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Complete guide to Property Investment in Manchester
Investments into the city of Manchester see no signs of slowing down and residents (and investors) can look forward to continued development from the Northern Powerhouse initiative which has seen £1.6bn invested into Manchester over the past 24 months, which aims to further improve Manchester's economy, housing market and employment opportunities.
Transport infrastructure will also see advancements with the plans for the HS2 line. This new high speed rail network has led to economic regeneration and development in areas such as Birmingham, Leeds and Manchester, with record numbers of new offices, homes and hotels being built as a result.
Manchester has seen 14,480 residential units under construction during 2018, which is double the number when compared to 2016 (Deloitte Manchester crane survey 2019) and there is also a further 8,517 units currently under construction. The commercial property market has also seen additional investment, with 85% of office space under construction being new build grade A space to attract new businesses moving to Manchester.
As investment continue to pour into the city, it’s only natural that all corners of the Manchester property market, including student, commercial and residential property, will benefit, driving housing demand from residents and landlords and creating new opportunities for property investment in Manchester for first-time and seasoned investors alike.
Demand for Buy-to-Let property in Manchester is high from investors due to the strong rental market in the city, with residents and students looking towards high quality accommodation that suits a spectrum of needs from transport to lifestyle.
A recent report by HSBC revealed that Manchester was voted the second best location in the UK for buy-to-let property investment and with a combination of long-term capital growth and some of the highest rental yields in the country, it’s no wonder so many investors are turning their attention towards Manchester property investments.
Buy-to-let properties are becoming the chosen investment for many as they seek to find an asset where their money can work hard for them, providing high returns as well as offering a safe investment. The price of property in recent years has continued to increase in many areas of the UK and the same can be said for rental prices which make a Manchester buy-to-let investments even more appealing.
Buy-to-let investors have received returns of almost 10 per cent since 2000.
Buy-to-let property investments are popular among those looking to add to their pension.
The number of landlords has continued to increase, proving it’s an asset worth investing in.
Historically, purchasing property has been one of the safest ways to invest but it has also been one of the best performing investments and this still remains the same. A UK buy-to-let property investment brings together the benefits of a regular income along with capital appreciation in the long-term.
For those investors looking to make a buy-to-let property investment now is a great time to begin the process. Rental prices are increasing and yields of up to 10% can be achieved and in some cases more, especially if the right property is purchased.
When compared to the extremely low interest on savings it is easy to understand why investing buy-to-let properties is a popular choice with investors, but they are also driven by the potential capital growth in the medium to long-term.
If you're interested in learning more about buy-to-let investments, continue below to read our comprehensive Buy-to-Let Property Investment Guide which will provide you with information on how to plan, research and begin your first (or next) buy-to-let investment.
For more information on our range of buy-to-let property investments in Manchester or if you need assistance in making the right investment decision, contact Hopwood House today.
Manchester is home to around 99,000 students, studying across the 4 Greater Manchester universities. Manchester has also earned itself the title of having the highest percentage of international students, boasting over 180 nationalities. There are also over 350,000 students across the 22 surrounding universities that are within an hour’s drive from Manchester.
It’s clear to see that Manchester has become a focal point among students both from the UK and overseas and the demand for suitable accommodation continues to grow every year. With generous returns and high spec student property investments in Manchester, investors have a wide range of options when it comes to investing in Manchester.
Whether you’re looking for Buy-to-Let or purpose-built student property investments in Manchester, here at Hopwood House our experienced team offer a free consultation to help you make the right investment decision, whether you are buying or selling investment property.
Over the past year it has been revealed that more people are leaving London and relocating north to other cities such as Manchester and Birmingham, with the reason being mainly down to house prices and overall affordability of living.
With an influx of new residents choosing to live and work in Manchester, the demand for suitable accommodation has naturally increased. With one of the highest average yields in Britain of 5.4%, it’s easy to see why investors have also flocked to the city of Manchester and if you thought Brexit would slow things down, you’re wrong. Several news outlets have continued to pin Manchester as one of the few cities that will survive the Brexit storm and come out stronger than ever with house prices rising by 21.6% compared to the slump that London is predicted to endure.
