Landlords are fleeing to major cities across the UK, like Manchester, to source lucrative buy to let investment opportunities. Undoubtedly, the hubbub of most urban districts is saturated in the centre. Due to the rising concentration in population, eclectic cultures and history, infamous landmarks with surrounding regeneration initiatives, world class educational facilities and significant job opportunities, the growth across Manchester city centre is astounding – with no signs of slowing down. Tenant and investor hunger for property remains so prevalent across the city, however there is a new kid on the block when it comes to choosing where to invest, staying well clear of city centre locations – the suburbs.
Imagining the suburbs, you may envisage a rural area off the beaten tracks of the main hive of the city, in theory you are not wrong, but when you start to unpick the advantages of investing in suburban areas you will understand how prosperous it can be.
Getting more for your money
One of the major pulling factors for investing in the suburbs is the staggering difference in prices compared to the city centre. Affordability, for most, is the driving force behind purchasing a new property or relocating to a new area, therefore when avoiding excessive city prices, a suburban development may be more suited. Investing in the centre introduces a new factor – price per square foot, which far exceeds those sitting on the outskirts. You can secure a larger property for less money than what you can expect to pay throughout Manchester’s core, although it is important to focus not only on your desired property but also the surrounding location, as trends outline that major cities are always going to produce higher prices due to experiencing heavy surges in population.
Diverse selection of tenants
Targeting tenants with buy to let investments in Manchester suburbs usually attract a wider combination of potential residents. As quieter plots of land tend to provide perfect spaces for schools, houses just outside of the city are an ideal investment for families and young couples escaping the hectic urban buzz of a major city centre. In contrast, experiencing high-rise living in the beating heart of Manchester remains an attractive quality to the growing number of graduates and young professionals that choose to reside in the city, but increasing prices of the centre leave stepping on the property ladder a daunting prospect for many.
Located on the outskirts of the city, tenants experience the tranquillity of living a convenient distance from the centre with natural landscapes and coastlines seeming less cosmopolitan than the modern metropolis evident across the city centre. More often than not these rural locations are accessible through short commutes, by bus, train or car, towards the bustling city centre locations. RW Invest, offer a multitude of investment opportunities keen to reap the benefits of suburban living through seeking charming hotspots outside of the city providing unbeatable rental returns up to 8% and assuring fruitful properties with exceptional potential for capital growth.