Right now, Manchester has faster house price growth than any other UK city ‒ rising 8.8% over the last 12 months according to data from Hometrack ‒ and demand for housing in the city is only going to increase as the population grows.
Here’s our top 11 reasons to invest in Manchester:
1. Manchester’s property prices are rising quickly
Manchester has received considerable inward investment, making its economy bigger, stronger and more diverse, and property prices are rising in line with this trajectory. Alliance Investments has stated that the city is set to become a separate power-base outside London with a £300m annual budget, while Irwin Mitchell’s UK Powerhouse report announced that, in this quarter alone, employment has risen by 1.7%.
2. The Northern Powerhouse
Manchester has become the capital of the massive regional economy dubbed the ‘Northern Powerhouse’ thanks to an improving jobs market and record low mortgage rates. It is one of many Northern cities that are now overtaking the level of growth and sales seen in London and other areas of the UK. The British government is also recognising the huge untapped potential of these cities, pouring £13 billion into transport, £70 million into the Northern Powerhouse Schools Strategy and allocating £3.4 billion in Growth Deals to the Northern Powerhouse.
3. Transport Infrastructure
An excellent selection of transport links place Manchester in the perfect location for investors. Victoria Station – just 800m from The Hallmark – boasts regular connections to Liverpool, Leeds and Newcastle. In addition, journey times from Manchester Piccadilly to London Euston are only two hours long, and this is set to be cut to an hour with the proposed HS2 extension. The £560 million ‘Northern Hub’ project will improve the efficiency of Manchester’s existing rail network, while the £800 million airport expansion will bring more jobs to the bustling city. Future investments in Manchester’s transport infrastructure make this the perfect time to invest in the city.
4. High demand for rented accommodation
Manchester’s population growth is currently three times the national average and the city is now drawing in an increasing number of young professionals. The housing market has struggled to keep up with this, making the demand for high quality housing in the city centre higher than ever. So, if you want to make the most of low rates, capital growth and rental yield in this buoyant market, now is the time.
5. Booming economy
Greater Manchester’s population of 2.73 million people combined with its growing economy make it the largest economic hub after the capital. With 80 of the FTSE 100 having set up a presence in Manchester, some of the biggest companies in the world are now being drawn in. This combined with growth in the financial services, engineering, media and technology sectors, along with the £650 million Media City Business hub, contribute to a property market that currently outperforms the rest of the UK.
6. Growing demographic of students and young professionals
The number of students remaining in Manchester after graduation, and the significant increase in the creative and digital industries, have drawn in an ever-growing demographic of young professionals. In addition, the University of Manchester is one of the world’s top 100 and the city’s five universities attract 95,000 students a year. The impact this has had on the number of young professionals renting homes in the area means that property investment in Manchester has never been so lucrative.
7. Excellent investment opportunity
Manchester has been highlighted as the location with the strongest regional rental investment rating in Britain, thanks to its low rates, capital growth potential and strong yields. With JLL predicting price increases of 28.2% between 2017 – 2021, Manchester is quickly establishing itself as the country’s new investment hotspot, especially buy-to-let investors, presenting an alternative for those frustrated with London’s rising costs and shrinking yields.
8. Prime location
Often highlighted as the gateway to the North of England, Manchester has the perfect placement for culture, arts and entertainment. Many of the nation’s best small-name stores, high end restaurants and longstanding museums are right on the threshold of The Hallmark. The city is also home to world renowned specialist universities, including The Alliance Manchester Business School, pulling in around 95,000 students, eager for a first-class education.
9. Why The Hallmark
The Hallmark’s luxury apartments offer great potential for yields and a capital growth. Demand for rental homes in Manchester is high and set to increase further, with population growth being three times the national average and a growing number of former students choosing to remain in Manchester after graduation. The city is also predicted to have the highest capital growth in the country over the next five years, making The Hallmark an excellent investment opportunity.
10. Ideal for tenants
The Hallmark sets the standard for the ultimate in urban living, comprised of a stunning collection of 145 luxury 1, 2 & 3-bedroom apartments and penthouses. It comes with a host of attractive features such as a concierge, private residents’ courtyard and access to a landscaped rooftop terrace. Apartments also come complete with contemporary, high-specification interiors, setting the tone for the exceptional standard of living at The Hallmark.
11. Forty/8 is offering an easy way to enter the Manchester market
With completion due 2019, we have introduced The Hallmark to the market with a two-year lead. This allows our investors to take advantage of the opportunity to capitalise on Manchester’s increasing house prices as early as possible with only a 10% deposit and nothing more to pay until completion. Buy-to-let investors who purchase apartments at The Hallmark now are set to gain excellent rental yields. Forty/8 are also offering a guaranteed 7% interest on deposit from exchange to completion, far more than what you would expect to get in an ISA.
What your next move should be
The next Hallmark open weekend is at The Park Inn on Cheetham Hill Road Friday 17th – Sunday 19th November 10am to 5pm. Please join us to see The Hallmark Exhibition and experience our Virtual Reality tour of the apartments. Contact us to make an appointment.
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