It’s grim up North. Cobbled streets give way to derelict industry buildings. Flat caps and whippets hang on every street corner. At least that’s what you’ve heard. Oh, how times have changed (Not that the North was ever like that). No longer is London taking centre stage. Manchester and the rest of the North West are eagerly pushing the south out of the limelight, and building a well-deserved reputation as the UK’s new hub for industry and commerce.
Not only this, but property investment across the North West is becoming far more common, and with good reason. A welcome breath of fresh air to the pricey properties of the south, the North West offers an alternative for young buyers looking to get on the housing market, or downsizers in search of more affordable housing.
Those who invest in the North West are much more likely to benefit from higher returns than most other areas of the country. The North West’s biggest city Manchester, for example, achieves an impressive average rental yield of 6.02%. This, when compared to outer London, which rakes in an average yield of 4.86%, indicates a huge contrast between the two regions.
Investing in properties to the North of the country is far likelier to deliver steadier and more predictable yields than those in the South. This can, in part, be linked to the fact that people are becoming more and more discouraged by the cost of properties in the south; not to mention the high cost of living. Properties in the North are ultimately more affordable for those looking to rent, and on the whole offer a better standard of living compared with the South.
With an ever-growing economy and a rush of young professionals looking to call the North West ‘home’, the region has been placed well and truly on the international radar. Home to two world-class football clubs, some of British music’s most famous exports and a host of cultural icons, the North West is an exciting and diverse region, ripe for investment.
The North West is an extremely diverse location and is split into various townships and boroughs. Each with their own distinct personality and unique character, the North West’s many towns add a splash of colour to an already vibrant palette. It’s not all Indie bands and pork pies!
Perhaps one of Greater Manchester’s most significant locations, Stockport is a bustling metropolitan area that has experienced tremendous growth in the last decade. An entrepreneurial hotspot, Stockport has beaten both regional and national business start-up rates per 10,000 residents. Thanks to the town’s obliging infrastructure, Stockport is more capable of sustaining and encouraging business than other similar sized towns across the country. Aiming to be a ‘thoroughly modern destination’ for businesses, Stockport is experiencing a flood of new and exciting ventures that are expected to inject even more money into the local economy.Bank Chambers
One our most recent developments in the area can be located right across from the local market place. Designed to complement the existing bank chambers building, these brand-new ultra-modern apartments are prime examples of Stockport’s melding of tradition and modern living. To find out more about this development, click here .
A borough divided by striking visual contrasts, Oldham sees its residents placed between the vibrant Manchester City Centre and tranquil outskirts of the Peak District. A region that prides itself on its innovators and entrepreneurs, Oldham’s reputation for big business far precedes it. With a business base that numbers upwards of 6,000, Oldham’s business sector is made up of a whole range of sectors including: advanced manufacturing, construction, digital/creative and financial services.
Oldham has several convenient transportation links on hand, including a motorway and metro link. These links connect Oldham to both Manchester and the rest of the country, giving its residents a healthy balance between rural life and city living. After all, variety is the spice of life.
Not only has Oldham’s transportation system received a much-needed facelift in recent years, but the town has benefited from investment in other areas too. With improvements made to its housing and educational facilities, Oldham continues to build upon its inclination for innovation by acting as a central hub for students and academics alike. Now completed by a cutting-edge University Campus and Life Long Learning Centre, Oldham is a positive hotbed for those looking to pursue higher education.
Home to national treasure Peter Kay and wielding an industrious history to rival any other town in the UK, Bolton is one of the North West’s dynamic towns. Throughout the duration of the industrial revolution, Bolton’s importance was underpinned by its contribution to the cotton industry. However, just like many towns in the UK, Bolton experienced the full brunt of the recession in 2008.
Shops closed, high streets became deserted and Bolton looked like it was on the fast track to economic ruin. Now, thanks to external investment, this once industrious town is part of a hugely ambitious plan to restore its former glory. Set to receive over £1 billion of investment from both public and private sectors, Bolton is set for massive development. With 1,800 new homes, 7,400 new jobs and an economic activity worth of £412 million, Bolton is about to experience unprecedented change.
