An Introduction To
Manchester is undoubtedly the capital of the North and the centrepiece of the government's Northern Powerhouse vision. It is an exciting and diverse city that continues to grow with no signs of slowing down anytime soon. There are many reasons which make Manchester an outstanding place to live, work and study, meaning that demand for housing is soaring at an all-time high. Therefore, it shouldn't be a revelation that Manchester is one of the best cities for investing.
Manchester boasts an extensive and incomparable history, and the city has established itself as a world-class international hub. It is home to countless leading businesses, universities and colleges, sporting institutions, and tourist attractions. With one of the world's busiest airports and a host of other excellent transport links, Manchester serves to connect people all around the world. Manchester is hugely popular among young professionals, helped by wealthy companies choosing to relocate the city, and it has the second-highest population in the UK - just behind London.
It's fair to say that Manchester has enjoyed an abundance of investments and regeneration within the past decade. Billions of pounds have helped transform the entire city, from the monumental MediaCityUK complex to the innovative NOMA mixed-use development scheme. The city's population has grown by a remarkable 282,086 in 30 years, demonstrating just how important it has been for new residential properties to arrive on the market. House prices continue to rise year on year, with the latest figures suggesting a 6.5 increase.
To help steer you towards the perfect investment journey, we've created this in-depth guide on property investments in Manchester. We will look at the best areas of Manchester for investing in property and explain how the city has emerged as a prime location for new housing developments. We will also present a few of our current investment properties in Manchester that offer high yields, long-term rental demand and plenty of room for capital growth. Our property specialists will be updating this guide frequently with valuable additional information and advice, so be sure to keep checking back!
Manchester is a vast and sprawling city with several outstanding areas for modern and high-quality living standards. It is one of the largest cities in the UK and offers everything you need to live the perfect lifestyle packed with fulfilling leisure moments and professional growth. Whether you are considering living in the city or are looking for investment properties in Manchester, the options available to you are endless.
It's essential that property investors research Manchester's diverse areas to ensure they reach a decision that is right for them. The city has several exceptional locations for high returns, soaring demands and capital growth, but there are particular distinctions that investors should recognise. To help you discover the ideal location, this section will break down a selection of the best areas and postcodes within Manchester.
Salford has seen considerable regeneration within the past decade, perhaps even more than anywhere else in the city. The area is home to the incredible Salford Quays district, which has been transformed into a world-class destination. It also incorporates the MediaCityUK complex, which has welcomed a range of commercial and residential tenants, including the BBC and ITV. Salford is just a mere mile away from the city centre, and with premium apartments, waterfront scenery and stunning views, it truly is an enchanting place to live. It's no surprise that investors are flocking to this hugely attractive neighbourhood. The house prices here are relatively low at an average of £130,000, but with high rental costs, investors can benefit from solid returns of around 10%. Two of our luxury investment opportunities, Media City Gardens and The Anchorage, are in Salford.
City centres are usually the pinnacle of any major town and the prime hotspot for investment. While Manchester benefits from several areas of outstanding quality and attraction, the city centre has everything that a person could possibly need. Smack bang in the heart of the city, there are superb transport connections that serve the surrounding Greater Manchester region and the entire United Kingdom. The growing Piccadilly hub of Manchester is also based in the city centre, and with the upcoming HS2 railway line, there will soon be faster ways to travel than ever before. The city centre has seen several large-scale regeneration schemes such as NOMA and Spinningfields, both of which we will detail further on in this Manchester investment guide. Manchester is an ideal place to live for both professionals and students, and there remains a huge demand for property. Apartments are cheaper than other cities in the country, such as London, yet returns are significantly higher than the UK average. The unique Regent Plaza and Fifity5ive property developments can be found on the outskirts of the city centre.
Old Trafford is a historical and authentic part of Manchester and can be found opposite the Salford Quays district. Trafford is the home of Manchester United, one of the world's most well-known and successful football institutions. Millions of tourists and supporters visit the area every year to tour the UK's third-largest stadium and watch live matches alongside 75,000 people. Trafford is very much a residential area, but it is desirable to new business tenants. The Trafford Centre provides jobs for thousands of employees and attracts shoppers throughout the country. It is the UK's largest retail park and sees over 30 million visitors a year! There are plans to regenerate the area further, helping to deliver new housing, leisure, retail, and education facilities. Our stunning Wardour Point development is nestled between Old Trafford and the city centre, with Salford around the corner.
The trendy and bustling suburb of Fallowfield is popular among students. Fallowfield offers a lively social scene with bars, cafes and shops all nearby. The area offers a peaceful retreat away from city life while providing frequent transport services to the city centre. Fallowfield has shown time and time again that it is effective at attracting large numbers of students who are seeking a place to live during their studies. This area boasts a thriving rental market that is ideally tailored towards a student community. Property prices are usually around the £200,000s, and investors can receive 8-10% rental returns on average.
New launch of M1 apartments in Manchester.
Next tower of an iconic Manchester development.
£144,495X1 Media City Tower 3, Manchester
Unique mix of apartments in Manchester.