Aside from Brexit there are other elements that have continued to improve Manchester’s property market, such as employment. As one of the main tech capitals in Britain, Manchester sees no signs of slowing down when it comes to job creation.
|M1 (City Centre)||£0||£0||£194,450 (2)||£205,372 (443)||£248,000 (1)||£0||£233,662 (3)||£196,288 (463)|
|M2 (City Centre)||£0||£0||£0||£224,950 (1)||£0||£0||£0||£268,333 (3)|
|M3 (City Centre)||£292,000 (1)||£164,861 (9)||£318,509 (77)||£209,406 (418)||£0||£162,463 (8)||£280,080 (64)||£219,107 (857)|
|M4 (City Centre)||£0||£195,998 (3)||£279,483 (26)||£205,297 (484)||£172,500 (1)||£170,750 (3)||£331,715 (23)||£194,710 (478)|
|M5 (City Centre)||£179,250 (4)||£164,333 (29)||£157,575 (79)||£177,532 (539)||£247,633 (3)||£148,827 (38)||£150,184 (149)||£162,437 (491)|
|M50 (Salford Quays)||£0||£375,000 (2)||£252,692 (6)||£182,014 (285)||£297,167 (3)||£0||£199,480 (7)||£166,558 (765)|
Data provided by streetlist.co.uk.
The sting of increased stamp duty charges in 2016 saw Buy-to-let investors take a step back from the market, however new research reveals that the demand for buy-to-let property is as strong as ever due to low property prices and attractive yields.
If you’re interested in specific postcodes that will give you the highest chance of providing profitable yields, M14 has become a popular location with an average yield of 7.07% according to TotallyMoney. This data favours particular locations that are home to a high number of students and as Manchester occupies over 90,000 students across its 4 universities, it’s easy to see why investors can’t get enough of Manchester.
Back in late 2018 it was reported the average rental cost in Manchester had risen by 30% (in the past 4 years) with rent prices reaching over £700 a month. Depending on the type of property, location and how many rooms it holds, some investors could currently be looking at averages as high as £1,105 per month if not more. As for the future, rental growth in Manchester is forecast to increase at an average of 3.1% this year compared with 2.4% across the rest of the UK.
As investment into the city continues to grow so does the amount of bars, shops, restaurants and activities that continue to pop up within the city.
This in itself offers an attractive lifestyle to both students and residents with many options for dining, sports, leisure and entertainment. The shopping centres themselves are an attractive feature within Manchester and one that attracts many visitors from all over the world, so much so that Manchester has become the 3rd most visited city within Britain.
Manchester has a thriving food and drink culture that is ever-growing and caters to every type of foodie. With new businesses opening weekly, Manchester boasts a wide variety of bars, cafés and restaurants that have proven to be successful business ventures for many of its residents.
Manchester has become an incredibly accessible city not only by its neighbouring cities such as Leeds, Sheffield and Liverpool but cities and towns further afield such as Birmingham, Newcastle and even Glasgow, with a travel time of around 2-3 hours to reach the city.
Whether you decide to enter Manchester by tram, train, bus or car it’s not difficult to see the investment that has been poured into Manchester’s transport infrastructure.
It’s not just the roads that have been given a facelift; Manchester Airport has become an award winning airport, winning the award for Best UK Airport (2016) and so it’s easy to understand why the airport attracted over 4million passengers in 2018, raising from 2.4million passengers in 2017.
With continued development of the site, travellers and holiday-goers will see the expansion of the airport transform into its own little city, with the help of the currently active project, Airport City Manchester.
This project aims to create new office space, hotels, multi-story car parks and more. By developing a new space for businesses and leisure facilities, the opportunities for further employment come alongside it, with an estimated 16,000 new jobs to be created over the next 15 years. This investment will only open up the city even further, inviting new residents, giving more options to students after they graduate and invite more investors into Manchester as the city continues to grow its economy.
The £1Billion project will also include further progression of transportation links such as motorways and tram lines to ensure visitors can access the area with ease.
Investors have long been flocking to MediaCityUK as it continues to be the hub for all things media and digital. MediaCity is home to house-hold names such as the BBC, ITV and Kellogg’s which present an abundance of opportunities for graduates and residents working and living within Manchester and the Salford area.
