest in modern city centre apartments or suburban homes, Manchester is filled with plenty of opportunities for buy-to-let investors to get stuck into. If you’re getting ready to take the plunge into investing in property in Manchester, make sure you find out more about some of the best buy-to-let areas in the city.
Manchester City Centre
Popular with professionals working in the city, the city centre is one of the best places if you’re looking to invest into apartments and studio apartments. With more and more students and young professionals moving to the city, and an increasing demand for more quality, luxury apartments, now is the perfect time to invest in buy to let property within Manchester city centre. Property investment companies like RW Invest are developing properties based in the city centre from £112,500 with a 9% net yield guarantee for two years.
Salford is an area with plenty of potential for growth, with a convenient location close to the city centre. The home of MediaCity, Salford is a great area for buy-to-let, attracting professionals who want a high-quality apartment that’s close to their workplace, but also near enough to the city centre. Home to Salford University, the area is also popular with students, meaning more opportunity to invest in student properties which are known for their high rental yields. Due to the sheer volume of students choosing to study in Manchester each year, student properties are always in demand, making this a solid investment.
Located the opposite side of Manchester from Salford, Tameside is based to the East of the city, with a rapidly rising population. According to the 2011 census, the population of Tameside stood at 219,324 — a 2.9% increase compared to ten years before. The average price for a 2 bedroom house in the Tameside areas ranges from as low as £71,095 in Ashton, to as high as £103,939.90 in Hyde. With a variety of well-priced properties, great transport links, a growing community and a good choice of schools, shopping and amenities, Tameside makes a wise choice for investors looking to Manchester for their next venture.
Out in the Manchester suburbs you’ll find Droylsden, an area with a host of shops, bars, restaurants and excellent transport links. Over 2018, prices of properties in Droylsden have seen a massive surge, increasing by more than £4,000. Pair this with a high demand for property and approximate rental yields of 7%, and it’s likely that investing in a property within this Manchester area could make you an attractive profit in a short amount of time.
Located in South Manchester, Wythenshawe is an area with a good combination of schools, housing stock and transport links, making it a stable place to invest in. Wythenshawe is seeing increasing demand, likely part due to the extension of a Metro link to the area, therefore now is the perfect time to invest in property in this part of the city.