What makes Manchester investment so appealing? It’s not just the city’s strong economy, but also its property market, with some of the UK’s highest yield rates and growth with JLL predicting an increase of 18.8% by 2028. This guide dives into Manchester’s rising economy, thriving property market, and the lifestyle that complements investment choices – learn how these elements combine to establish Manchester as a prudent investment destination.

Manchester is pulsating with a dynamic economic energy, boasting the status of having the second largest city region economy in the UK after London, reflected by an impressive £78.7 billion Gross Value Added (GVA). Looking forward to enhancing its local economy projections indicate a GVA increase for Manchester amounting to approximately £2 billion by 2026 – a rise powered largely by industries such as information and communication along with the finance and insurance sectors.

Manchester stands as a pivotal contributor to the UK’s Northern Powerhouse initiative, which is designed to enhance economic expansion across England’s northern regions and mitigate London’s predominant economic influence. Boasting more than 2.8 million residents, Greater Manchester plays an instrumental role in bolstering the Northern Powerhouse by presenting vast opportunities for investment due to its sizeable population.

Investing in property within Manchester reveals a vibrant market filled with potential. The city boasts attractive rental yields, typically between 5% and 7%, and even higher in some districts, reflected by an average rent of £1,267 across the city. Compared to London’s steep average of £723,000 for properties, Manchester’s more modest average price tag of £231,110 as of 2023 makes it a much more accessible point for investment while still offering considerable rental returns.

Quality of Life

Manchester stands out as a city offering an exceptional balance between work and personal life, ensuring a high standard of living. Among its benefits are:

• The average cost for renting a two-bedroom apartment constitutes merely 24% of the typical monthly income, which is considerably lower than in London.
• Over half the graduates opt to remain in Manchester after completing their studies, demonstrating its allure among young professionals.
• It maintains itself as a continuous center for prospective long-term rental opportunities.

Indeed, affirming its reputation for excellent quality of life, Manchester was acclaimed by the Economist as the UK’s Most Liveable City in 2022 .