Back in 2016 confirmed plans for further expansion worth £1Billion would aim to double the size of the location. The development is still underway as a 10 year project but once completed will compromise of new office spaces, homes, a 330-bed hotel and new shops.
If you’re interested in residential buy-to-let apartments within MediaCity we have a brilliant opportunity for investors who want to be part of the bustling city. Tower 4 at MediaCity compromises of exceptional, modern studios and picturesque views of the waterfront.
The Northern Gateway is a mammoth regeneration project along the River Irk that aims to create 7 new neighbourhoods, schools, public spaces and healthcare all wrapped up with further improvement to the surrounding transport links to make it much easier for people to call Manchester their home.
Covering 155 hectares to the North of Manchester city centre, The Northern Gateway will increase housing demand as well as creating employment opportunities with the addition of new businesses, shops, educational facilities and natural public places that can be enjoyed away from the rush of city life.
To say The Northern Powerhouse is ‘huge’ is an understatement and It’s not just Manchester that will reap the benefits of The Northern Powerhouse, as other areas such as Liverpool, Newcastle, Leeds, Hull and Sheffield will be transformed into a region where people want to work, live and invest.
The Northern Powerhouse has already spent over £13Billion alone just to improve the transport infrastructure from 2015 to 2020. This particular section of the project includes the transformation and development of HS2, Northern Powerhouse Rail and north-south railway, which are opening up the gates to showcase just how big this scheme really is.
When it comes to business, The Northern Powerhouse aims to provide endless opportunities for a range of industries and sectors that will only benefit from this project. The development will provide over 100,000 new employment opportunities, in which some areas of the project have already seen a positive influx of international people and businesses as well as local across the region.
The Northern Powerhouse will naturally impact the property market in which figures have already shown that over the past couple of years, Manchester specifically produced the highest annual growth rate of 7.4% in 2018 which only cements the reasoning for why students and professionals are choosing to relocate to Northern regions as opposed to staying in larger cities such as London where property prices are much higher.
The expected population in Manchester is set to increase 28,400 by 2021, with an estimated total population of 2.87m by 2025 and over 70,000 jobs are forecast to be created due to the development of professional services and regeneration projects.
So, what’s next for the Manchester property market? Many believe that the property market within the North West of England is set to boom in the next few years.
Predictions of increased wages, interest rates and property transactions are set to transform Manchester’s property market not only for existing investors but those looking to take their first steps on the property ladder.
With evidence to suggest the average age of property investors is falling, the next generation of property investors are in a great position to be a part of the transformation of Manchester’s property market for years to come.
As regeneration projects in Manchester continue into their first or next phases, predictions for the growth in population are estimated to increase by around 14% over the next 20 years. The growth in population will also include the amount of students that choose to study in Manchester. With one of the highest graduation retention rates, it’s no surprise students continue to flock to universities across Manchester.
The combination of increased number of students and the cities regeneration projects will naturally increase demand for rental properties, with many students choosing to continue life within Manchester after they have graduated. Many students will therefore start their journey as a first time buyer and wish to look for better housing in areas that are closer to work and transport links.
In regards to house prices, if we look at a 5-year forecast, Manchester house prices are predicted to rise at an average of 14.2% between 2018 and 2022. The buy-to-let market has already increased by 27% over the last 10 years and even with the uncertainty of Brexit, the buy-to-let property market in Manchester shows no signs of slowing down.
If you’re an investor who wants to be a part of the hustle and bustle in Manchester City Centre, there are various avenues investors can go down to find a suitable property investment that can offer great returns.
In regards to residential property, Manchester City Centre sells a high number of flats compared to semi-detached or terrace properties and in the last 12 months, almost 700 flats were sold at an average value of £209,000. (Zoopla)
This insight gives investors the edge they need to learn about their potential tenants. We can already assume that those purchasing flats within the city are potential graduates or couples looking for a city flat that can provide them with all the local transport links and easy access into the centre for work or play.
