- Manchester has been ranked as the UK’s number one city to be a property investor by a new survey
- Price comparison website Gocompare compiled the list based on average yields, property prices, growth and housing supply
- It comes at a time when the north-west city continues to attract huge levels of international investment
It’s official – Manchester is the best city in the UK to be a property investor.
That’s according to Gocompare, one of the country’s leading price comparison sites, who has just ranked the north-west city as the number one city in Britain for real estate investment.
To compile its ratings, Gocompare analysed and ranked cities based on their average property prices and rental yields, in addition to levels of housing supply and rental price growth to determine future investment performance.
Manchester’s greatest strength was found to be it average rental yields; at 5.5%, they are currently highest in the UK.
London was second in the list but, despite rent prices being higher than Manchester, significantly higher property prices mean that investors in the capital achieve among the lowest yields in the country.
Belfast, while having one of the UK’s lowest average property prices at £122,434, was ranked last, with average yields standing at just 3.77%.
The findings come at a time when Manchester is increasingly becoming a hotspot for international property investment. Recently published research from Juwai.com, China’s largest overseas property portal, outlined that there was a 255.6% increase in enquiries for real estate in Manchester in January 2018 over the same period in 2017.
Based on current LendInvest data, property investors in Manchester could achieve 67% higher returns than in London and, with one of the UK’s fastest growing populations and a property market struggling to keep pace with demand, more investors are starting to switch their long-term focus on the city.
Source: Select Property