North West Property Market: A Hub of Stability and Growth

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North West Property Market: A Hub of Stability and Growth

Manchester’s property market continues to stand out as one of the UK’s most resilient regions, attracting buyers and investors with its promising prospects. Despite nationwide stagnation last year, the city consistently demonstrated resilience in house prices, driven by robust tenant demand (the largest student population outside of London) and a thriving job market, making it an appealing destination for property investment.

A boat moves up the river Irwell towards the city of Manchester

Zoopla’s January index, recently released, highlights the North West’s resurgence in buyer demand, alongside London and the North East, with a significant 11% increase year-on-year. This uptick in buyer appetite reflects a broader positive trend across the UK, fuelled by a healthier housing market characterized by lower interest rates.

However, when choosing a market for investment, it’s crucial not to solely rely on positive market trends at a macro-economic level. It’s essential to assess how the market performs during times of uncertainty. For instance, Zoopla’s analysis of the UK market in 2023 revealed that the North West had an average time to get a sale agreed of 31 days, making it the third quickest region in the UK. This highlights the enduring appeal of cities like Manchester, even amidst increasing mortgage rates. Despite subdued national growth, Manchester experienced positive price trends in 2023, unlike many other UK markets, owing to a combination of limited supply and consistent housing demand.

Modern apartments on both side of river Irwell passing through Manchester city center, UK.

Manchester continues to be a hotspot for property investors, offering strong performance and appealing rental yields. Renowned for its prestigious universities and robust economy, it presents lucrative opportunities for buy-to-let investors seeking stability and long-term growth. To find out about our opportunities in Manchester, take a look here.

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