Is Manchester is good place to live?
Take at a look at our buy-to-let property guide to the areas and tenant profiles in Manchester. Learn about forecasted rents, void periods and what factors matter to tenants in 2025.
Operating as one of the largest UK regional economies, second only to London, it’s no surprise that Manchester is a highly sought-after buy-to-let property market.
The city became the world’s first industrialised metropolis during the 19th century and today has established a diverse and state-of-the-art economic base, attractive enough to draw in the likes of Google, HSBC and the BBC.
Having cemented its reputation as the economic epicentre of the Northern Powerhouse, both global and regional talent has moved to Manchester in droves. Manchester City is now home to 558,840 residents (2021), and together with Trafford and Salford, the total population is projected to reach 1,154,970 by 2035 — a 36% increase since 2000.
All of whom need somewhere to live.
With exceptional population growth, housing supply has struggled to keep pace — only 37,460 new units were delivered between 2011 and 2020, meeting just 34% of housing needs during that period. Looking ahead, Manchester faces a projected undersupply of at least 82,505 homes by 2031. These factors, combined with strong economic growth, form a robust foundation for investment in Manchester’s residential real estate.
But not all opportunities are created equal. And there are factors which make certain properties more successful investments than others. So, what exactly are tenants looking for and how can you improve your yield?
Read on to learn about the most popular buy-to-let investment locations in Manchester and what tenants and features you need to consider for each.
Manchester Rental Market Overview
As one of the most diverse cities in the UK, it’s no surprise that Manchester’s buy-to-let opportunities reflect that. Greater Manchester operates as a metropolitan county of 10 boroughs: Bolton, Bury, Oldham, Rochdale, Tameside, the City of Manchester, the City of Salford, Trafford, and Wigan. There are options to suit all budgets spread over several locations linked to the various employment hubs. You can find the home of creatives in MediaCityUK to the west, whilst slightly to the north is NOMA – housing Amazon, Deloitte and other large-scale corporations. Students congregate further south next to the award-winning universities, and anything further out is exceptionally well connected via the largest tram network in the UK.
Buy-to-Let landlords continue to capitalise on the strength of the rental market in Manchester, as yields far outstrip London and South England. In city centre locations, the yields are typically lower while more affordable apartments are located in areas experiencing regeneration, where you’ll find stronger yields. Manchester is the third most-visited city in the UK so short-term lets are an option in developments where freeholders provide approval and can significantly increase the yield, however they are more volatile so be cautious of your risk profile before opting for that avenue.
Below are some of the most popular areas for investment in Manchester:
Salford Quays
Salford Quays boomed as a manufacturing hub during the industrial revolution. Today, having experienced significant regeneration, its better known as the home of MediaCityUK and offers a skyline of high-rise apartment blocks housing innovators and creative minds.
Centred around a waterfront public realm area twice the size of London’s Trafalgar Square, MediaCityUK has become a destination in its own right, attracting many London-based businesses such as BBC, ITV Studios, and SIS LIVE. The area of Salford Quays now has the UK’s fastest-growing cyber ecosystem and attracts highly skilled talent from across the globe.
Salford’s significant investment in development focuses on its Salford Quays and MediaCity area, with a £1bn redevelopment plan. The masterplan is also to include the UK’s largest private-rented sector to meet the area’s enormous rental demand. The region is currently experiencing a boom and holds significant economic potential. In 2025, over 300 new jobs have been created, driven by a combination of business relocations, company expansions, and the arrival of new food venues.
Tenant Profile
It is no surprise to buy-to-let investors that the most common tenant in this region would be a 30+ professional working in the Creative, Digital and Technology sectors. The average salary would typically be over £40,000 and you’d find strongest rental demand for one-bedroom / two-bedroom units. Sometimes the tenants would be couples but frequently they live alone.
Housing Market
According to Zoopla, the average sold price for a property in M50 in the last 12 months is £208,279.
| Avg asking price | Avg rental yield | Sales per month | Avg sold £/sqft |
| £234,390 | 6.1% | 14 | £347 |
Source: https://propertydata.co.uk/cities/manchester
Development Case Study: Rivergate in Salford Quays, M50
- Project Launch Date: 2016
- Project Completion Date: 2016
- Number of Units: 164 (one- and two-bedroom apartments)
- Size Range: 488 to 1,034 sqft
- Average Price at Sale: GBP158,000 – GBP365,000
Averages across 101 Rivergate units managed by Complete Prime Residential:
- Current Average Rent: GBP1,304
- Achieved Rental v. Projected Rental: 131.34%
- Current Average Rental Yield: 6.69%
- Average Rent Growth Since Launch: 22.58%
Old Trafford
Trafford sits west of Manchester and covers the areas of Altrincham, Sale and Stretford.
