Manchester is the UK’s top buy-to-let hotspot, according to research carried out by HSBC, which found the city to offer the best rental returns.
Annual rents in Manchester have risen four per cent from 2014 to 2015 and although there has been only a modest increase in average house prices in the city - up from £104,244 in 2014 to £108,870 – rental demand in Manchester has remained strong.
Sarah Boyle, manager of property specialist Leaders’ Manchester branch said: “I am pleased but not surprised to see that Manchester has been identified as having the strongest performing buy-to-let market in the country. Leaders – formerly Jordan’s – has been letting property here in Manchester for more than two decades and we are well aware of the ongoing rental demand and opportunities for investors. Manchester has one of the largest student populations in Europe and more than a quarter of housing stock here is privately rented.
“Buy-to-let in Manchester remains an attractive option for investors, particularly now that the election is behind us and the future of the private rented sector looks more stable.
“There are plenty of excellent opportunities for investor landlords in the city but it is important to do your homework first, to identify the locations and property types that will give you the best return for your budget and will meet your investment goals. Before investing you should always consult a professionally qualified expert such as Leaders, who can give you impartial and accurate advice on property values, rental returns and market conditions, which can vary dramatically from one road to another, even in the same area.”
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