Is Manchester the new property investment capital of the UK?
Looking for a new investment, or even just a new home? Then it may be time to broaden your horizons and look to the north as, whilst London has long been the obvious choice for those looking to make a profit on property, new research has revealed that Manchester is now a better place to buy.
Savvy investors in the vibrant, cosmopolitan city are now earning average returns that are 67% higher than those in the capital and, with new luxury property developments springing up every week, there are plenty of opportunities to get in on the action – as long as you know where to look.
With more buyers than ever flocking to the city for a chance to get onto the housing ladder or to climb up a rung or three, Manchester’s population is expected to increase by a whopping 55,000 over the next seven years, meaning demand for property is high. Select Property Group, a leading UK developer, retailer and operator, has just launched its latest property brand, Origin Homes, to cater to the unprecedented level of demand – offering a range of high-quality residential apartments in prime city centre locations.
One of the brand’s two flagship developments, Exchange Point, is offering buyers a range of desirable city centre location homes. For investors, it’s an opportunity to make the same kind of returns and achieve the same kind of growth once synonymous with the London property market; a market that is currently showing little to no growth and reaching an affordability ceiling.
Manchester, comparatively, is being celebrated as the city now offering the UK’s highest returns and better value for money, making it a great place to buy now for a profitable future. So, it’s little surprise that clued up investors are beginning to make the move now. In fact Exchange Point, as an off-plan investment, has already proven extremely popular with investors both in the UK and overseas – with 53% of the development already sold.
Adam Price, Managing Director of Select Property Group, says: “As with all of our award-winning brands, we combine the highest quality residences with an unrivalled location to deliver a superior city centre living experience. However, what differentiates Origin Homes from the rest of Select Property Group’s portfolio is the flexibility for buyers to use the property themselves, rent it out, or simply hold onto it – making it attractive to both investors looking for rental returns and capital growth, but also to end-users who are purchasing property to complement their lifestyle.
“While our fully managed property brands continue to be extremely popular with our UK investors, we have had many requests from international clients that visit Manchester regularly, or that have children that want to study there, and therefore want to own a quality property they can use as they please. Being fully committed to understanding both our tenants and our investors has allowed us to develop this brand, which is already proving extremely popular with buyers across the world.”
Exchange Point, which comprises 147 studios, as well as one, two and three-bedroom apartments, is in a prime location in the heart of Manchester’s central business and retail districts. It’s situated within Embankment West – a new neighbourhood master planned by Select Property Group, which has a proven track record of successfully creating new city centre communities.
If you’re thinking of making the move to a new city, or simply looking for a solid investment for the future, it could well be time to leave the capital behind – and with Manchester offering a variety of profitable options for homebuyers and investors alike, it offers a strong alternative for many.
In fact, according to a poll by Time Out magazine earlier this year, it is now viewed as the seventh most exciting city in the world, a great reason to get in there now, with opportunities still abound.
Find out more about Exchange Point by clicking here.