Why Investors are Turning to Manchester

Property investment is now big business in the UK, with many people choosing to plough their money into bricks and mortar as a secure and reliable way to enjoy some healthy returns.

Of course, to get the greatest benefits from your investment, you need to choose a property in the right area, and it seems that Manchester is now one of the biggest property investment hotspots, so in this article, Mark Burns, Director of Pure Investor takes a look at why this is proving to be the case.

Economic resilience

Whilst we have all faced a difficult economic time, it seems that Manchester has proved to be extremely resilient in the face of economic challenges.

As it has a diverse base which not only covers industry, but also finance, technology, healthcare and media, it has proved to be attractive to a wide number of businesses, based both in the UK and abroad. This has meant that during uncertain times for many, Manchester has had a steady stream of job opportunities available across various sectors.

This has meant that many young professionals are being drawn to the area, and they all need somewhere to live, which has created a clear demand for housing.

Sporting endeavours

Manchester has a strong sporting history, and as home to two of the biggest Premier League teams in the country, it has certainly proved to be attractive to football lovers and those employed by the many high-level clubs in the area.

However, it seems that a new wave of football fever is set to hit the city as it plays host to the Euro 2028 Championships. As the host city, it is expected to drive demand for property, both as a result of the increased levels of tourism and the temporary residents that it will bring to the area.

By playing host to an event of this magnitude, there is often a long-lasting effect, thanks to the upgrades to transport links that are necessary and the urban regeneration that takes place in the areas around the stadiums and other key event locations.

This all means that Manchester’s popularity is set to grow not only during the event but after it as well, meaning that there will be a strong demand for rental properties and some healthy rental yields to be enjoyed.

Green spaces

It is well known that Manchester has been through a long period of urban regeneration, and whilst this often means a lot of concrete high rises, this Northern Powerhouse city has taken a different approach. Instead, there have been a number of policies to ensure that Manchester retains as much green space as possible, to help promote sustainability and benefit the wellbeing of those who live there.

The Green Corridor Initiative has created a network of green spaces and wildlife corridors that can be found all through the city in order to offer a green escape within a bustling city as well as promoting biodiversity.

Piccadilly Gardens and Sackville Gardens are also two big city centre parks which have been found to offer a significant green contrast to their built-up surroundings, and community gardens and allotments are also being built to enhance the area and develop the local community spirit.

These green projects have all worked to make the city of Manchester a more appealing place to live, and it has meant that it looks very different to many of the other cities around it. This puts Manchester at the top of many wish lists when it comes to choosing somewhere to live and has helped to ensure the strength of the local property market for investors.

Property prices

Property prices are often on the move, but this seems to be a trend which is strong in Manchester. In fact, the prices of property in the area have outpaced many other parts of the UK, as they continue to rise steadily.

This has meant that many investors feel confident putting their money into the area, as it seems likely that they will experience some healthy returns without having to wait very long.

The rise in prices might be beneficial for investors in another way, as it can often prove to be a barrier to entry for many first-time buyers who find that the property prices are too far out of their reach, leaving more available for investors to get their hands on.

Sustainability

We live in a time where it is vital to be aware of the impact that we have on the environment and try to find more sustainable ways of living. This is something which Manchester has seemed to embrace, as many of the new developments in the city are incorporating green technology, sustainable materials and energy-efficient designs.

This has proved to have mass appeal, not only because of its green credentials, but also because of the savings on energy bills that can be made. This is seen as an appeal to renters in the area, and for many investors, it can also be considered to be future proofing, as there will be less adaptations that need to be made to the properties in the future.

Café culture

Many big cities have developed their own café culture, and Manchester is no exception. The cafes that are now an integral part of much of the city are proving to be important community hubs for both business and social occasions and play host to regular activities and events that create a more vibrant social scene.

These cafes not only broaden the appeal of particular neighbourhoods, but they also have a number of benefits for the local economy, which then leads to greater levels of job creation and spending power.

Investing in property in Manchester has long been seen as one of the best alternatives to London, and it is easy to see why. Its broad base economy covers traditional business interests as well as sport and culture which means it has scope to grow in many different ways, continually bringing new people and investors to the area.