A landmark development in Manchester.
£234,500Victoria Riverside, Manchester
Iconic new tower apartments in Manchester.
£175,995X1 Michigan Towers, Manchester
Modern apartments in Manchester for young professionals.
£249,950Ancoats Gardens, Manchester
A stunning residential development in Manchester City Centre.
£144,000Wardour Point, Manchester
Exciting brand new residential apartments in Manchester.
Stunning 51-floor apartments in Manchester.
£243,00051 Floor Tower with Swimming Pool
Spectacular skyscraper apartments in Manchester.
Newly completed apartments in the heart of Manchester.
£181,195Albert Vaults, Manchester
Stunning new build residential development in Salford.
£164,500Media City Gardens, Manchester
Stunning 5 block city centre buy-to-let apartments, selling quickly.
£135,977Regent Plaza, Manchester
Manchester is no stranger to world-leading regeneration schemes. The city has witnessed astonishing amounts of regeneration in the 21st century. Billions of pounds have been invested into transforming the city with a range of exciting and valuable developments that have led to significant growth and boosted the UK's economy. Ongoing initiatives such as the Northern Powerhouse also continue to help fuel further developments. In terms of property investment, Manchester's regeneration has positioned the city as an enticing proposition for investors.
As a property investor, it's important to be aware and fully up to date on a city's regeneration pipeline. The potential growth of a city indicates whether you are likely to benefit from high demand and high yields. This section will talk about some of Manchester's past regeneration projects and upcoming developments that are currently in the works.
What was once a rundown and disused dock is now the UK's prime destination for creative and media businesses. Based on the gorgeous Salford Quays, construction on MediaCityUK began over 14 years ago. The regeneration project aimed to revamp Manchester's business facilities and leisure offerings completely. It has attracted several giant corporations in the media industry, including the BBC, ITV, Kellogg's, Ericsson, and many more. Businesses are continuing to relocate their base of operations from London to MediaCityUK due to Manchester's low costs and central location. Salford University is also nearby, making this an ideal base for students looking to kickstart their careers. Several food and shopping opportunities are nearby, as are outstanding sport, fitness and cultural activities. Future developments at MediaCityUK are planned, including residential apartments, office buildings and open leisure spaces.
Spinningfields is an iconic regeneration project based in the heart of Manchester's city centre. The development was created to bring a world-class business hub to the North, helping to attract and connect thousands of professionals from around the globe. Valued at a spectacular £1.5bn, Spinningfields is now one of the UK's best business quarters. In many ways, the hub has been likened as Manchester's version of Canary Wharf. The district houses a range of residential, commercial and retail spaces. Massive financial institutions are based here, including HSCB, PWC and Deloitte. Spinningfields continues to evolve with additional developments, including a recently opened skyscraper which is now the tallest office building in Manchester.
At £800m, NOMA remains one of the most expensive regeneration projects ever undertaken, and this is only the beginning with further developments planned. At one point, NOMA was even the biggest development in the North. NOMA is a 20-acre mixed-use zone that comprises spaces for residential property, hotel accommodation, office buildings, retail units, and leisure facilities. NOMA attracts all kinds of people, from tourists to residents and businesses. It is known for its eye-catching buildings, such as One Angel Square, a unique and stunning office building that the Co-operative Group currently vacates.
St John's is an upcoming development on the outskirts of Spinningfields. It is set to cost £1bn and will be based on the site of the former Granada TV studios. The development will provide 320 hotel bedrooms, 560,000 sq ft of workspace, retail units, and outdoor open spaces. St John's is described as a new neighbourhood with a tagline of being built around 'enterprise, culture & living'. Enterprise City will be home to several media and tech businesses, including Booking.com and Versa Manchester Studios. Due to open in 2023, The Factory is dubbed as Europe's largest arts and performance venue and will play host to the Manchester International Festival. More than 620 units of accommodation will be built alongside a footbridge connecting other critical parts of the complex.
TraffordCity is a mixed-used development in the western area of Manchester. With an incredible 500 acres of space, this development is the ultimate destination in Manchester for shopping, leisure activities, commercial and office units, and residential property. TraffordCity cost £1.6 billion to develop and offers just about everything that a person could want if living, studying and working in Manchester. A core feature of TraffordCity is the world-class Trafford Centre, a shopping and leisure centre with hundreds of stores and exciting attractions such as zip-wires, skiing and skydiving. TraffordCity is set to grow even further with plans for Therme Manchester, an all-new health and wellbeing resort. Due to open in 2023, the 28-acre resort will combine ancient Roman spas with an indoor tropical paradise.
Manchester has one of the youngest populations of any city in the UK, as revealed by official data. According to the Office for National Statistics (ONS) in 2020, Manchester boasts the country’s youngest demographic with a median age of 30.1 compared to the national average of 40.3. But why do so many young people choose to live in Manchester?
