Investors are enticed to Manchester as the city’s abundance of accolades create a sound environment to do business. Known for its world class universities, Manchester has a strong student body adding to an incredibly talented pool of people that wish to reside in the city, pushing rents up as suitable accommodation is in high demand.
Manchester has an integrated transport system providing connectivity to the UK and the rest of the world. Advancements in infrastructure make Manchester an appealing prospect for professionals around the country as progressions in rail, air and road facilities provide an easier, speedier commute. Not only do updates in transport links raise the reputation of Manchester as a city to work, live and invest, but also boosts the city’s global appeal creating a fantastic environment for business.
The Northern Powerhouse
Manchester is one of the biggest cities at the heart of the North and the Northern Powerhouse, often referred to as ‘The Gateway to the North’. The Northern Powerhouse refers to a cluster of cities that work in harmony to form a super economy. Manchester, Leeds, Liverpool, Sheffield and Newcastle create one of the largest economies in the world, with a combined worth of almost £350 million.
Together, over 15 million people live across the Northern Powerhouse cities, producing over 520,000 undergraduates and 190,000 graduates per year, producing one of Europe’s most densely populated student areas. Student accommodation is a worthwhile investment for those either wanting to diversify their existing property portfolio or to venture into property investment for the first time.
RW Invest property specialists based in Liverpool state,
“As of 2018, student accommodation is more popular than ever before. The student buy to let market has quickly gained momentum throughout recent years, establishing itself as one of the most promising investment opportunities and a way to secure a lucrative long-term income.”
Student population, world wide appeal and numerous cities working in unison to implement their determined visions are why so many investors are choosing Manchester property.
Some of the world’s most prestigious and established companies have made Manchester their home. With more than 80 of the FTSE 100 having set up their business so far across the region. Adidas has set up its national head office in Stockport with a warehouse located in Trafford Park and Google, KPMG and Sky all have regional headquarters based in Greater Manchester. Multiple sectors ranging from finance to television, from engineering to technology are in addition to the £650 million Media City Business Hub, home the likes of BBC and ITV that are helping Manchester outpace the rest of the UK, especially in the property investment market.
Profitable Property Market
A burgeoning economy, propped up by a relentless stream of new residents, students from around the world and graduates fresh out of university are adding to the 2.73 million strong population. Due to the city drawing in an increasing number of people from around the globe, the demand for high quality housing in the city is higher than ever before.
Manchester has indefinitely secured its position as one of the major game players in UK property. Investors are taking advantage of the thriving economy, expanding population, low entry prices and high potential for capital growth as predictions suggest that between 2017 and 2021 house prices will grow by over 28%.