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Insight & Opinion

Boom! Manchester tipped as UK buy-to-let hotspot

Author: Gemma

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Research from the property experts at HouseSimple have named Manchester as the area with the most potential for a house price boom over the next decade.

The list – which does not include London – is made up of a selection of towns and cities across England. The ranking has been ordered based on property price predictions over the next 10 years.

A spokesperson commented: ‘With property prices in London reaching an extortionate high, investors are beginning to look to other areas of the country to dip into.

‘With the average UK home now valued at £204,674, and with house prices rising, buyers could potentially buy cheap in these up-and-coming areas and watch the value of their property grow quickly over time.

Top 10 UK buy-to-let hotspots:

1) Manchester
2) Rotherham
3) Harborne, Birmingham
4) Leicester
5) Hythe, Kent
6) Norwich
7) Hove
8) Ipswich
9) Ilkley, Bradford
10) Woking, Surrey

Manchester’s Media City, it’s large proportion of 20-30 year-olds and it’s 105,000 student population have been cited as reasons behind its high ranking on the list.

The online estate agent has also pinpointed a list of things to look out for to help identify a UK buy-to-let hotspot.

‘Tell-tale’ signs that landlords and investors should keep an eye out for include some or all of the following…

• Independent food stores/restaurants
• The arrival of real estate agents
• Good transport likes (near tube/train line even if you need to go a little further out of the town or city centre)
• Young professionals
• Low crime rates
• Local shops, banks, schools etc.
• Celebrity neighbours

This is not the first time Manchester has been named a UK buy-to-let hotspot. The city was previously named as the UK’s number one location for buy-to-let returns by HSBC.

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