Manchester

Cities with extensive regeneration seeing strongest rental growth

Manchester rent prices have increased by 38% in the past five years, and during that time, the greater area has seen a significant amount of regeneration, especially in Salford Quays.

The average rent in English cities that have seen substantial regeneration has increased by 21% since 2014, while the national average rose by 16%. Bunk, a letting platform, examined rental prices across the past five years in 12 English cities. Manchester led the way, followed by Cambridge, Newcastle, Bristol, Portsmouth, and Liverpool. The research revealed that regeneration is driving up property and rental prices, which presents opportunities for investors and landlords.

Tom Wollard, co-founder of Bunk, commented: “These transformations are positive in terms of the level and quality of housing stock being provided and there is certainly an appetite for these developments and for housing in areas to have seen drastic improvements.

“For landlords this maintained demand pushes up prices and these areas provide a very good return on investment in a landscape that is currently rather tough.

“So for those looking to invest, the best option is to get in early to an area that has been earmarked for regeneration but is still affordable at present, and you should see a healthy return despite the changes to the sector of late.”

Regeneration in Salford Quays

Regeneration in Salford Quays and the relocation of numerous tech and media companies are likely responsible for much of the growth in not just Salford but Manchester as a whole. BBC and ITV have large operations at MediaCity, and TalkTalk announced last year that they are moving their headquarters to Salford. Greater Manchester has even become the UK’s tech capital outside of the London area.

As Salford has seen the creation of thousands of jobs and homes, more investment and upgrades to infrastructure are on the way. The development of Port Salford, the UK’s first tri-modal inland waterway port, will link Greater Manchester to new international trading routes, which will bring further growth to the area.

Growth in Manchester

Manchester has seen huge regeneration and investment in the city centre and the greater area. More housing, especially build-to-rent accommodation, new jobs, and transport upgrades continue to bring more growth to the thriving city. As Manchester boasts a diversified economy and jobs in a wide range of sectors, record level job creation and office take-up are boosting the city’s property market.

With young professionals flocking to this city full of employment opportunities, rents and demand are likely to continue to rise. This brings plentiful opportunities for buy-to-let investors. As the population is forecast to increase even more in Manchester, there’s expected to be further room for growth in the rental market in the coming years.

Self-certified Sophisticated Investor

Please read

I declare that I am a self-certified sophisticated investor for the purposes of the restriction on promotion of non-mainstream pooled investments. I understand that this means:

I am a self-certified sophisticated investor because at least one of the following applies:

I accept that the investments to which the promotions will relate may expose me to a significant risk of losing all of the money or other property invested. I am aware that it is open to me seek advice from someone who specialises in advising on non-mainstream pooled investments.

High Net Worth Investor

Please read

I make this statement so that I can receive promotional communications which are exempt from the restriction on promotion of non-mainstream pooled investments. The exemption relates to certified high net worth investors and I declare that I qualify as such because at least one of the following applies to me:

STAY AHEAD OF THE MARKET

Sign up for first access to new developments and exclusive property investment opportunities.

We send limited and targeted emails on new launches and exclusive deals which best fit your areas. We are trusted by over 30,000 active buyers as their source for new stock.

  • New property developments
  • Professional market reports
  • Property deal alerts
  • Development updates
Manchester property investment

FIRST FOR NEWS AND KNOWLEDGE.

Receive trending news straight to your inbox and stay up to date on all of the property market trends and advice.

Established since 2005 we are a leading voice of authority and commentary on the UK property market. Our news is trusted by Apple News & Google News.

  • UK housing market
  • Mortgage & money
  • Buy-to-let landlords
  • Guides & advice

Talk to us

Speak to our UK property experts today:

 

+44 (0) 333 123 0320

Open from 9am-6pm GMT

 

+852 6699 9008

Open from 9am-6pm HKT