When considering the regeneration of Greater Manchester as a whole, Bolton is often thought to be at the very forefront of the effort. With its town centre alone seeing £260m of investment, Bolton is bracing itself for substantial change. With its sights firmly on the horizon, Bolton plans to spend an additional £100m on projects in the near future, securing Bolton’s reputation as one of Greater Manchester’s most rapidly developing places.
A county that encountered great prosperity during the industrial revolution, Lancashire has a long history of producing skilled tradesmen and women. Spanning as far west as Blackpool, this industrious county spans 3,075 km and contains over 19 towns and 4 different cities.
A large town that sits north of the west Pennine Moors, Blackburn has been famed for its championing of the textile industry. For those of you who haven’t already ‘cottoned on’, the North West’s involvement with the textile industry played a large part in boosting the region’s national significance throughout the 19th century.
Also part of the North West’s green belt, Blackburn maintains its agricultural and traditional heritage, resisting the widespread development common across the rest of the country.
Named by Lendinvest as one of the top areas for high rental yield, Blackburn experienced an average yield of 5.69% throughout 2016. With typical house prices being around £95,000, Blackburn can be is extremely affordable. This, when combined with the fact that Blackburn is only an hour away from both Liverpool and Manchester, makes the town ideal for young families and young professionals looking to work in a city. With the local M65 linking directly to the M6, M61 and M66, the region’s airports, towns and other tourist hotspots are but a stone’s throw away.
Preston is the celebrated home to the world’s first ever motorway, the M6. Bear with us, it’s more exciting than it sounds. Whilst this may sound trivial, this revolutionary introduction was a ‘driving’ factor to the North West’s integration with the rest of the country.
Not the only string to its bow, Preston has many accolades which have contributed to its reputation of being a prime property hotspot. For starters, Preston is the proud mainstay of the UCLAN University, an academic institution home to over 30,000 students. Being well connected across the North West and only a 40-minute ride away from the UK’s second biggest city, Preston is an exceptionally attractive setting for commuters from around the country.
The third largest city in the North West, Preston has secured £435m worth of investment to expand its transport infrastructure and facilitate the introduction of 17,420 new homes. An additional £50m has been promised to the Market Quarter area to make room for a new cinema, retail unit and restaurant/car park. An affordable area that is on the cusp of a remarkable regeneration, Preston is an area on the up, and is showing no signs of stopping.
According to the Office for National Statistics Burnley offers the lowest average house prices at £78,000 on average. Not only this, but according to estate agents Countrywide, Burnley is currently the “flipping capital” of Britain.
With 1 in 10 houses bought being ‘flipped’, the Lancashire township is experiencing a deluge of interest from investors from the south, looking to make improvements to properties before selling them on and or rent out. Now, thanks to the reopening a train link, Burnley is even more of a commodity to the working professional.
Able to connect the town directly to Manchester’s Victoria station, business will be more prevalent. This, when considered alongside the area’s relatively low housing prices, Burnley is an extremely attractive commodity to young first-time buyers.
Gracing the silver screen on more than one occasion, Cheshire has been featured on the immensely popular tv shows The Real Housewives of Cheshire and Made in Chelsea. Thankfully, Cheshire’s residents (for the most part) don’t possess the same flair for dramatics as the housewives and co. may suggest.
South to Greater Manchester and home of the Cheshire Peak District, Cheshire is a mostly rural county that features a high concentration of villages centred around agriculture. Stretching to over 2,300 km in its entirety, Cheshire sits comfortably between two of the UK’s biggest cities. Home to the fabled ‘golden triangle’, Cheshire is populated by a collection of luxury eateries, mansions and multi-millionaires. They have to live somewhere after all.