When it comes to the regeneration of Manchester City Centre, you can clearly see the transformation of the city by looking across the city’s skyline. A large number of projects were given the thumbs up in 2017 and have no better aim then to improve Manchester’s economy, housing demand and reputation which has gradually earned itself as a place where visitors want to live, work and invest.
Here are just some of the up and coming regeneration projects taking place in the City Centre:
As the number of regeneration projects continues to increase, Manchester City Centre is becoming a hive for property investment. As more investors from around the world seek profitable investment opportunities, Manchester City Centre can offer investors a range of property investment opportunities from student accommodation to buy-to-let property investment.
What investors need to keep in mind is that as the city continues to grow, so will property prices and rental yields in Manchester’s property market (which we’re already seeing). Keeping up-to-date with the latest developments in the Manchester property market is crucial in order to find that perfect property investment, regardless of whether you’re a first-time investor or an experienced investor looking to expand your property portfolio.
Based on the city’s south-west side, Castlefield has developed a reputation as a hub for property investment. Many period buildings have been given a new lease of life and have been transformed into modern living spaces or offices to cater to the demand of new residents and businesses entering the area.
As Castlefield is right on the doorstep to Manchester City Centre, it’s a fantastic area for those who may want to live outside the city but commute into the centre for work, or vice versa. The surrounding transport links make this incredibly easy, whether that’s by car or train.
The housing market in Castlefield is slightly more expensive then the city centre, with an average price of £235,673 (compared to Manchester’s £214,379). Prices over the past year in Castlefield were similar to that of the year before but overall, prices have risen 13% compared to those in 2007.
Castlefield has long been popular with students and young professionals who enjoy the green spaces on offer but also the ease of which they can travel to and from the city centre. Castlefield gives residents the option to escape the hustle and bustle of the city and enjoy a day by the canal.
If high-end property investment is more up your street, then Spinningfields is the place for you. The location has long been popular with celebrities and therefore caters to a particular lifestyle with up-market restaurants and bars that will transport you to other worldly places.
Naturally, with an area that attracts those with bigger pockets, property prices are much higher than your average property price in Castlefield for example. Back in 2017, those looking to live in Spinningfields would have expected to pay around £500,000 for a two-bed apartment.
For investors interested in luxury properties, average rents in Spinningfields can range from £850 per month and in some cases up to £1,300 per month. This high price tag is justified not only by the prestigious apartments but the lifestyle that Spinningfields will provide to those living in the area.
Continued investment into commercial and residential buildings in Spinningfields and Deansgate has transformed the area to become a haven for high-spec architecture, contrasting against the more traditional buildings that feature in other parts of the city.
Although visitors may feel they’re miles away from the city centre, they’re in fact closer than they think. Transport links to and from Spinningfields are just as convenient as anywhere else. Commuters are a short drive from the M60 and the Victoria Train Station can be reached by simply walking.
If you haven’t heard, Ancoats is a pretty big deal at the moment. Over the past ten years the area has received a wealth of regeneration and has transformed itself into a place where people are proud of their independent high-streets and thriving community of Arts and Theatre.
It comes as no surprise that Ancoats has been granted the title as one of the best places to live in the UK in 2019, by The Times and although regeneration projects have sprung Ancoats back to life it hasn’t replaced the rich history that makes Ancoats a great place to be.
Old and new have teamed up to create modern developments with a twist as traditional materials are used to ensure the landscape is still in-keeping with the surrounding area.
Flats in Ancoats received the most sales in the past 12 months, with an average value of £196,479 (Zoopla). RightMove reports that average sold prices in Ancoats over the past year had risen 3% compared to the previous year, which indicates that the Ancoats property market is only growing stronger year on year.
Just a short walk away from Ancoats and New Islington is The Northern Quarter. Known for its music and fashion scene, The Northern Quarter is a hive for those seeking a lifestyle that’s both trendy and lively. Naturally, The Northern Quarter is popular among young professional and students and therefore the area has a variety of quirky bars, clubs and cafes that both residents and students can enjoy.
The Northern Quarter may look deceivingly rundown on the outside but it’s actually a hidden treasure trove of modern apartments, some of which are the most sought after in Manchester.
There are many exciting employment opportunities in the Northern Quarter with the area’s popular finances centre and creative industry, giving students, graduates and residents plenty of opportunities to work in this area of the city.
