Manchester has outpaced other northern cities in the UK in terms of its flourishing nightlife, burgeoning student market and extensive regeneration across the city. Low property prices and a thriving local economy is a perfect recipe for residents and investors who wish to reside in the city.
There is no city in competition with Manchester regarding media and creative industries.
London is the obvious choice for a broadcasting corporation, for example. However, the capital has reached its pinnacle in terms of regeneration and progressions within the industries.
Businesses are increasingly looking up north to Manchester as no other city in Europe is investing as much money into this specific sector.
£3.5 billion has been spent creating a global hub for creative industries in Manchester.
And it comes as no surprise that Channel 4 are potentially relocating to this northern powerhouse city to experience lower rents compared to steep prices that are still in a state of increasing in the south.
Hungry new start-ups and large established businesses underpin Manchester’s blooming digital scene providing over 7,000 students with job opportunities in the industry.
Cutting-edge industries located in state of the art buildings plotted around the city amount to the region’s stable and affluent economy.
Ample employment opportunities with competitive salaries and a lower cost of living create Manchester as an enticing prospect and it is evident the city has progressed since its industrial roots.
As the first industrialised city, Manchester has skyrocketed into the limelight over recent years and has grown to become the third largest metropolitan economy in the whole of the UK, showing willing potential to dominate every property investor’s portfolio.
The Northern Powerhouse initiative has helped to firmly establish Manchester as a key player in shaping the future’s economy.
Outstripping its rivals, the scheme has stimulated investment into Manchester significantly and helped to pave the way for advanced transport links and connectivity within the city.
Excellent transport links place Manchester in an ideal location for investors.
The £560 million ‘Northern Hub’ will improve the efficiency of Manchester’s existing rail network, while the £800 million Manchester airport expansion will inflict more jobs into the bustling city.
The creation of HS2, a high-speed railway line connecting the centres of Birmingham, Leeds and Manchester, will reduce journey time between Manchester and the capital from over two hours to just a 1 hour 8 minutes.
Commuters will benefit from the dramatically reduced travelling time and those who live up north will reap the benefits of lower rental costs and higher rental yields as well as convenient, regular access to the hubbub of the capital.
The upgrade in Manchester’s transport infrastructure makes this the perfect time to invest into the city.
Manchester has been pinpointed as the location with the strongest regional rental investment rating in Britain due to low rates, staggering capital growth potential and strong yields, with predictions stating a price increase of 28.2% between 2017 and 2021.
Manchester is surpassing all other northern cities and shows no sign of slowing down.
Investing in property, residential or student, is only beneficial if you determine a location that is in a period of growth, a city expected to come through the ranks and multiply in terms of size, population, job prospects and educational facilities, to name a few.
These all amount to the added attraction for potential tenants.
RW Invest, a leading property investment company based in Liverpool, favour property hotspots in northern locations, such as Manchester, over the rising costs and shrinking yields from London.
You can view their full Manchester property portfolio here: https://www.rw-invest.com/manchester-property-investments/.