Best areas to invest in property in Manchester

Looking to invest in Manchester for maximum ROI and rental yield benefits? Discover the top buy-to-let and rent-to-let property investment opportunities available in Manchester today.

Best areas to invest in Manchester

1. Ancoats

Ancoats offers strong property investment potential in 2024, driven by urban regeneration and high demand from young professionals, promising value appreciation and solid rental yields.

• Housing: Mix of converted warehouses and new builds; mid to high-range prices
• Amenities: Trendy cafes, independent shops, Cutting Room Square
• Transport: 10-minute walk to Piccadilly station, good bus connections
• Notable: Named ‘hippest’ area in the UK; ongoing regeneration attracting young professionals

2. Manchester City Centre

Manchester City Centre presents strong property investment potential in 2024, driven by high rental demand, a projected 19.3% price growth by 2027, and ongoing regeneration.

• Housing: Mix of luxury apartments, converted warehouses, and penthouses; mid to high-range prices
• Amenities: Major shopping centers, restaurants, bars, Manchester Arena, Central Library
• Transport: Excellent connectivity with Piccadilly and Victoria stations, free bus service, extensive tram network
• Notable: Heart of Manchester’s business district; constant development and high rental demand from young professionals and students

3. Castlefield

Castlefield presents strong 2024 property investment potential in Manchester, with ongoing regeneration and a mix of residential and commercial developments.

• Housing: Converted warehouses, modern apartments; mid-range prices
• Amenities: Castlefield Bowl, numerous bars and restaurants, canal-side walks
• Transport: Deansgate station nearby, good tram connections
• Notable: Conservation area with Roman fort ruins; popular for waterside living

4. Salford Quays

Salford Quays offers affordable properties, strong rental yields, and ongoing regeneration, making it a prime investment opportunity for 2024.

• Housing: Modern apartments and townhouses; range of prices
• Amenities: The Lowry, MediaCityUK, watersports center, shopping mall
• Transport: Multiple tram stops, good road links
• Notable: Home to BBC and ITV studios; continued development driving property demand

5. Northern Quarter

The Northern Quarter in Manchester offers excellent investment prospects in 2024 due to low supply, high demand, vibrant culture, and ongoing regeneration projects.

• Housing: Converted lofts, new apartments; mid to high-range prices
• Amenities: Quirky boutiques, street art, vibrant nightlife, Afflecks Palace
• Transport: Close to Piccadilly and Victoria stations, good bus routes
• Notable: Creative hub attracting artists and entrepreneurs; steady appreciation in property values

What is the average rental yield in Manchester?

The average rental yield in Manchester is approximately 5.6%, based on data from propertydata.co.uk. The highest rental yield recorded is 7.8% in the M14 postcode district, while the lowest is 3.5% in the M21 postcode district.

Contact Pluxa Property to explore all property investment opportunities in Manchester

Considering property investment in Manchester? Pluxa Property can make it happen! With over 10 years of experience, we offer top investment opportunities, including buy-to-let, rent serviced accommodations, Brrr, and overseas property investment.

Joined over 200 successful investors who have trusted us to enhance their portfolios. Contact us today to see how we can help you achieve your investment goals and guide you through the process.

FAQs

Is Manchester a good place to invest in?

Manchester is an attractive investment destination due to its robust economic growth and strong rental yields. The city’s GDP has grown by 240% since 2000, and it is expected to reach £58.4 billion per annum by 2035. With average rental yields outperforming many other UK cities, Manchester offers high opportunities for buy-to-let investors. The city’s ongoing regeneration projects and high demand from young professionals and students further enhance its appeal for real estate investments.

What is the average monthly private rent in Manchester?

As of June 2024, the average monthly private rent in Manchester has risen to £1,228, marking a 12.3% from £1,094 in June 2023. This growth outpaces the overall increase in the North West, which saw a 9.5% rise during the same period.

Is Manchester a good place for rent to let?

Manchester is an excellent location for buy-to-let investments in 2024. The city offers average rental yields of 5-9%, the highest in England outside of London. With rents rising by 19.6% over the past year and further growth of 21.6% predicted by 2027, Manchester has very good opportunities for landlords. The average monthly rent in Manchester was £1,228 in June 2024, a 12.3% increase from the previous year.

What is the estimated payback period for rent to rent in Manchester? 

The estimated payback period for Rent to Rent in Manchester is approximately 8 months, according to Pluxa Property. This timeframe is based on typical market conditions and investment strategies in the area.

How much initial investment do you need to invest in Manchester for rent to rent?

Investing in a rent-to-rent deal in Manchester through Pluxa Property requires an estimated initial investment of £10,145. This could generate an estimated monthly profit of £1001, leading to a total profit of £36,036 and an impressive ROI of 477%.