Manchester overtakes London as top city for property investors, data finds – The Intermediary
Research found 23% of investors using The Property Buying Company’s app searched for property in Manchester, compared to 18% who set their preferences for London.
Manchester overtook London as the most in-demand city for property investors, according to internal data from The Property Buying Company.
Research found that 23% of investors using the app searched for property in Manchester, compared to 18% who set their preferences for London.
Liverpool and Birmingham followed with 8% and 7%, while Luton and Nottingham attracted 3% each.
The findings showed a shift in priorities with investors looking for reliable tenant demand, capital appreciation and long-term economic growth.
Average rents in Manchester rose by 3% in the past year to £1,349 per month, with the city offering a gross rental yield of 6.6%.
London rents increased by 3.4%, but rental yields stood at 5.1%.
The North West remained the most sought-after region, with 18% stating it as their preferred location for investment.
London property prices fell by 2.1% over the last year, while prices in the North West increased by 0.8%.
Karl McArdle, co-founder of The Property Buying Company, said: “Despite not promising the highest rental yield, Manchester has established itself as one of the UK’s most attractive investment opportunities.
“Our data shows that demand for property in Manchester is nearly three times higher than in Liverpool and more than three times higher than in Birmingham, despite the latter two offering more enticing rental yields of 7.7% and 6.4%, respectively.
“The city ticks a lot of boxes for investors, with a growing population, high rental demand, ongoing regeneration projects, several universities and major employers all helping to attract students and young professionals.”
McArdle added: “Manchester has evolved from being an alternative to London into a destination investors actively prioritise.
“The gap we’re seeing in demand suggests many investors now view the city as one of the safest and most attractive places in the UK to put their money, thanks to its long-term growth prospects, continued economic investment and stable rental demand.”
