With the current economic conditions, many investors are asking if UK property is still a good investment.
In short, the answer is "yes", but with a caveat that buy-to-let investors need carefully select areas where they invest into a property.
At Regency Invest , we recommend buy-to-let property in key Property Hot Spots where features that include:
Manchester remains the #1 choice in the UK for property investors due to its continued high rental and capital growth in recent years, far outperforming the national average.
Manchester experienced 9.3% annual price growth from May 2022 to May 2023, showing its resilience. Furthermore, industry experts forecast a further 19.3% price growth over the next 5-years which looks set to be exceeded!
Manchester's rental market is extremely buoyant, with the leading lettings agent in Manchester reporting over 18,000 requests for viewings in under 30-days!
Rental values in the city increase by 4% in 3-months with industry experts expecting a 21.6% increase in rental values over the next 5-years providing investors with a high-yielding investment.
During the pandemic, there was a trend of renters demanding larger properties as they were working from home, moving further out of city centres for properties with gardens and green space. The current trend is a reversal of this “race for space” as renters re-assess their priorities, demanding homes closer to city centres creating an Urban Revival. Click here to read more.
One of our most popular developments in Manchester completed in the first week of July 2023 and is now 90% tenanted in less than a month! This is indicative of the huge level of rental demand in the city.
Large companies have opened up offices, or, relocated to Manchester from the south to reduce costs and access Manchester’s talent pool, termed “North Shoring”, including BBC, Amazon, Freshfields, Microsoft, AstraZeneca, Siemens, Ericsson, Google, Kellogg’s, Barclays, Royal Bank of Scotland. 82 of the FTSE 100 companies having a base in Manchester.
This has opened up huge employment opportunities for Manchester’s population, which has seen the fastest growth rates of jobs in the UK at 84% growth (1998-2015),followed by Leeds, Birmingham and Liverpool (Centre for Cities).
Manchester is now home to MediaCityUK, the largest purpose-built media location in Europe, home to major broadcasters including the BBC and ITV. Manchester’s new central business district, Spinningfields, is known as the “Canary Wharf of the North” with big name tenants from the financial community, including PWC, Deloitte, HSBC and Barclays.
Greater Manchester is the third largest regional economy in the UK, comprising of key employers with annual Gross Value Added (GVA) of £66.4 billion. Manchester is one of the main players in the government’s Northern Powerhouse initiative, with regeneration, improved infrastructure and connectivity with London, providing a major boost to its economy.
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