No matter the reason you have for buying property, you are making a major investment. You may be investing to make money in the short term, the long term, or you may be using your money to ensure that you and your loved ones have a place to stay and call home. In that regard, the emotional investment is much more important than the financial investment but many people find that there is a chance to benefit in both ways. As long as you feel you are getting a suitable return on your investment, it doesn’t really matter if it is financially or emotionally but such is the way with life, if you can guarantee a financial return, other parts of life become easier.
This is why more and more people are looking to invest in Manchester property because the rental market is looking good. It should be said that this isn’t just the case for Manchester or the Greater Manchester region, rental opportunities are on the rise across the country. The monthly rental rate rose to a level of £791, for the 12 months leading to March 2016, and a lot of property market experts and analysts believe that rent increases will continue in the months to come.
There are many different reasons why there is likely to be a rise in rental rates but demand for rental property and landlords re-evaluating their finances in light of a number of tax changes indicates that rental rates are set to keep on climbing. Which isn’t great news if you are renting property but if you own the property that is being let out, you should find that this is of tremendous benefit.
Manchester was top of the list for investment yields
In 2015, Manchester was classed as the number one city in the United Kingdom for property investment yields, in a study undertaken by HSBC, and the optimism around the city remains as high. There is a growing movement away from London for property investors and Manchester’s business and cultural benefits make it one of the key places for investors and tenants alike.
While many people raised concerns about changes to buy-to-let taxes and the potential impact it could have on landlords and investors, it seems as though developers are not concerned. Fortis Developments have announced that they are looking to double their current presence in the Greater Manchester region. When you consider they already have a £100m development lined up, there is a lot to suggest that the build-to-let market in Manchester is still booming, which has to be seen as great news for people who are involved with the Manchester property market.
Whether you are looking to obtain a financial or emotional return when investing in Manchester, this is a boom period.
For all your property needs, please contact Spencer Harvey Estate and Letting Agents on:
0161 480 8888
https://www.spencerharvey.co.uk