First and foremost, Manchester has a high student population. The city has some of the best universities globally, including the University of Manchester and the Manchester Metropolitan University. Other universities in the surrounding areas include the University of Salford, University of Bolton and University Academy 92. With more than 100,000 students from across the world, there is never a shortage of young people flocking to the city to further their education. As for the quality of living, Manchester is hugely attractive and accommodating to students. There’s an abundance of lively entertainment, outstanding restaurants, fascinating culture, and world-class shopping. Investors will benefit from the high demand for affordable yet luxury student property in Manchester.
Secondly, Manchester is also an attractive destination for young professionals, particularly students who want to remain in the city after graduating. Manchester offers a superb choice of careers with several of the world’s biggest businesses and start-ups based here. In recent years, companies have relocated their base of operations from southern cities to Manchester, and young professionals are expected to follow them. Manchester is affordable and provides the perfect balance between working, playing and relaxing. It is an ever-growing city that has never looked more captivating for young professionals.
For investors interested in property investments in Manchester, the city’s young population is highly appealing. Young people are more likely to rent a house instead of buying, positioning Manchester as an excellent location to let property. Manchester’s young population continues to rise, as does demand for rental property, so get in touch with us today to grow your investment portfolio.
The overall outlook across the United Kingdom's property market continues to look positive following the pandemic, with consistent signs of a growing resurgence. The North West itself is one of the best-performing regions reaping the most significant benefits of the market's bounce back, and Manchester is at the heart of the economy's recovery. This section will take a closer look at how Manchester's property prices continue to grow and what experts forecast will happen in the next few years.
Manchester has enjoyed some of the most extensive property market growth within the last few decades, which doesn't appear to be changing anytime soon. In just the last five years alone, Manchester saw an increase of more than 35% in property prices. It also currently boasts the largest 20-year growth rate, beating that of any other major city in the country. Manchester is, undoubtedly, one of the best property destinations in the country, offering affordable accommodation for students and professionals. Despite increasing property prices, it is far cheaper living here than down south. With a growing population, demand for property and additional opportunities, investors benefit from high rental returns and unique chances to grow their capital.
According to Rightmove, the current average price of a house in Manchester stands at around £248,847. This figure is an increase of 8% on the previous year and an increase of 21% on 2019's peak. Recent statistics released by the HM Land Registry suggest that the UK's average price is £288,130, with the North West being much cheaper than the South and the Midlands.
House prices are soaring at a breathtaking pace, presenting an incredible opportunity for property investors seeking long-term investments that guarantee consistent rental demand and attractive capital growth. Manchester's property prices will continue to grow alongside the city's requirement for luxury property. The JLL property consultancy firm forecasts that prices will rise 4.5% in 2023, 4% in 2025 and 5% in 2026. Based on the current growth rate, as mentioned in a report from Share to Buy, the average price to buy a house in Manchester could cost as much as £629,000 by 2031.
With ongoing property price growth and a promising forecast, Manchester is easily one of the best locations for investing in property. Start your journey towards high rental returns by investing with TK Property Group today.
Download our full investor's guide to Manchester to discover the full opportunity for capital growth, high rental returns and excellent tenant demand.
I recently exchanged contracts on my first purchase – and Jay Kang has been instrumental and absolutely brilliant throughout. Having been monitoring the property market for the best part of 18 months I finally decided to take the plunge.
To top it all off – the deal he secured for me was definitely an excellent one as well. As a first time buyer the entire process can seem a little daunting at first – but Jay was always there to provide a helping hand. Guiding me through the entire process and helping me chase up the solicitors as well.
Ricky at TK Property Group has been absolutely brilliant with our search for and purchase of investment properties. He’s really responsive, efficient, professional and great to work with.
If only all companies were like this to deal with!
Couldn’t have been more happy with the service I have received from TKPG so far. From initial information regarding property options, dealing with queries, sorting out individual circumstances with the sellers solicitors, advice, support and pretty much anything else I needed to email about!
Ricky has been fantastic in every regard, and has made the whole process as stress-free as possible. Now it’s just a case of waiting for the construction to complete and move in – the most exciting part! Thank you TKPG and especially Ricky. I shall continue to recommend you to friends and family!
I had a great experience working with tk property group very helpful polite. When i need any help they help.Reliable and honest.
First-time buyer: Off-plan property
This is my first time purchasing a property. I dealt with Ricky who was incredibly helpful. Despite my messy schedule, he was always available to answer my queries. He is very competent in all aspects of his job role and was promptly available to address any of my concerns. I recommend working with Ricky from TK Property Group. Thank you for making this nerve wracking experience a pleasant one!
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Have been working with Ricky Murphy for several months across various projects. From day one he has been professional, courteous, and transparent. Would recommend TKPG to anyone looking at either residential or investment properties.
Dealt with John Rourke, excellent service and guided me right through each stage of the process.
Great effort and time spent meeting John on site to view the property at a weekend. Would highly recommend him, was always on hand and keeping in touch and I got a great deal too!
From start to finish of my investment purchase I received a first class service from Ricky who constantly updated me throughout and got me a great property. I’ll be speaking with him again early next year when expanding my portfolio further!