One example of this is Amazon. With plans to open its first UK corporate office in 2019, 600 jobs are expected to be created. Situated between Victoria Station and Shudehill, those in the surrounding areas have an opportunity to work for this retail giant in a variety of roles.
This high volume of job creation will naturally extend itself to the housing market as more people wish to move and live in and around the Northern Quarter in order to be closer to work and transport links.
In regards to property prices, the M4 postcode has performed well over the past 12 months. Zoopla reports that the current average value is £197,332, with flats being the most popular property type purchased.
The Green Quarter is slightly different to its surrounding areas, as its more of a residential development than a district; however that doesn’t take away the fact that The Green Quarter is loved for its many independent food and drink businesses that bring the culture of Manchester to life.
Its high rise apartments give residents a great view of Manchester’s skyline and transport links are easily accessible to take commuters to and from the city centre, especially as The Green Quarter is situated so close to Victoria Station.
Commercial investment has been no stranger to The Green Quarter as it has received £100m worth of regeneration towards new office space for Co-op bank. Due to this investment, infrastructure has been improved to ensure professionals can travel around the area with ease.
Rental prices in The Green Quarter come in at around £700 per month for a 1-bedroom apartment, whilst 2-bedroom apartments start at £825 per month. The amenities and all-round excellent location of The Green Quarter support the fact that even though there is less choice when it comes to property, the demand is still there for investors to take advantage of.
NOMA is new to the city of Manchester but aims to create 20 acres of residential and commercial properties, which include homes, offices, retail space and more to help with the expansion of the city’s growth of both population and regeneration.
Although the dream of NOMA is still under construction, there are clear developments which show the potential that NOMA has to offer. One Angel Square is just one of many developments that will carve its way into Manchester as a sight to behold. Completed in 2013, the Co-op headquarters is a 15-storey building that is impressive in both scale and style.
At the heart of the Manchester recent renaissance has been the new development at Salford Quays, as significant levels of investment have turned the area into one of the most desirable locations for young professionals in the north of England.
Far removed from the urban decay seen throughout Salford Quays in the 1970's and 80's, Salford Quays is now a thriving commercial and residential district, which is home to some of the UK's leading corporations including the BBC and ITV.
The new MediaCity, the catalyst around which Salford Quays has grown is a development put in place to counter balance the traditional media industries throughout central London. Today, a large number of corporations have chosen to make MediaCity and Salford Quays their home cementing the areas identity as one of the UK's leading commercial centres.
Arguably the highest profile of these corporate relocations was the BBC's decision to move over 2,000 staff from their offices in central London to the new stunning new Northern HQ offices on the banks of the Salford Quays.
Understandably, such a large increase in employment throughout the area placed a significant demand on the local property market, and today both short and long term rental accommodation in Salford Quays is in high demand, creating exciting opportunities for property investment in Manchester.
Whilst a number of high profile residential developments were launched in the Salford Quays district in the past two years, the demand for buy to let property in Salford Quays is today at an all time high, with investors both in the UK and overseas keen to capitalise on the increasing demand for rental accommodation.
We offer a wide range of investment properties for sale in Salford Quays and the surrounding areas such as Old Trafford and Stretford, and new developments such as those at The Gateway and MediaCity have proven hugely popular with investors.
You can find The Village down by the famous Canal Street, which is beaming with colour and life, especially as it’s one of the UK’s most popular gay quarters. Here you’ll find a variety of bars, pubs, clubs, cafes and restaurants to eat and drink to your heart’s content.
Over time, The Village has become a hotspot for culture and most notably, Manchester Pride. The history behind The Village and how it came to be is one of the many reasons people enjoy spending time in The Village and why property in the area is also highly sought after.
This spark of residential property purchases is most notable with young professionals who want to join the party and enjoy what The Village has to offer.
In years to come the Piccadilly area will see a wealth of transformation especially as Piccadilly is the centre of the HS2 project. So for those who wish to live or invest in the Piccadilly area of Manchester, expect to see house prices rise as the area becomes a hotspot for commuters and residents.
