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Manchester set to beat virus uncertainty and remain top investment hotspot

Despite the uncertainty caused by the coronavirus pandemic, Manchester is set to continue as one of the UK's top buy-to-let investment locations.

Residential Estates, based in Chester, says that the North West city will outperform rival investment locations for a variety of reasons.

First, it points to Manchester's property prices, suggesting that the city is still expected to record 4.1% growth this year, compared to the UK average of 2.9%.

The agency also suggests that Manchester's price growth of over 22% since 2014 sets it apart as a stable and long-term investment location.

What’s more, Manchester is the city which spearheads the government's Northern Powerhouse Partnership - another reason why investors, tenants and business will continue to be drawn to the city.

"About six years ago, it was Manchester where companies such as Google, Amazon, and Microsoft opened new offices in and around the city, as they identified Manchester as a strong location for supply chains, labour, and cheaper rates than the capital," explains Jason Guest, business and marketing manager at Residential Estates.

He says that with over 250 media and digital businesses choosing Manchester as their base in recent years, there has been a positive impact on the city's reputation as the place for companies to settle in the north of England.

"This has had a big effect on the property and investment market, boosting prices, but bringing with it the demand for rental housing from employees," says Guest.

"This will provide a solid base for investors for years to come."

Poll: Will Manchester continue to be a major investment hotspot post-pandemic?

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