Manchester already tops the list of best buy-to-let location in the UK, but where exactly should savvy investors turn their attention to within this exciting new star on the property horizon.
Manchester is the rock of the Northern Powerhouse and its biggest achievement. It’s living proof of how an unfortunate area can be turned into a sought after location when it gets the help it deserves. And if you, like most smart property investors, are mainly focused on rental yield when choosing a new investment it’s time to have a closer look at the Mancunian way of doing property.
The top 4 postcodes
M14 includes areas like Fallowfield, Rusholme and Moss Side. It’s close to the campus of the University of Manchester which makes it the most popular area in town for student rental.
This is the TOP PICK for buy-to-let investors, mainly due to the fact that they’ve enjoyed rental yields of over 8% over the last couple of years.
The M25 area is located north of the city centre and comes with a village vibe whilst residents won’t need more than 15 minutes to get straight into the city’s heart. At the same time, the nearby located M60 makes Britain’s other towns and cities easily accessible.
Located in the city’s North West, properties in this area have very reasonable prices. A terraced house will set you back around £70,000.
It might not qualify as Manchester’s nicest or smartest area, but is nevertheless a buy-to-let hotspot as investors can earn yields of over 7.6%.
The M9 area is located North East of the city and might not have the best reputation. It does, however, have a brilliant transport network, only five minutes from the motorway and with great connections to the city centre.
What should an investment property in Manchester offer you?
Simply put, make sure you look out for these three, basic features: