Manchester has recently been voted as one of the the top cities in Britain for investment in rental property by Savills. The city offers much to the investor, in terms of strong economic growth prospects, excellent NET rental returns and capital value growth, alongside a vibrant, desirable community, that offers an exciting place to live and work.
Manchester has a booming buy-to-let sector due to a young population, with an average age of 27 and a massive 29% of the city's population now living in privately rented accommodation. As graduates and young workers relocate to the city, rents are also set to increase, with a 7% year on year rise in Manchester City Centre in the period to February 2016. As such, Manchester offers an excellent opportunity for those looking to rent out high-quality residential property to a generation of people that are actively choosing to rent their home.
With better job prospects, rising wages and a more stable economy, house prices are predicted to surge in Britain in the period to 2020, with Manchester seeing some of the most dramatic increases. In 2015, Manchester recorded it's highest rate of house price growth in 2007, achieving a buoyant 5.6% increase. Buying a residential buy-to-let property in Manchester means investors will benefit not only from substantial rental yields, but also excellent capital growth.
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