The recent announcement of the HS2 project cancellation in Manchester has left many property investors wondering whether they should look elsewhere to invest their money. But fear not, Manchester is still one of the most attractive cities for property investment in the UK, with continued regeneration efforts and high rental yields.
In this blog post, we will explore why the cancellation of HS2 in Manchester shouldn’t deter property investors and why the city remains an excellent option. We will examine the current state of the property market in Manchester, the regeneration projects that are taking place, and what the future holds for property investors in this fantastic city.
Key Takeaways
- Despite HS2 cancellation, Manchester remains a property investment hotspot with a thriving market.
- A robust local economy, driven by tech, healthcare, and finance sectors, ensures steady demand for rental properties.
- Extensive transport infrastructure, independent of HS2, offers excellent connectivity for investors.
- Ongoing urban regeneration projects and future development plans signal a bright future for Manchester’s property market.
The Impact of HS2 Cancellation on Manchester’s Property Market: A Closer Look
Manchester has always been a popular place for property investors in the UK, and this trend will continue even with the cancellation of the HS2 project. The city has undergone significant regeneration over the past few decades and is now a hub for business, culture, and leisure. These factors have led to an increase in rental yields and an overall boom in the property market.
Manchester’s Property Market: Thriving Despite HS2 Setback
Manchester’s attractive option for property investors stems from its low property prices, particularly in comparison to major UK cities like London. However, this attractiveness does not come at the cost of low rental yields. Manchester boasts one of the highest average rental yields in the UK at around 6%, making it a popular choice for buy-to-let property investors.
In addition, the city has numerous regeneration projects to improve infrastructure and create opportunities for businesses and residents. One of the most significant projects is the Northern Gateway, which plans to create 15,000 homes and 10,000 jobs in the area. This will increase the demand for property in Manchester and provide more investment opportunities.
The Future of Manchester’s Property Market: High Prospects for Investors
Another major project that is currently underway is the St. John’s project, which aims to transform the neglected area of Manchester into a thriving business and residential space. This £1.5 billion project will create 3,000 homes, 600,000 sq ft of office space, and 400,000 sq ft of retail and leisure space. It will greatly enhance the area and provide more investment opportunities.
Manchester is a major education hub, home to world-class universities like the University of Manchester and Manchester Metropolitan University. The high demand for student accommodation has made it a profitable investment, especially for off-plan property investors.
The prospects for investment in Manchester are bright, with several significant projects that will improve the city’s infrastructure and create more opportunities for businesses and residents. So, don’t let the HS2 cancellation put you off investing in Manchester!
Rothmore: A Key Player in the Manchester Property Market
At Rothmore Property, we’re dedicated to assisting property investors navigate the dynamic real estate market. Our primary focus is on off-plan developments and buy-to-let properties, both offering exceptional investment opportunities.
Our keen understanding and comprehensive knowledge of the local market enables us to offer potential returns of 10% – 15% NET on investments, indicating our unwavering commitment to high-yielding property ventures.
When you invest with Rothmore Property, you can rest assured that your assets are being managed by seasoned professionals who prioritise both security and profitability.
Don’t let the HS2 cancellation deter you – invest in Manchester with Rothmore Property and secure your financial future.
Frequently Asked Questions
Is Manchester still a good place for property investment despite the HS2 cancellation?
Absolutely. Manchester’s property market remains robust, with its economy driven by strong sectors like tech, healthcare, and finance. The city’s rental yields are among the highest in the UK, and ongoing regeneration projects promise future growth.
What future development plans are in place for Manchester?
Manchester has several ongoing projects that are set to create thousands of homes and jobs. The Northern Gateway and St. John’s projects are two significant regeneration efforts aimed at transforming various areas of the city into thriving business and residential spaces.
What makes Manchester a lucrative choice for buy-to-let investors?
Manchester offers lower property prices compared to other major UK cities while maintaining high rental yields. The city also has a high demand for student accommodation due to its world-class universities, making it an attractive choice for buy-to-let and off-plan property investors.
Does the cancellation of HS2 affect the transport infrastructure in Manchester?
While the cancellation of HS2 is a setback, Manchester still has an extensive transport infrastructure, making it highly connected and accessible, which is attractive for property investors and renters.
