Manchester has a long list of accolades to its name, and this city in North West England continues to position itself as a top international city. With its property market going from strength to strength and the liveability of the city continuing to improve, more people are moving to Manchester and enjoying what this city has to offer.
Most attractive UK city for buy-to-let
Landlords recently named Manchester and London as the most attractive buy-to-let cities in the UK for 2020, according to a survey by Simply Business. The population of Manchester is forecast to rise significantly with an extra 100,000 people predicted to be living in the city centre by 2025. Manchester is expected to remain an attractive choice for buy-to-let landlords and investors in the coming years with property prices and rental yields forecast to increase.
The city’s strong student population and growing job opportunities are likely to continue to boost demand in the rental market. Students, graduates from Manchester universities, and young professionals are driving the need for more housing throughout Greater Manchester. As the city is in the middle of an urban living renaissance, high-quality housing continues to be brought forward in the city centre.
Top property investment hotspot
Manchester has been put on numerous top property investment hotspot lists for 2020. This shows a significant amount of people in the property investment industry feel the city is slated for even more growth throughout 2020 and the coming years.
Savills forecasts property prices in the North West will rise by 24% during the next five years. This is expected to be the biggest increase across the UK. Prices are also predicted to rise by 2.5% during 2020 alone. As demand in the rental market continues to grow, rental yields are also expected to remain high in Manchester.
Most liveable city in Britain
As a thriving city in the North, Manchester was named the most liveable city in Britain by The Economist “Global Livability Index”. The city has even held the top spot every year since the index launched in 2011.
More and more London-based people and businesses are moving to Manchester, a city offering strong career prospects, a range of high-quality residential properties and numerous top-notch cultural and entertainment offerings.
Manchester is even fourth on the list of UK cities with the most green space, according to Telegraph Property. At the time of the research undertaken in 2019, there were 662 parks and green spaces in the city. Green space often makes an area more liveable and attractive to live in, improving locals happiness.
One of the top cultural cities in the UK
As its cultural offerings make it an especially liveable city, Manchester was named the third most cultural city in the UK, according to an index by Premier Inn. An extra £200 million worth of investment is even being put towards culture across Greater Manchester with several major projects expected to be completed in 2020.
As major cultural exhibits, re-openings and events are currently in the pipeline, these new offerings will further boost Manchester as a world-class city of cultural significance and is likely to bring more people to the city whether to live or for a visit.
As a world-class city in a league of its own, Manchester is expected to see even more growth in the coming years. This is likely to further boost the city’s property market, liveability and investability in not only a regional and national scale but on an international scale as well.