Manchester is widely recognised as one of the most dynamic and thriving cities in Europe particularly due to the increase in urban regeneration that the city has undergone in recent years. This has provided a significant change in terms of a lucrative economy and optimistic rental market. With solid economic fundamentals in place, Manchester has arrived on the international real estate arena as a buy to let property hot spot. Indeed, the city continues to attract an ever increasing and diverse array of domestic and international property buyers looking for an investment solution. With this in mind, here are 5 IDEAL reasons to buy property in Manchester.
The number of young people flocking to the city each year is increasingly rapidly. The population of people living in Manchester city centre has increased fivefold since 2000 with figures reaching more than 50,000 from a lesser 10,000 eighteen years ago. And predictions show that these figures could rocket to around 80,000 by 2024.
There is a positive correlation between people living in Manchester city centre and the demand for housing presenting huge opportunities for property investors looking to take advantage of the booming property market. Manchester sits proudly at the top of the UK’s housing market due to the population growth, rising employment and strong house and rental gains. This population growth underpins property prices and rental demand putting Manchester firmly on the map for real estate investors and buy-to-let landlords.
SO MANY STUDENTS
One main factor influencing the rising population in Manchester is the expanding educational facilities that attract an increasing number of students choosing to study in the city – one of the largest student populations in the UK after London. Across four central universities there are an estimated figure of 105,000 students and where there’s students, there’s a rental market.
HIGH STUDENT RETENTION
Some landlords prefer residential properties to student properties and there are ample opportunities to let properties to graduates as around 50% of local students stay on in the city after finishing their studies. RW Invest provide a wealth of buy-to-let student and residential accommodation opportunities located across Manchester offering places to live for students and business professionals who wish to take advantage of Manchester’s diverse offerings.
HIGH LEVELS OF EMPLOYMENT
Employment across the city of the Manchester has outperformed the UK average over the past 20 years and experts suggest the city will continue to stay at the forefront. Indeed, more young professionals than ever before have chosen the city of Manchester for its excellent job market, affordability and vibrant location.
ONE OF THE WORLD’S MOST LIVEABLE CITIES
Mancunians will proudly tell you that Manchester is the best city in the UK, and we reckon they could be on the money. Ranked 51st in the 2017 Economist Intelligence Unit’s ‘World’s Most Liveable Cities’ Manchester scores higher than London, Lisbon, Prague and Moscow. Here at IDEAL we adore the city’s thriving restaurant scene, from critically acclaimed restaurants like Michael O’Hare’s the Rabbit in the Moon to China Town just off Princess Street and Curry Mile in Rusholme. Also, The Trafford Centre is home to Europe’s biggest food court. And if you want to take a break from the city, the countryside is on your doorstep with places like the Peak District only an hour away by train. Manchester really has has it all.