As Piccadilly is also quite a central location within Manchester, rental prices tend to achieve a high price of around £750 per month. So if you’re in the market for a buy-to-let property investment, Piccadilly could provide you with great returns.
The Southern Gateway is an area that’s flooded with modern developments and conversions that sit just outside of the busy city centre. The Southern Gateway is also perfectly located for students as the area is not far from both the University of Manchester and Manchester Metropolitan University, giving investors a great opportunity to provide housing and accommodation to students and graduates.
Due to its location, the Southern Gateway has excellent transport links and has several railway stations to pick from. Should visitors be travelling by car, the ring road is easily accessible by the Southern Gateway and there’s always a bus available just around the corner.
Another reason the Southern Gateway is popular among students and young professionals is that it’s just a hop, skip and a jump away from the lively streets of Oxford Road and Canal Street.
If you’ve been keeping up with the regeneration projects within Salford, you’ll know the area is becoming its own little hub of investment within Manchester, one that currently has almost 6000 units under construction.
With popular sites such as MediaCity and Salford Quays taking centre stage, the property market within Salford is growing steadily as residents want to be a part of its evolution.
According to data from Zoopla, the most popular property type in the last 12 months were Flats, with 454 sales, followed by terraced properties and then semi-detached. What does this tell us? It may indicate those currently buying property in Salford are of a younger generation who do not need the amount of space a semi-detached house could provide, when compared to a flat.
The average price of these properties ranged from £155,000 to £200,000. Overall the average property price was an impressive 10% up compared to the average sold prices in 2016.
As an investor, this could be a great opportunity to understand the type of properties being purchased and the types of people that are currently buying.
If we continue to look back at statistics and reports regarding the property market within Salford, you can see it has continued to grow year-on-year, specifically in 2014 when it saw an incredible 12% increase in house prices. Even in the present day we can clearly see this hasn’t slowed down and as projects such as Salford Quays and MediaCity continue into their next phase, we can hope to see the property market in Salford continue to flourish and invite property investors to take a slice of the pie.
Transport links within Salford has made it an incredibly easy area to visit, so much so the number of visitors continues to increase yearly as more people want to take in the sites and enjoy what Salford has to offer.
The centre of Salford has much to offer to both students and residents who want to shop til they drop, open their own business, find new employment opportunities or relocate to popular villages such as Eccles, Worsley and Irlam (to name a few).
If buy-to-let is your preferred investment type, Stockport is an area you should be shopping around in. In November 2018, Stockport was crowned 2nd place as one the best places for buy-to-let investment, overtaking Manchester which came in at number 3.
So, what made Stockport jump 18 places and become such an attractive place for buy-to-let investment? According to LendInvest, their data shows that although yields in Stockport weren’t the highest at 3.75%, the capital gains painted a different picture of 6.34%, beating the capital gains earned in Manchester, which came in at 4.26%.
It’s no wonder that with great house prices and reasonable living expenses, Stockport has placed itself firmly on the investment map. However, that’s not all, although Stockport has been playing catch up compared to some of the other areas within Manchester, Stockport is starting to see its own regeneration projects that aim to create new transport links and further affordable housing.
New businesses are popping up around Stockport, providing residents with new places to relax, drink, eat and socialise and many schools across Stockport are considered outstanding by Ofsted reports. Soon there will also be an influx of regeneration projects such as Stockport Interchange, Piccadilly Car Park and Davenport Hotel just to name a few.
Not only will these new regeneration projects create new living spaces, jobs and improved infrastructure, they will give Stockport the extra push it needs to cement its position as a great place to live and invest.
Trafford is a popular location for families seeking the best schools for their children as it includes a long list of schools with outstanding and good Ofsted ratings. As a property investor, Trafford can be a great place to offer families and those looking to start a family a suitable home in areas that provide good transport links and amenities – after all Trafford does has an award winning food scene.
Aside from Trafford being a great place to grab a bite to eat, certain areas of Trafford provide luxury housing options in the more “upmarket” areas which have attracted celebrities to its streets. However, for those looking for something more in their price range, residents can expect to see the average house price of around £295,000 in areas such as Sale.