Home to a plethora of sports stars, celebrities, entrepreneurs and captains of industry, it may come as no surprise that Cheshire is one of the most desirable locations to invest in property. With areas like Alderley Edge’s average house price tipping in at an average of £1.9m, this area of the North West lays claim to some of the region’s hottest properties. At The House Crowd we have several developments within the golden triangle and our offices are in fact based at its epicentre - in Altrincham – recently named the best place to live in the North West.No 10. Alderley Edge
One of House Crowds most prestigious developments situated in one of Cheshire’s most coveted locations, No. 10 Alderley Edge offers incredible views across the Cheshire Plain and rolling Welsh hills. The epitome of 5-star luxury-living, our No 10 Alderley Edge is situated in the heart of the local conversation area, and a two-minute walk to the centre of the village.Bollin Heights
A secured, gated development located in Wilmslow, Bollin Heights is placed conveniently between the local train station and the town’s local amenities. A 15-minute train journey from Manchester, and less than 2 hours door to door to Euston station, Bollin Heights is the ideal location for professionals who need to commute.
Located by the side of the river Mersey, Warrington was initially a community made up of travellers and tradesmen. Becoming home to a variety different crafts during the industrial revolution, Warrington continued grow in popularity. In the 1960s/70s the town of Warrington was redefined as a ‘new town’ (despite it being around since Roman times!) and has since come to embrace development and growth. With a population of around 200,000 Warrington is an economic powerhouse and has been named as having one of the strongest performing economies in the region. It also has the highest GVA in the North of England with an average of £49,400.
One of Warrington’s many claims to fame is that it saw the introduction of the UK’s first ever IKEA. Chosen by the flat-packing, meatball toting furniture venders for its potential for regeneration and growth, Warrington has seen considerable expansion and growth ever since.
A town that’s revelling in its own potential for capital growth, Warrington’s positioning and affordability pay a huge part in its recent popularity with investors. Right in the heart of the North West, Warrington’s transport links put it in exceptionally good stead for those looking for access in and around the country. Nuzzled in between both Manchester and Liverpool, the town offers serious scope for working professionals looking to commute in a more metropolitan environment.
Close to junction 16 of the M6, the North West town of Crewe is home to some of the country’s largest employers, including Bentley, Bombardier Transportation and Bargain Booze. Not content with limiting itself to a selection of internationally renowned enterprises, Crewe has now set its sights set on the new HS2 high-speed railway.
With the HS2 ‘on track’ to be introduced in the next few decades, Crewe is currently preparing itself for its inclusion along the railway’s route. According to the Crewe Chronicle (2016) most current investors see the HS2 as a hugely positive addition to the town and expect to see housing prices steadily increase on the run up to the HS2’s launch. This £5 billion railway station is set to provide greater transportation links to the rest of country, all the while acting as an attractive incentive to the rest of the nation’s professional work force.With such great access to the North and South of the country, fantastic employment potential and heaps of redevelopment currently underway, Crewe is setting itself apart as one of the North West’s shining stars.
Additional investment to the area will see Crewe’s Royal Arcade bulldozed and, in its place, a new cutting-edge leisure and retail centre, scheduled to be completed by Christmas 2020. Featured inside of this new multiplex will be an eight-screen cinema, gym, restaurants and 450-space multi-storey car park.
You might think we’re biased, (maybe we are) but we can vouch for the fact that the North West is outperforming the South in a number of different ways.
Specialising in property primarily located in the North West, The House Crowd strongly believes that the region has more to offer the investor than any other area of the country. With The House Crowd being based in the South of Manchester many of our team are homegrown. Because of this we are able to offer in-depth, concise insights to our investors. We stick to what we know.
Voted the UK’s best city to live in 2015, Manchester is generally regarded as one if not the best investment hotspot in the country; a natural alternative for investors who are growing increasingly frustrated by the rising costs and dwindling returns currently on offer in London.
In the North West the first-time buyer pays an average deposit of £19,000, equivalent to around 54% of their annual income. This statistic in London however, translates to around £99,573; 149% of their average income. Not only this but stamp duty in the North-West comes to around £3,000. In London this is once again escalated to around £25,700. In short, it’s far easier for young people, graduates and first-time buyers to get on the housing ladder. It is this moderate sensible growth that underpins the demand for housing in the North West and cements its position as the country’s brightest flame.
To give but a summary of why we operate in the North West, we can conclude that the region has: