UK’s Second Largest Economy
With a population of 2.5 million and a workforce of 1.2 million Manchester is on top of its game when it comes to business development and, outside of London, it now has the UK’s largest economy. Attracting thousands of buy-to-let investors from both home and overseas, Manchester has always been a magnet for drawing in serious amounts of investment and is now considered one of the most mature property investment markets in the world.
Making a mark on the world’s stage
Manchester is renowned throughout the world for its industrial heritage, sporting prowess and the impact it has made on the music and arts scene.
A well-connected city
Manchester came into prominence during the 19th century thanks to the cotton industry and the emergence of the industrial revolution. On the back of this, Manchester developed a great transport infrastructure connecting it quickly and easily to other key UK cities.
Largest regional airport in the UK
With extensive road, rail, tram, public transport and airport links, Manchester is now one of the most accessible cities in Europe.
In addition, Manchester Airport is the UK’s largest regional airport with a reach that extends to 225 worldwide destinations and puts the city firmly on the international stage.
Sporting and musical prowess
On the sporting front, Manchester is famous for producing two high profile football teams – Manchester United and Manchester City, both of which command a massive worldwide fan base.
The music landscape in Manchester is also a huge feature of the city with world famous bands such as Oasis, The Smiths, Joy Division and The Stone Roses at the forefront of the thriving cultural scene.
Talent, creativity and innovation
Manchester is also renowned for its excellent restaurants, bars and nightclubs and top attractions such as the Arndale Centre, MEN Arena, the Palace Theatre, Whitworth Gallery and the Imperial War Museum North.
When the BBC moved a large part of its operation to MediaCityUK in Salford Quays from West London it sent a clear message that Manchester is the place to be for talent, creativity and innovation.
Cultural heavyweight
This is further illustrated by the annual Manchester International Festival which has cemented the city’s place as a cultural heavyweight, attracting wide spread praise and visitors from all over the world.
The Drivers of Investment
The extensive regeneration programme that has taken place in Manchester has transformed the city and made it the vibrant metropolis it is today. With a superb reputation for financial services, computing, engineering, research, broadcasting and communications, many young people move to Manchester to seek employment and improve their standard of living.
Growing population
The last 10 years, the number of 20 to 30 year olds living in Manchester has almost doubled and the population growth that the city has experienced is now 3 times the national average.
Manchester has the UK and Europe’s largest university campus with over 85,000 domestic and international students, many of which stay in the city after graduation to find employment and enjoy all that Manchester has to offer.
One of the best cities in the world to live
In the Global Liveability Survey carried out earlier this year ranked Manchester as the UK’s most liveable city. The survey rates world cities out of 100 in the areas of health care, education, stability, culture,environment and infrastructure. Beating all other UK cities, and also beat places such as London, Rome and New York!
Manchester – The Number One Buy-To-Let Location
Manchester has been earmarked as the primary city in the UK’s Northern Powerhouse plans. With its ability to attract people from far and wide to live and work in the city, the city centre itself is now populated with high numbers of young professionals and students. This is why Manchester is regarded as the number one buy-to-let location.
In Manchester we are seeing a perfect storm of high student numbers, the highest percentage of 20 to 34 year olds in the UK and an undersupply of housing which is causing the rental market to boom. So, if you’re a buy-to-let property investor, Manchester is the place to be.
Good News For Buy-To-Let Investors
As part of the Northern Powerhouse plans, Manchester is set to be the first UK city outside of the capital to have an elected mayor. This should facilitate more freedoms regarding the property infrastructure of the city, spelling good news for buy-to-let investors.
Manchester is already regarded as one of the top property investment markets in Europe and by giving the city more choice in the decisions that affect the city, Manchester should continue to attract significant investment from both home and overseas investors.