Urmston in Trafford is expected to see new investments and continued support for is growing city centre where more stores and cafes are popping up to the delight of residents who enjoy taking time out to enjoy the food and drink scene in Urmston.
When it comes to the property market in Trafford, expect to see semi-detached properties as the most popular type sold. Average prices for semi-detached properties in Trafford came in at £324,549 and although this is seen as expensive compared to neighbouring villages, sold prices were up 5% compared to the previous year and when compared to 2016 there was a 15% increase in sold prices.
Like many of the Manchester boroughs, Bury offers residents and students excellent transport links and fantastic opportunities for learning and employment. Bury also has a good reputation of having low crime levels and a much needed blend of country side and city life.
House prices in Bury are extremely reasonable compared to other areas, as within the last 12 months, Zoopla reported the average house price in Bury were £197,663, across all types of properties. Terraced houses had the most sales, followed by semi-detached properties.
If residents fancy treating themselves they can enjoy spending time in Greater Manchester’s third highest ranked retail destination. Bury has an ever-growing list of attractive features that continue to draw in residents, students and investors and those features show no signs of slowing down as further investment is currently in the pipeline.
The Prestwich regeneration for example, is a scheme that aims to create new jobs, more housing options and overall a place where residents are happy to live with improvements being made to the roads and footpaths. The plan also includes development for new apartments, hotels and commercial office space and community buildings.
Recently, Rochdale was recognised as one of the top places for buy-to-let with average return of 9%. This meant landlords and investors could purchase property at a low price and provide tenants with reasonable rents.
The report also showed an average 2-bedroom property in Rochdale would fetch around £98,000 with an average monthly rent of £738.
Aside from the growing property market, the town of Rochdale is currently undergoing a £250 million regeneration programme. The transport infrastructure has already seen improvements and we can expect to see residents and tourists indulge in the new Rochdale Riverside retail and leisure complex which will be home to a number of big retail brands as well as providing a place where movie-goers can enjoy their favourite films in the new 6-screen cinema.
Investment into Rochdale doesn’t stop there as a number of areas within the borough have benefited from restoration projects which aim to attract more tourists into the town.
The Northern Hub programme also has plans to connect Rochdale directly to Manchester Piccadilly and Oxford Road by rail as well as a direct service from Rochdale to Manchester Airport. By opening the town further, more tourists, residents and investors can enjoy all that Rochdale has to offer now and for years to come.
Located between the rivers Irk and Medlock, Oldham is home to stunning countryside’s that surround the quaint market towns that are creating award winning food and drink establishments. As around 25% of Oldham is located within the Peak District National Park, Oldham has become a popular place for walkers, hikers and cyclists.
Those looking to live or invest in property in Oldham can expect to see an average property value of £155,625 (Zoopla). Terraced houses were received the most sales in the last 12 months, followed by semi-detached and then detached properties.
For landlords and investors, Oldham is considered as one of the best places to get on the property ladder, due to the average house price being around 30% cheaper then Manchester, making it much easier for new landlords to start their property portfolio. The Oldham property market is however, a fast paced one and properties are snapped up quite quickly.
Although Oldham can be enjoyed for its cobbled streets and picturesque views, investment into the town centre hopes to attract more visitors and residents to enjoy a corner of modern life. New homes, multi-storey car parks, hotels and commercial office space are part of the Town Centre Masterplan which aims to improve Oldham’s economy and provide more opportunities to those visiting and living in Oldham.
For property investors, Wigan could provide excellent opportunities in regards to both residential and commercial property investment. House prices continue to rise in Wigan and have done so since 2002. According to RightMove, average house prices over the past 12 months were around £137,000, providing a much cheaper option compared to Swinley and Aspull.
So, why invest in Wigan? Investors will be pleasantly surprised to know Wigan could provide an attractive gross yield of 7.09% and was ranked 4th in Zoopla’s report of best buy-to-let towns.
Wigan is also one of the largest metropolitan districts in England and can provide endless opportunities for tenants and landlords. The borough is home to a spectrum of pubs, bars, shops, cafes and restaurants that bring Wigan to life. Shopping facilities in Wigan include the Grand Arcade and The Galleries which offer a range of big and small brands to choose from.
