Manchester: property hotspot?

Year Published: 2015

A recent list compiled by HouseSimple, an online estate agent, has revealed that Manchester city centre is at number one in the top ten UK property hotspots for the next decade.

A Conveyancer at SAS Daniels LLP gives her thoughts on why Manchester has received hotspot status and why the city centre has remained relatively cheap in comparison to London.

Manchester city centre is constantly evolving and a lot of investment has been made in Spinningfields, Media City and the surrounding areas. New build apartments such as Axis Tower will provide further accommodation in the city centre, in an area which is very sought after.  This will be of particular interest to property investors as well as property purchasers, especially as many people who have invested in London properties will have lost money.  Beetham Tower still appears to be a popular choice for investors and would be classed as one of THE places to live in Manchester.

Manchester to London via train only takes two hours so it could make sense to buy property here and commute, particularly as property prices are cheaper in Manchester and you can get a lot more for your money. A two bed flat in central London can cost from £400,000 upwards, whereas in Manchester you can buy a modest three bedroom semi-detached property in a suburban location for a fraction of this price.

Furthermore, the proposed High Speed Two (HS2) which will link Manchester to London by high speed rail and reduce the journey time by around half will most certainly encourage people to commute from Manchester to London in the future.

For further information on residential property matters, please contact our residential property team on 0161 475 7676.

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