Stockport has entered the top 10 of buy-to-let investment areas in England and Wales, in new data published by specialist mortgage lender LendInvest.
It sits in second place, behind only Colchester in Essex, in the new quarterly Buy To Let Index Report having moved up a whopping 18 places from 20th in last July’s figures. In more excellent news for the BTL scene in the north-west, Manchester is one place below its near-neighbour.
The research looked at each postcode area around England and Wales and focused on a combination of four critical metrics: transaction volumes, rental price growth, rental yield and capital value growth.
From these four metrics, Stockport has performed particularly well in capital gains with a growth of 6.34% and has been helped by rents rising by 3.18% over the same period. Strong yields of 5.29%, backed by reasonable figures in capital gains and rent growth, has helped Manchester move two places up in the index and the city’s buoyant property scene seems to be rubbing off on nearby areas. Elsewhere in the north of England, both Leeds and Harrogate feature in the top 20 at 12 and 20 respectively.
The Midlands also ranks highly in the new LendInvest data, with Birmingham joined by Wolverhampton and Coventry in the top 10.
Ian Boden, Sales Director at LendInvest, commented, “The growing opportunity for BTL investors in these regions reflects a knock on effect of investment in these key cities. Locking down a solid prediction of how the landscape will look into the New Year is no easy task. In this instance, we know it is best to let the data do the talking.”
Stockport – the need to know
Stockport is a familiar sight to travellers passing through the area, driving past or flying over the iconic Stockport Pyramid building by the M60, while going under or over the impressive railway viaduct close to the railway station. Manchester is a touch under 15 minutes away on the frequent train services.
Redevelopment in the town centre includes plans for 200 new flats, with hundreds more to follow, and green space around a rebuilt bus station. There is also talk of a new road bridge over the River Mersey, and extending the Metrolink tram network to the town is also under consideration.
SK postcodes cover a wide area, including the four Heatons – Chapel, Mersey, Moor, Norris – villages such as Alderley Edge, the towns of Macclesfield, Wilmslow, Cheadle and Cheadle Hulme. The postcode area stretches down into Derbyshire with Buxton and its area in the High Peak, and as far north as Stalybridge. The rail network throughout Stockport postcode region helps with the commute into Manchester, while travelling by train to London from Stockport takes just under two hours.