Manchester still a favourite for buy to let investors
A leading national bank has named Manchester as one of the top buy to let hotspots for 2015.
Barclays bank named Manchester in the top 5 cities for buy to let in the UK, after seeing a huge jump in demand for property in the area. Nottingham and Birmingham also made the list.
The data compiled was based on the number of mortgages purchased by Barclays buy-to-let customers who purchased a property in 2014/2015. While the report did highlight rental price, it has been noted that the data failed to take into account average rental yield per city as an encompassing factor.
Earlier in the week, it was reported that house prices in Trafford, Manchester were rising almost as fast as London. Data from Land Registry showed a yearly increase of 9.1%, making it the largest annual increase compared to any other metropolitan district.
The news followed on from HSBC naming Manchester as its number one buy to let hotspot in the UK for 2015. The data from the banking giant showed Manchester to have the highest rental yield of any other city, averaging at 7.9%.
Graham Davidson, Managing Director at Sequre Property Investment commented on Manchester’s property success:
“As we have known all along, Manchester really is one of the best places in the UK for buy to let investors. The city offers high quality properties in prime locations but at an affordable price. It continues to attract great rental demand thanks to its major universities but also a lot of working professionals thanks to the expansion of the BBC and ITV studios over at MediaCityUK, so it makes for the perfect investment opportunity.”
“Some people may still assume London is superior due to its high rental prices but when comparing how much it costs to actually purchase the property, this is simply not the case. Yields are very low in comparison to the north and now that the potential for capital growth is beginning to dwindle down south, there is little to be gained from investing in London.”
If you're looking for a buy to let investment in Manchester, contact Sequre today. We specialise in sourcing properties in bulk which allows us to offer a discount on the majority of the properties we advertise, allowing instant equity from day one. We have properties across the UK including Manchester, Liverpool, Nottingham and Birmingham, only sourcing the best possible deals on the market for our investors. To find out more, speak to our team on 0800 011 2277.