Manchester has overtaken London as the number one location for buy-to-let investors.
The Property Buying Company data reveals that around 23% of investors are searching for property in Manchester, outpacing the 18% who look towards the capital for their next investment.
The top five most in-demand cities for investors are Manchester at 23%, London at 18%, Liverpool at 8%, and Birmingham at 7%.
This further highlights Manchester’s ability to provide stable, long-term investment opportunities for both UK and international investors thanks to its thriving business sector and city centre population boom.
Why is buy-to-rent so popular in Manchester?
While average rents in Manchester have risen by around 3% in the last year to £1,349 pcm, the city continues to offer average rental yields of 6.6%, compared to just 5.1% in London, with premium residences like Vita Living Circle Square North pulling in average yields as high as 7.5%.
With the North West continuing to outpace the rest of the nation in capital growth, rental yields, and long-term investment potential, there’s never been a better time to discover the investments available to you.
Contact us to speak to a property consultant about your next investment within the UK property market. Our team would be happy to help.