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Manchester: A property hotspot01/21/2008
Manchester is fast becoming a property hotspot with particular potential for first-time buyers to get onto the housing ladder, according to various estate agents.
A mortgage for a one-bedroom apartment in the city centre can be obtained for approximately £100,000 according to Savills. This amount is achievable for first time buyers looking to make their first venture onto the property ladder. As with any property investment, location is key and certain areas will have more growth than others. Because Manchester is quite a condensed city centre, it allows accessibility to most parts of the city from where you live.
The city is also appealing for Buy-to-let investors, with the city being the second most visited in the UK. The city is also a major student location, with over 100 000 students there is a huge level of demand for Buy-to-let. The rentals are always considered very good in Manchester city centre and people are achieving rents that are paying the mortgage. The market is having a slow down as everyone is aware, but as far as property prices go, Manchester is still considered very reasonable and a good investment for the future.
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