The latest statistics released by Hometrack who analyse house price trends across 20 of the UK’s largest cities put Manchester on top for capital appreciation on property investments. Dubbed the largest power-base next to London, the northern location overtakes southern destinations with recorded price inflation over the last 12 months as high as 7.7 per cent. Compared to rival property hotspot, London, where house price growth was only 0.8 per cent in the same period, it’s clear that Manchester is leading the way for the most lucrative property investments in 2018.
The data from April this year shows how Manchester’s positive growth has been consistent over the last three months as well as the past month respectively, with incremental bursts beating fellow northern hotspots in Sheffield and Newcastle. Cambridge and Oxford are somewhat add-ons of the London market that used to contribute considerably to its price growth, but these areas are now seeing bigger slumps than ever and are struggling to rank highly for price inflation. Across the two locations, growth only reached a high of 2.1 per cent over the past 12 months as a reflection of the dwindling property market towards the south shores of the country.
Rising house prices tend to have negative connotations, but for buy-to-let investors, price inflation equals property gold. The average Manchester house price is £153,600, which is still relatively low when compared to the average of £490,100 in London. Investors can acquire lower-cost properties and receive better prospects for capital growth in the future to allow buy-to-let players to cash in on their Manchester investments.
Manchester’s record levels of house price growth haven’t been witnessed in the market since 2005, awarding it with the UK’s strongest regional property rating. In fact, experienced companies like RWinvestare urging investors to get involved as soon as possible in order to reap the benefits of capital appreciation. The underlying market conditions indicate healthy market strength in Manchester which also assures investors with affordable properties and strong rental yields. Now establishing itself as a go-to location for investment in buy-to-let property, Manchester has become a lucrative alternative to London and it’s notoriously trying market.
Source: Shout Out UK