UK Property Investment - Manchester Hype

[Fatpigkenny]

That’s how an agent try to sell Derby to me. When I see growth rates in the brochure, get me out of there

[walkup]

The best thing one can say about Manchester is that it isn't Liverpool.

[ArrynField]

For early investors at Imperial Point, one of the first developments in Salford Quays (bought off plan in 2000 and completed in 2002,), the lucky few sold around 2017/2018 and some did make a profit...

https://nethouseprices.com/house-prices/m503rb

This investor made a gross gain of £108,500 over 16 years (Approx 3% growth p.a.....which is quite poor)...but at least they got out....
https://nethouseprices.com/house-pri...m50%203rb/2018

The unlucky one's still holding the properties are living in a nightmare and unable to sell because of the cladding issue

https://www.bbc.com/news/uk-england-manchester-51628403

[Timaw]

I have vacant 2 bed apartment in Manchester, been vacant for six months. The markets a bit saturated with so meany new developments completing recently.

[ArrynField]

I have vacant 2 bed apartment in Manchester, been vacant for six months. The markets a bit saturated with so meany new developments completing recently.

Reduce your rent....

[Timaw]

Reduce your rent....

Rent reduced to 2010 levels. Agents excuse for not finding tenants is due to the new block of apartments just across the road, most sold to foreign investors and now all available to rent and the rent subsided by the developers.

[ArrynField]

Reduce further. If that doesn't work replace agent.....

[ArrynField]

This. A lot of people got sucked into the student property investment boom around big university towns. Were promised guaranteed yields, good interest only mortgages etc.

Problem was no decent capital gains and also no market to sell the properties at a profit.

For those that have cash and think it's a good idea to invest in "Student Accommodation".....Think again...

https://moneyweek.com/503652/investi...oesnt-stack-up

[SV32]

I'm from Manchester, still go back to visit parents every few years, but I'm staying well away from any of these apartments.

They have become just landbanking and easy capital flight for rich Chinese, and then they can try to get a bit of rental yield in future, IF overseas students ever come back, but those rentals will all be done within China on their own platforms, and you trying to rent it through a UK agent will be last in the line

[Timaw]

Reduce further. If that doesn't work replace agent.....

just looked at the agents website, they have 163 apartments available to let. This time last year only have a few. Going to try and let it myself.
anyone know any good websites to advertise properties to let.