Manchester is the third most valuable property market in the UK

Manchester is the third most valuable property market in the UK

Manchester is now ranked as the third most valuable property market in the UK according to the latest Hometrack property index. With a total property value of around £133 billion, Manchester is just behind Birmingham, where the value is approximately £152 billion, and of course London, where the property value is a staggering £1.99 trillion.

There is no doubt that Manchester has benefited from a significant influx of companies who have decided to leave the high costs of London and move north. This has resulted in Manchester becoming somewhat of a tech and digital hub, creating thousands of jobs in the north west, and in turn, creating a massive demand for rental accommodation.

Manchester has also seen a sharp rise in property prices over the last year. An average home in Manchester will now set you back around £162K which is nearly a 7% uplift on 12 months ago. This compares to an average of 5% across the rest of the UK.

This is good news for buy-to-let investors in the city, who are not only enjoying strong rental yields but are experiencing excellent capital growth as well.

Interested in finding out more about Manchester buy-to-let investments? Contact us now to discuss your plans.