Manchester Area Guide
Considering Manchester as your next buy to let property investment location? Unsure where to begin your search, what areas to avoid and where best suits your investment strategy and goals? Hopefully this Manchester area guide for property investors will give you an insight into the different areas and type of properties on offer.
Manchester is a major city in the northwest of England with a rich industrial heritage. Known as the second city in England, a vibrant city boasting diversity and opportunity with ambitious plans for the future.
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Greater Manchester, metropolitan county in northwestern England. It encompasses one of the largest metropolitan areas in the country and comprises 10 metropolitan boroughs: Bolton, Bury, Oldham, Rochdale, Stockport, Tameside, Trafford, Wigan, and the cities of Salford and Manchester.
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Each borough is made up of various towns and villages, so looking for a buy-to-let investment property in Manchester and its many boroughs can be challenging if you are not familiar with the areas. Property Guru are experts in the buy-to-let investment sector of Greater Manchester and are here to help!
Depending on your property investment goals, strategy and budget will dictate greatly where you are able to invest in Manchester. For the purpose of this Manchester area guide we will concentrate on buy-to-let investment options. Manchester also provides plentiful opportunity for HMOs, Social Housing, and Serviced Accommodation.
Buy to let property investment hot spots in Greater Manchester among our clients include:
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Tameside: Great areas for capital appreciation and monthly cash flow. Yields of around 5-6% gross to be expected.
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Oldham: Relatively low purchase prices with fantastic gross yields of 7% and above in the right areas. Prices have risen sharply as have rents.
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Stockport: Whilst rental yields aren't as high as some areas, there is a lot of investment going into the area with house prices rising considerably.
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The borough of Tameside covers the towns of: Ashton-under-Lyne, Audenshaw, Denton, Droylsden, Dukinfield, Hyde, Mossley and Stalybridge.
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Areas and suburbs of Stockport include: Adswood, Bramhall, Brinnington, Bosden Farm, Cale Green, Cheadle, Cheadle Heath, Cheadle Hulme, Davenport, Edgeley, Gatley, Heavily,Heald Green, Heaton Chapel, Heaton Mersey, Heaton Moor, Heaton Norris, Marple, Marple Bridge, Mellor, North Reddish, Reddish Vale, Romiley, Shaw Heath, South Reddish, Stepping Hill, Strines, and Woodsmoor.​​​
Closer Look: Oldham
The Oldham property market is often overlooked in favour of nearby Manchester, but Oldham is an area savvy property investors should take a look at. Property Guru's Director, Simon has been investing in flips and buy-to-lets in Oldham for many years and has seen exceptional growth in not only selling prices but rents as well.
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New figures by Zoopla Property Group show house price growth in Oldham sits in line with Manchester, but marginally above the national average rate.
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Tenant demand for housing remains significantly high with 2-bed terrace properties now reaching £775pcm. High rent and relatively low purchase prices make for great returns on investment, typically over 7% gross.
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Data for Oldham shows house price growth is currently sitting at 9.3%, broadly, in line with the 9.5% figure seen in Manchester but marginally above the 8.3% UK average.
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University Campus Oldham opened in May 2005 bringing higher education courses to the people of Oldham. This has allowed thousands of students to access Higher Education close to home.
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Metrolink provides a fast and easy alternative to travelling by car, with no need to worry about where to park at the end of your journey – it takes less than 30 minutes to get from the centre of Oldham to Manchester city centre!
Closer Look: Tameside
Tameside is a metropolitan borough of Greater Manchester and includes the towns of Ashton-under-Lyne, Audenshaw, Denton, Droylsden, Dukinfield, Hyde, Mossley and Stalybridge.
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The Borough of Tameside lies to the East of Greater Manchester, stretching eastwards from the urban hub of Manchester to the moors of the Peak District. Tameside shares borders with Oldham, Manchester, Stockport and the Derbyshire Borough of High Peak.
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The average sold price for a property in Tameside in the last 12 months is £197,553.
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The borough is very well-connected with major transport links such as Metrolink, bus routes and trains joining each town to Manchester centre.
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Ashton-under-Lyne is home to Tameside General Hospital and A&E, bringing a wealth of jobs to the area. OL7 area is popular among tenants looking for 2 bedroom terrace and 3 bedroom semi-detached homes.
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Ashton-under-Lyne, Droylsden and Denton have seen a surge of interest from buy-to-let property investors in recent years looking for good yields and capital appreciation from their investment.
Conclusion
The ever-changing skyline of Manchester really is a sight to behold and definitely adds to the charm of the city. There are seemingly new tower blocks appearing weekly, the next taller than the last!
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With such development in Manchester City Centre and Salford Quays, alongside more corporations moving north from London, demand for housing is at an all time high. In addition, the pressure grows on the suburbs due to the great transport links to the city centre, so demand for housing pushes from the centre out.
As more people work from home, want gardens and to start a family, the suburbs become an excellent place to invest and achieve a good return on investment through rental yield and capital appreciation.
Whilst it can be a little daunting discovering a new area for the first time, especially when investing your hard-earned savings and capital, the Property Guru team are expert property sourcing agents in Manchester and can answer any questions you may have.
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The Greater Manchester region offers impressive opportunities for property investors but it is important to carry out your own research and due diligence on areas, streets and property values. You can get higher rental yields in other areas of the country, such as the northeast so it all depends on your investment strategy and budget as to where you can and should invest.
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From buy-to-let property in Manchester to flips, BRRR deals, to HMOs. We source it all.
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To arrange your free, no obligation investment call just fill out the contact form below and the Property Guru team will be in touch.
