Property Investment across Manchester has seen the industrious city succeed many of its international contemporaries, elevating it to the same illustrious repute as the country’s own capital. Comfortably adopting the moniker as the cultural capital of the North, Manchester sits triumphantly amongst the UK’s best and brightest cities. According to a recent study from Investment Property, Manchester is the third most visited city in the UK, attracting over 100,000 domestic and international students each year.
Measured as the UK’s second largest urban area, Manchester city is called home by more than 2.5 million people. A truly modern city, Manchester is a melting pot of diversity that prides itself on the complete unification of different cultures. With a city centre divided into several districts, Manchester isn’t short of vibrant character and remarkable architecture. From Canal Street to The Northern Quarter, the city commands a personality like no other. Underpinned by its vivid and animated history, Manchester has played host to some of the country’s most significant events, cultural movements and people. Further substantiating its strategic locational advantage, Manchester’s excellent transportation puts it in extremely good stead for those looking to commute either internally or from abroad. Being only an hour flight away from London and two hours away from some of Europe’s other main hubs, Manchester is extremely accessible to people from around the world.
Whilst all of this sounds very impressive, what does it mean for property investment In the North West?
As a result of the city’s perpetual state of evolution, Manchester has been able to develop into the thriving metropolitan melting pot that it is today. Whilst many investors (including those overseas) are still fixated on the ever-fluctuating property market of the capital, many are now setting their gaze to the North-with good reason. Manchester’s growing influence was evidenced in the recent Mayoral election. A politician as powerful as Andy Burnham choosing to successfully run for mayor rather than further his career in Westminster pays testament to the city’s reputation as a truly international centre. There has been continued regeneration and investment ever since the Commonwealth Games back in 2002 and even areas that were once largely forgotten are now leading hubs. A shining example of this would be the area of Salford, which is now home to Media City- the home of the BBC, ITV and many more.
Thanks to a flourishing economy, Manchester has helped the country diversify its industry. The city’s previous regeneration efforts have helped the city to evolve into the vivacious space that it is today. Already touted as the largest UK economy outside of London, Manchester continues to draw in foreign business with over 2,0000 foreign trades already take up residency within the city. (Investment Property UK)
A lot of what makes Manchester the place to invest in property seems to similarly apply to London. However, there is one key difference. Complete affordability. Around Manchester, investment properties are still available for £200,000 and under – a long way under in some areas. Good luck finding anything for that sort of price anyway near London. Even this is changing though. Many Manchester postcodes have seen properties more than double in value in the past few years. If you are thinking of investing in property, now is the time.
The would-be investor can of course look to buy purchase a property and rent it out, though the traditional buy-to-let model is set to increasingly become a thing of the past for all bar the most serious, professional developer (more on that in another blog). Here at The House Crowd we offer a range of different products to our investors including: Peer to peer lending, Development loans, Auto Invest and our brand new IF ISA. These models turn your investment into a passive practice ensuring that there are none of the ongoing concerns around finding tenants or red tape. Each investor has a stake in the property, potentially as little as £1,000, and they receive their share of the yields accordingly. An investor with £20,000 could, for example, spread this as five £4,000 investments on a range of properties across the city (If they wanted to choose their own investments). The risk is spread across multiple properties; the investors benefit from having access to profit from properties chosen by experts who know exactly what to look for in the housing market. Please note that your investments can go down as well as up and to associate yourself fully with risk warnings on any property investment sites.
When we launched The House Crowd in 2011, it was the first property crowdfunding platform in the world. We have offered peer to peer secured lending since 2015. We are FCA accredited to provide P2P secured lending. This ensures a high level of transparency and a legal obligation to be upfront about all risks involved in P2P investing. To date, we have raised £70m for developers and businesses, and have never lost a penny. Our bridging finance team have experienced ‘bad debt’ on a few occasions, but no capital has ever been lost. Any ‘late’ redemption of loans is only late with our consent. If you’re interested in making property investments that deliver real returns, sign up to The House Crowd today!