Manchester’s property market is enjoying steady growth, thanks to the swift increase of the city’s population and a backlog from several years of a lack of housing supply.
With JLL projecting rent increases of 4.2% across Manchester over the coming five years, and the city being home to one of the highest proportions of private renters in the UK (at 26.85%).
Manchester offers solid credentials as one of the most promising buy-to-let locations in the UK.
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Salford Quays,Manchester
KEY MARKET STATISTICS
City
510,000
UK’s third largest city with over 510,000 people
£59 billion
in GDP, third largest in the UK
99,000
Students in the city, as well as a graduate
61 million
visitors in 2017, 10% increase year on year
Rental Yields
22%
Increase in demand for lettings in 2020
3.2%
increase in rental yields in 2017
26%
of private lets, one of the highest in the UK
1hr 5mins
between London and Manchester with HS2 in 2032
Sales
137%
Increase in property sales since May 2020
5%
house prices Increased in the North West of England (2020)
6.5%
UK house prices have increased over the past 12 month (2020)
227,200
new homes needed by 2035