Best Areas to Invest in Manchester

Category: Manchester

Manchester is a city of vibrant contrasts, offering a wide array of neighbourhoods. Whether you're drawn to the city centre lifestyle or the tranquillity of suburban locations, Manchester has something for every lifestyle and preference.

Here's a look at some of the best areas to invest in Manchester:

Author: Sophie Hope

Digital Marketing Executive

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Trafford

Trafford is quickly emerging as a highly desirable area for those seeking a vibrant yet more relaxed alternative to city-centre living. With a diverse range of amenities just a short commute away, it’s an attractive location for a range of buyers. Its strategic location on the metro line connects residents effortlessly to key destinations, including Manchester city centre, the Trafford Centre, and Manchester Airport. As major regeneration projects continue to transform the area, and with demand on the rise, Old Trafford presents a golden opportunity for investors looking to capitalise on its growth potential in the coming years.

Trafford’s economic strength further elevates its appeal. The area is home to over 120,000 registered businesses, with a working population of 2 million, making it a magnet for professionals and job seekers. In the last record in 2008, Trafford Park alone housed 1,400 businesses, this number has now largely surged. Nearby, Salford Quays and MediaCityUK stand as prime examples of successful regeneration, offering a dynamic mix of residential developments, commercial opportunities, and leisure attractions. These zones are also home to several new apartment complexes, making Trafford an attractive choice for modern living.

Old Trafford is known not only for its economic growth but also for its world-famous sporting venues. The iconic Old Trafford Stadium, one of the largest football grounds in England with a seating capacity of 74,310, welcomes around 2.5 million visitors annually. Adding to this is the renowned Emirates Old Trafford Cricket Ground, the second-largest international cricket venue in the UK, drawing around 450,000 guests each year. These world-class attractions continue to fuel both tourism and local communities, making Old Trafford one of the best areas to invest in Manchester.

Selling Fast

Victory Place

Manchester

Yields: 6.65%

Prices from £204,905

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Salford

Salford is a dynamic and thriving hub, best known for being home to MediaCityUK and its unique blend of urban sophistication and natural beauty. Offering a balance between city living and green spaces, Salford is one of the UK’s most environmentally friendly cities. With a strong sense of community and a range of amenities, it attracts a diverse range of residents. Affordable housing options make it especially appealing to first-time buyers and professionals seeking easy access to Manchester city centre, while still enjoying a vibrant and scenic location.

Salford’s reputation as a leading industrial city is driving rapid growth, making it one of the best areas to invest in Manchester. The city is experiencing rapid population growth, rising by an impressive 15.4% between 2011 and 2021, the fastest rate in the North West. This surge is matched by remarkable property market growth. Over the past decade, Salford’s average property prices have soared by an impressive 289%. In the 12 months leading up to March 2023, property prices climbed by 4%, adding an average of £8.4k to property values.

With an average property price of £225,633 and strong rental yields of 5.7%, Salford is increasingly becoming a hotspot for savvy investors. The city’s growth in both population and property value makes it a prime destination for those looking to capitalise on its future potential.

Ancoats

Nestled just beyond the Northern Quarter, Ancoats has transformed into one of Manchester’s most sought-after and vibrant neighbourhoods, especially among young professionals. With its thriving nightlife, trendy bars, and a diverse range of restaurants and cafés, the area offers a perfect blend of culture and modern living. Many know Ancoats for its mix of historic converted mills and river-facing apartments, all relatively priced compared to other similar areas.

Ancoats is usually described as one of the coolest areas of Manchester. This is the result of a 30-year project to turn the former industrial wasteland into one of the most appealing locations for new businesses, tourists, and residents.

Ancoats now commands some of the highest demand for property in the city, particularly among young professionals. Property values in this area are among the strongest in the UK, with capital growth exceeding 5% in the last year alone. The average property price stands at £297,846, making Ancoats not only a vibrant place to live but also a lucrative investment opportunity for those looking to tap into Manchester’s growing property market.

Luxury Apartments

Waterhouse Gardens

Manchester

Prices from £337,500

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City Centre

Investing in Manchester City Centre presents a compelling opportunity for savvy investors, offering access to one of the UK’s most dynamic property markets. The city’s vibrant lifestyle attracts a broad range of tenants, from young professionals and students to those seeking the excitement of urban living. This diverse tenant pool ensures high demand, reducing the risk of vacancies and enhancing rental yields.

The city’s growth further highlights its investment potential. Manchester’s city centre population is set to soar, with predictions to reach 60,000 by 2027. This is an astounding increase from just 6,100 residents in 2002. This rapid expansion is supporting the city’s growing appeal, economic resilience, and its transformation into a thriving City. A strong job market and consistent economic growth add to Manchester’s appeal. Making it one of the highester ranked best areas to invest for individuals seeking long-term returns in both capital appreciation and rental income.

Property prices in Manchester city centre range from £234,000 to £292,000, offering excellent value given the area’s high demand. Rental yields average between 5.2% and 5.7%, solidifying Manchester as one of the UK’s most promising property investment destinations, with the potential for growth in the years ahead.

Wythenshawe

Wythenshawe is often recognised for being one of Manchester’s greenest areas. Offering a rare combination of natural beauty and urban convenience, makes it an attractive option for those who are looking for open spaces and affordability. With its large amount of parks and green areas, Wythenshawe provides a peaceful retreat from the city’s busy lifestyle while maintaining excellent transport links, offering quick access to Manchester city centre and beyond.

In addition to its unique setting, Wythenshawe is home to a wide variety of amenities, holding a strong community. The area benefits from being strategically located near Manchester Airport and Wythenshawe Hospital, both major employers that drive local economic growth and supply a large demand for housing. This has made the area desirable to professionals and families seeking affordable living with excellent job opportunities nearby.

Wythenshawe’s housing market remains highly accessible, with average property prices standing at £247,541 over the past year. As the area continues to grow and attract new residents, it offers an enticing opportunity for investors and homebuyers alike, combining affordability with the promise of long-term capital appreciation. This area is an upcoming as a great area to invest in Manchester.

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