Your buy-to-let investment journey could take you to many places – but as you look for the next big opportunity, you should be particularly careful not to overlook Manchester. The North West city has recently been recording some of the highest rental yields in the country.
As the jewel in Greater Manchester’s crown, the city clearly has much to recommend it. Manchester is not only a thriving cultural and sports hub for its 3.2 million residents, but also a magnet for students. This helps to explain why it can bring major returns for buy-to-let investors.
Greater Manchester properties are truly… greater
In January, the property investment portal One and Only Pro used a unique algorithm to rank the UK’s 172 highest-yielding buy-to-let locations. Factors like property prices and demand were considered as One and Only Pro calculated that the North West was the best-performing region.
The research saw investment properties assigned scores from one to 10, with the highest scores for properties likeliest to rise in value. The top score went to the Greater Manchester city of Salford, where properties are relatively cheap to buy but command comparatively high rents.
It’s time to act on exciting opportunities in Manchester
Yields look especially impressive if we turn our attention to Manchester proper. The comparison site TotallyMoney researched more than 580,000 properties across England, Scotland and Wales to discern which postcodes offered the best buy-to-let returns.
Some of the highest yields for buy-to-let investors were found in the M14 postcode area, which includes the student hotspots of Moss Side, Fallowfield and Rusholme. In this postcode area, asking prices have averaged at £194,733, while average monthly rents have hit £1,636.
That all adds up to a rental yield of 10.1%. Not far behind is the yield of 8.6% recorded in the M19 postcode area; both M14 and M19 are in the list of top 10 postcodes by this measure.
Tap into the astounding yields possible in northern England
As a landlord, you can rest assured that the yearly stream of new students in Manchester could significantly help you to minimise void periods.
From April 2019, our team here at Yellow Oak Inventories LTD will also be able to provide property inventory in Manchester to help you to track the condition of your properties in the city.
Such services will build on the formidable reputation that we have already built among property owners in London, while helping you to make the most of your own investment in North West England.