The services and retail scene in Wigan is an important one as it supports 10,000 jobs and over 300,000 visitors a week. This has not gone unnoticed, as plans for a Wigan Town Centre regeneration project has been proposed in order to keep Wigan up to date with modern life as concerns over online shopping become more apparent for countless high streets. The plan aims to keep the spirit of community alive by ensuring the town centre is a thriving space for new and existing businesses and facilities.
Improvements to the transport infrastructure will create more links to the town centre, reducing journey times and opening the town further for more visitors. The plan aims to improve life in Wigan for all ages, especially for the younger generation where more options for an exciting nightlife are being developed.
Overall this regeneration project will bring new life into Wigan, providing residents with new job opportunities and the ability to travel further with less strain on the roads of Wigan. HS2 also has a role to play in this development and will improve Wigan’s rail services.
Named after the River Tame it’s not just the river that’s flowing through this borough. Investment and regeneration projects are flooding Tameside with a wealth of new homes, business opportunities and job creation.
Only within the last 12 months, Tameside had over 2,500 property sales with an average value of £165,417 (Zoopla). Terraced houses were the most popular property type, with semi-detached properties not far behind.
Depending on where you’re looking to invest within Tameside, most areas have a very attractive average sale price with even better gross yields. For example, a property in Droylsden could sell for around £79,000 with an average gross yield of 7.63%.
Tameside also offers residents and tourists plenty of amenities and opportunities to relax, socialise and enjoy the brilliant food and drink that’s on offer. Football fans will be familiar with the Etihad Stadium and Old Trafford and if visitors want to see a show or a gig the Manchester Arena is no stranger to talent!
Regeneration projects in Tameside continue to pour in as investors and residents can expect to see a number of developments such as; Ashton Moss, St. Petersfield and Droylsden Marina. Each of these projects has plans to expand the areas of Tameside to create improved transport links, new leisure facilities and housing as well as improving the market town for new and existing business owners.
Key to the success and growth of Hopwood House in recent years has been our location on the outskirts of Manchester. Strategically located to offer all our consultants easy access to Manchester, Liverpool, Sheffield and Leeds, we are regular visitors to all the major property developments within the key Northern Powerhouse destinations.
We are passionate about the growth and development within these locations, ensuring our consultants have a high level of expertise regarding the development opportunities within these key growth areas. For this reason, many investors choose to speak with Hopwood House first when considering property investment in the North England.
We genuinely believe in working with our clients, providing a high quality of service and information, allowing our clients to make their decision on a more informed basis. As a result of this, an increasing number of investors are choosing to return and utilise our services on an ongoing basis. This is something we are incredibly proud of, and which we are looking to continually improve on in the future.
If you are considering in investing in a property in the North of England, and don't fancy the 'hard sell' approach, please feel free to get in touch on either email@example.com or Tel: +44 (0) 161 337 3890.
We look forward to hearing from you!
"Breath of Fresh Air. Just when you think you have see it all in terms of great customer service, you get a surprise. I am indeed very pleased with the service from Hopwood House."
Adebayo | Breath of Fresh Air
"I have been extremely happy with the professional and friendly service I have experienced with Hopwood House. I will continue to use their services for any future sales and would highly recommend the Company."
Elizabeth Lees | Exit Strategy
"My wife and I were looking for purpose built student accommodation for investment and, notwithstanding that we were not their clients, the team at Hopwood House took the trouble to identify our goals and then set about helping us to achieve them."
Peter Taylor | Student Accommodation Investment
"5* Property Investment Specialists. Hopwood House have been professional, informative and knowledgeable in dealing with the sales of our investment properties. They have kept us informed at all stages and been available to answer any query no matter how small."
Julie Newman | 5* Property Investment Specialists
All the way through the process you have kept us informed and dealt with the negotiations in a most professional way.
Audrey & Colin | Lancashire
"Having just completed a purchase of an unit after careful consideration, at this stage we have been impressed over the months with the professional and personal communications with the Office Admin."
Anne Geddes | Professional and Personal Service
If you would like further details about Hopwood House or any of our property investment opportunities, please contact us using the form below or call us directly.
Call: +44 (0) 161 337 3890
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