Manchester Property Prices

Why are Prices Rising?

There are a number of factors causing the increase in property prices in Manchester. One is the city’s thriving economy, which is attracting new businesses and residents. Another is the city’s growing reputation as a desirable place to live, with a vibrant culture and plenty of amenities. These amenities include luxury shopping experiences, friendly eateries, and incredible event spaces.

The increase in property prices means while investors may have missed out on the lowest price, there is still an opportunity to benefit from capital appreciation. If an investor secures a great property in Manchester now, they can still take advantage of the growing interest in the area. Furthermore, while property prices are rising, it is still under half of the average property price in London, which exceeds £500,000.

What to Watch Out For?

The market is very competitive, and properties are often snapped up within days of being put on the market, so investors need to act fast to secure their units. To avoid this, using an investment agent the investor could secure an off-market opportunity, with low competition. Therefore, the investor has more time to consider their investment strategy and work with the agency to make sure the property is profitable.

Property prices in Manchester have risen rapidly in the past 5 years. Therefore, investors must act sooner rather than later to secure property at the best price. While the property is at a reasonable price right now, prices are forecasted to continue to rise in key areas. Additionally, regeneration in Manchester is ongoing, making it one of the UK’s most exciting buy-to-let areas.