We have seen that the uncertainty we are facing in our political landscape has brought growth in the London property market to a steady halt – however, despite this we continue to see the Manchester market flourish. A number of our landlords have invested in one and two bedroom apartments in Manchester and Salford and we are pleased to report, they are taking advantage of 6% plus yields.
Vesper Homes’ clients that are still keen to invest in property are now looking for alternative locations to London to invest. Manchester has grown substantially over the last few years, developing from being a city with a large student population to one with growing population of young professional which is aiding the rental market. A number of employers are relocating to Manchester to reduce costs and are subsidising employees rents in order to attract talent from London to the north of the country. With mortgage rates at an all time low there are some great buy to let rates which can be availed of.
Entry prices in Manchester start from £250,000 for a 1 Bedroom apartment and £290,000 for a 2 bedroom apartment. At Vesper Homes we suggest buying a 2 bedroom apartment to benefit from the maximum rental income.
If you would like to find out more in relation to this do not hesitate to ask one of the team.