Over the last 5 years, Manchester has firmly established itself as not only the UK’s second largest city, but also currently the best Buy to Let location in the UK.
Situated in the heart of the North, Manchester is central to the Government’s Northern Powerhouse. Being only a short drive from cities such as Liverpool, Leeds, Sheffield and Nottingham you can see why this is the case.
Since the announcement of the Northern Powerhouse, Manchester has excelled. The City centre has been increasing in size and regeneration projects are in abundance. Manchester Piccadilly Station has had an overhaul, mainly due to the expected high speed rail line (HS2) which is set to decrease travel times from Manchester to London to an hour.
These factors, along with many others, have boosted Manchester’s economy attracting business to the area, along with tourism which is worth over £7bn alone. Major TV studios such as BBC have moved to Manchester and have contributed to the revamped Salford Quays area.
The Buy-to-Let market has been strong in Manchester for the last five years and particularly the last three. City centre apartments are now becoming out of reach for Manchester’s citizens, turning the City into more of a rental market for locals. This in turn has offered high yields for investors who got in early but also has pushed the City’s boundaries out. Due to this there are now excellent developments in places such as Salford, which make great investments.