It is considered Manchester City Region’s largest hub of business and enterprise with the highest number of companies per capita. The area is also renowned for its leisure activities with sporting at the forefront.
Home to Manchester United’s Football Stadium and Lancashire County Cricket Club, Trafford sees plenty of foot traffic from around the country for major national events. A burgeoning bar and food scene is also prominent in the area, where young professionals congregate after a day’s work.
Trafford also offers excellent inter-connectivity. Manchester airport, the UK’s second-largest, is just a 10-minute drive away with direct flights to commercial centres both in the UK and across the globe. Locally, it is also well connected through an extensive rail network and light rail tram which will soon connect to the High Speed 2 (HS2) rail network.
Tenant Profile
As the area is considered up-and-coming, tenants in Trafford are often early-career professionals in their twenties, typically earning around £26,000–£30,000 per year. Generally, the most popular units are one-bed and two-bed apartments.
Housing Market
According to the Zoopla, the average flat sold in Trafford (M16) in the last 12 months sold for around £175,400.
| Avg asking price | Avg rental yield | Sales per month | Avg sold £/sqft |
| £274,059 | 4.8% | 24 | £333 |
Stats: https://propertydata.co.uk/cities/manchester
Development Case Study: No1 Trafford Wharf in Old Trafford, M17
- Project Launch Date: 2018
- Project Completion Date: 2021
- Number of Units: 173 (one- and two-bedroom apartments)
- Size Range: 437 to 761 sqft
- Average Price at Sale: GBP149,000 – GBP275,000
Averages across 72 No. 1 Old Trafford units managed by Complete Prime Residential
- Current Average Rent: GBP1,145
- Achieved Rental v. Projected Rental: 124%
- Current Average Rental Yield: 6.37%
- Average Rent Growth Since Launch: 18.90%
Manchester City Centre and Chorlton-on-Medlock
Naturally, demand for rental property around Manchester city centre is high making it a popular option for buy-to-let investors, but yields are lower than in the regions of Trafford and Salford Quays. However, when you venture slightly south to the area along Oxford Road in Chorlton-on-Medlock, you’ll find strong-yielding purpose-built student accommodation (PBSA) and student flats (HMOs) feeding into the two prestigious universities and several colleges located in the area.
A House in Multiple Occupation (HMO) is when an apartment is inhabited by several tenants who each have their own tenancy agreements with the landlord. Turnover is typically quite high resulting in a lot more administration for the landlord, but it also comes with a much stronger yield and softer void periods as the whole apartment is not dependant on a single tenant.
Manchester has a student population of over 100,000, with 21,000+ international students in Greater Manchester.
The area is undergoing significant regeneration around the universities, including the £750 million Circle Square development. The masterplan includes 1,700 new homes, 1.2 million sq ft of commercial office space, and 100,000 sq ft of retail and leisure space, centred around Symphony Park. In 2025, No. 3 Circle Square, offering 267,000 sq ft of state-of-the-art workspace, has been completed as part of this growing innovation neighbourhood.
Tenant Profile
Investors in Chorlton-on-Medlock are highly likely looking at students living in their buy-to-let apartments. PBSA has become particularly popular as students place more value on the social element of attached leisure facilities such as study areas, gyms and games rooms. The Circle Square development’s PBSA section, for example, offers weekly events (such as career workshops and sporting activities), movie rooms, creative spaces and private dining rooms for their student tenants.
Your standard tenant in this area would be aged 18 to 25 with high-net-worth parents who act as guarantors and cover the living costs during the course of study. Safety is an important consideration in selecting accommodation for students too, particularly if they’re international. The strongest demand is for one-, two- and three-bedroom units and the tenancy agreement is almost always one tenant pays per room.
Housing Market
According to Zoopla, the average apartment in M13 now sells for about £200,000, while in M1 the average sold property price is around £242,500.
M1
| Avg asking price | Avg rental yield | Sales per month | Avg sold £/sqft |
| £267,395 | 6.3% | 15 | £393 |
M13
| Avg asking price | Avg rental yield | Sales per month | Avg sold £/sqft |
| £285,541 | 6.1% | 5 | £283 |
Stats: https://propertydata.co.uk/cities/manchester
Development Case Study: 2 Harter Street, Manchester, M1
- Project Launch Date: 2015
- Project Completion Date: 2017
- Number of Units: 22 (one-, and two-bedroom apartments)
- Size Range: 452 – 1,195 sq ft
- Average Price at Sale: GBP166,000 – GBP332,000
Averages across 11 units at 2 Harter Street, managed by Complete Prime Residential
- Current Average Rent: GBP1,132
- Achieved Rental v. Projected Rental: 111.20%
- Current Average Rental Yield: 6.39%
- Average Rent Growth Since 2022: 18.93%
Want to find out a bit more about opportunities in Manchester? Chat to a property management and lettings specialist today.
