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UK Property Investment - Manchester Hype

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  1. #1

    UK Property Investment - Manchester Hype

    Thoughts/concerns/issues with buying one of the many new apartment units in Manchester, UK? Anyone bought there within the past 3 years? Rented?

    The APAC agents market them with very high rental yields (7-9%), and of course the purchase price for a high-end 1-2 bed apartment is a fraction of the same in the London and the South...

    Close to jumping on the bandwagon, but it might be a case of oversupply given the amount of apartments I see available on the likes of Zoopla and RightMove, etc.

    Thanks,
    D

    ArrynField likes this.

  2. #2

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    Renting out a 2 bed in local Blackfriars, went very smoothly considering covid. Ping me if you need an agent recommendation (I don't use Urban Bubble)


  3. #3

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    Been seeing this hype on Manchester flats for years. What supposedly makes Manchester different to other cities in the UK in terms of property investment?


  4. #4

    Thanks George, will send you a DM...

    Hullexile - exactly what I’d like to know a bit more on too from “actual” investors and not agents/UK property marketers only...

    Regardless, from what I’ve seen/read, Manchester is going through a huge boom and will continue to do so over next 5 years with strong capital appreciation of up to 21%. Big media company presence there including BBC, supposedly many companies have relocated there... Sources on KnightFrank, Savills etc...

    Needless to say, with covid and office jobs who knows what the future will bring with UK “cities” since you can arguably be based and work from anywhere today....


  5. #5

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    The only good time would have been if you bought early within Media City a few years back.

    Everything is pretty much over price.

    No 1 Deansgate was one of the best buildings in Manchester and many footballers and high rollers live there. Harvey Nic’s is also there.

    It completed in 2002. If you look at the resale prices, you can see how much people have made since 2003....

    https://nethouseprices.com/house-pri...0m3%201az/2019

    Bought in 2002 at GBP310,000
    Sold in 2019 at GBP390,000

    https://nethouseprices.com/house-pri...0m3%201az/2018

    Bought in 2002 at GBP270,000
    Sold in 2018 at GBP330,000

    Anyone notice a pattern in the growth....It’s not great...and that’s within one of the prime residential buildings in Manchester

    Last edited by ArrynField; 22-09-2020 at 12:27 PM.

  6. #6

  7. #7

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    Quote Originally Posted by ArrynField:
    Bought in 2002 at GBP310,000
    Sold in 2019 at GBP390,000

    Bought in 2002 at GBP270,000
    Sold in 2018 at GBP330,000
    Curious.. what would the rental returns have been during that period?

  8. #8

    Yields are decent in Manchester, however capital gains won't be that great.


  9. #9

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    Quote Originally Posted by shri:
    Curious.. what would the rental returns have been during that period?
    During that period, probably in the region of GBP1,000 to GBP1,200 pcm

    Current rental asking prices for properties at No 1 Deansgate (asking from GBP1,300 pcm) and other properties in the M3 postcode:-

    https://www.zoopla.co.uk/to-rent/fla...ewest_listings
    shri likes this.

  10. #10

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    It was a very high profile building, with a Harvey Nichols downstairs...

    https://www.manchestereveningnews.co...crosby-1144540


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