Investing in Manchester
Often referred to as the Capital of the North, Manchester is bustling with history, multiculturalism and opportunity. A city that never stops growing, Manchester is full of property investment opportunities in the heart of the city and on the outskirts.
The city currently has five universities and has one of the largest and most diverse student populations in Europe, making it an ideal choice for prospective investors. With house prices predicted to decline slightly in 2023, there has never been a better time to add a HMO property to your HMO portfolio.
With the ever-growing demand for student housing and a booming business, fashion & tech sector, Manchester deserves its place as one of the UK HMO ‘hot-spots’. Many young professionals who choose to house-share in the city are former students who cannot bear to be dragged away from the northern hustle and bustle so the HMO sector has grown rapidly in recent years. In the city centre itself there are myriad employers offering young people great salaries and further afield there are still excellent tenants paying better-than-average room rates.
With two huge football clubs in Manchester City and Manchester United, a large social scene in the city centre and a wide range of cultures living within the city, there is so much to love about the city.
Why invest in Manchester HMOs
High Demand for Student Accommodation
Greater Manchester is home to several universities, including the University of Manchester, Manchester Metropolitan University, and Salford University. The city attracts a large student population, creating a consistent demand for student accommodation. Investing in HMO properties in close proximity to these educational institutions can provide a steady stream of tenants, enhancing the occupancy rates and rental yields.
Growing Professional Population
Manchester is a vibrant economic hub with a diverse range of industries, including finance, technology, and healthcare. The city's economy has been growing, leading to an influx of professionals seeking employment opportunities. HMO properties strategically located near employment centres and transportation hubs can attract young professionals looking for affordable and convenient housing options, contributing to a stable tenant pool.
Infrastructure and Transport Links:
The city's well-developed infrastructure and transport links make it an attractive location for property investment. Greater Manchester has an extensive public transportation network, including buses, trams, and trains, making it easy for tenants to commute to work or university. Proximity to transportation hubs and major roads is a key consideration for HMO investors, as it enhances the accessibility of the property and increases its appeal to potential tenants.
Regeneration Projects and Urban Development:
Greater Manchester has been undergoing significant regeneration and urban development projects, enhancing the overall appeal of the city. Areas undergoing revitalisation can experience an increase in property values over time. Investing in HMO properties in neighbourhoods that are part of regeneration initiatives may offer the potential for capital appreciation in addition to rental income. Keep an eye on local development plans and projects to identify areas with growth potential.
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