Buy to Let in Manchester – Abode’s Ten Reasons to Buy or Rent in Tameside
Buy to Let in Manchester attracts investment from all over the UK and overseas. As an investor across Greater Manchester, Charlotte Puddy explains Tameside in more detail here.
1. PROPERTY TYPES
As with many areas within the North West, Tameside has a good supply of all types of properties. For example, Ashton under Lyne has many traditional style two bedroom terraced properties that are of good sizes for the young family, young couple or older couple whose children have flown the nest. Audenshaw has larger properties, often three bed semis that are suited to larger families.
Denton has an excellent supply of two and three bed terraces, often garden fronted. There are pockets of new build properties across Tameside and we expect this to increase as house building continues to rise, however the traditional style terraces form the bulk of the property stock in the area. There is something for everyone in Tameside: you can see what we have available right now on our Rightmove page featuring buy to let in Manchester properties belonging to our landlords.
2. PROPERTY PRICES
For Landlords looking to increase their holding of buy to let in Manchester there is a good supply of well priced property that will perform as a good investment for you across Tameside.
Ashton under Lyne provides the best yields due to the lower house prices. Droylsden also has a good yields, both these townships are well connected to Manchester via the new extended Metro line that is now complete.
We find that Denton is an incredibly popular area that tenants love, the average price maybe a little higher but I believe that landlords who buy there will also see good capital growth in the years to come due to the popularity of Denton. It will always be a popular place for First Time Buyers so you have a sound exit strategy there too.
Landlords should always consider a Housing Benefit tenant too, the figures show that you will achieve improved yields by doing so. For tenants the average rents range from the £428 in Stalybridge to £502.50 in Droylsden. These are average rents so there is often good supply in between these levels and some properties that are more expensive. If you are on Housing Benefit, ensure you have your first months rent and deposit saved up in order to secure your property. We encourage our landlords to consider HB tenants but having these funds in place will certainly put you in an excellent position.
- The above data was collated in June 2014, please find the below updated house price information for December 2016
Update to the Blog in December 2016 regarding price increases and how this might affect your strategy for Buy to Let in Manchester.
As you can see from the figures there has been at least a £20,000 price increase on properties in the Tameside areas in the two and a half years since June 2014. Rents have increased too but not as much comparatively so this means overall yields are down slightly. Those people who bought when prices were lower, like me, are happy with this news!
Even though prices are up and yields are down we still believe Tameside to be a popular area for buy to let in Manchester and is an attractive area for investors to look in.
3.BACKGROUND TO THE AREA
The Metropolitan Borough of Tameside is a metropolitan borough of Greater Manchester in North West England. It is named after the River Tame, which flows through the borough and spans the towns of Ashton-under-Lyne, Audenshaw, Denton, Droylsden, Dukinfield, Hyde, Mossley and Stalybridge. Its western border is approximately 4 miles (6.4 km) east of Manchester city centre. It borders Derbyshire to the east, the Metropolitan Borough of Oldham to the north, the Metropolitan Borough of Stockport to the south, and the City of Manchester to the west.
The METROLINK has now been extended from Manchester City Centre right the way through to Ashton. Tameside is served by THIRTEEN railway stations! The TRAIN is quick and efficient from Manchester Victoria or Manchester Piccadilly to Ashton and Stalybridge.
The access to the M60 is excellent, with Junctions 23 – 27 serving the area. There are a good range of local TAXI firms. when considering where to live or where to invest in buy to let in Manchester transport links are very important. Tameside is extremely well served.
We like Radio Cabs
Tameside benefits from a large number of schools across the whole area. It would be wrong of me to suggest a best and worst school without having firsthand experience of them. However we are aware of investment into many of the schools in the area turning some into Academies. These are well regarded by those that use them. You may want to use this BBC website to further research the schools by postcode area.
It is not possible for us to comment on individual schools however if you are looking at buy to let in Manchester and one of the Tameside towns is of interest you can do further research of the specific schools close by.
Tameside has a full range of all the major supermarket chains. All with ample parking and located at convenient locations across the borough.
We like Asda on Cavendish Street in Ashton.
7. RETAIL PARKS
There are also excellent of out of town shopping centres, with plenty of free parking. IKEA, The Snipe Retail Park and Denton’s Crown Point North to name a few. With all of these amenities not only brings an excellent choice of retail facilities to Tameside but also it brings employment opportunities.
When looking at your options of buy to let in Manchester or choosing where you are going to live, access to shops for your own amenities as well as possible empl;oyment opportunites is very important. We like M&S at Crown Point North.
Three rivers, the Tame, Etherow and Medlock, meander their way through the borough, their riverside tracks and pathways take you through ancient woodland and wildflower meadows. A network of local and national trails, such as the Trans-Pennine Trail, Tameside Trail and Tame Valley Way, link wide open countryside to the lesser known urban sites, many providing a green oasis on the edge of towns.
There are three Country Parks at Stalybridge, Werneth Low and Park Bridge. These are great places for a leisurely stroll or picnic with accessible paths and trails. Each park has its own visitor centre with car parking and toilets and seasonal displays and exhibitions on countryside topics. Here you can pick up maps and trail guides and information on wildlife and activities. From Hyde you can also easily access Glossop and further parts of the Peak District, for those who want the bigger adventures.
It is important to point out this amazing benefit to Tameside. Not only are the connections into the urban areas excellent but there is a wealth of outdoor space on the door step too. This makes it an attractive place to live for all. We love Stalybridge Country Park , for a summer evening stroll or a bracing walk in winter!
There are thirteen different leisure facilities across Tameside, provided by the council. Including swimming pools, gyms, gymnastic and bowling centres. There really is something for everyone. Then there are the football clubs and Dukinfield Rugby club too. No matter what you or your children are into there will be something for you on your door step. The area is very sociable too, with everyone having the friendly charm of the North West you are sure to make new friends if you attend one of these centres regularly. We like Dukinfield Rugby Club , well the kids like to play and we enjoy watching!
10. FOOD, DRINK & ENTERTAINMENT
Where to begin! There is something for everyone within Tameside as well as being close to all the major attractions of Manchester itself. If you like your football you are a stone’s throw from the Ethiad Stadium and connections to Old Trafford are good too.
The Ethiad and the MEN Arena are huge concert venues also and Manchester gets all the major touring artists. Keeping it a little more local there is the Showcase Cinema on Hyde Road and Cineworld in Ashton. For those that like to treat themselves to a nice meal out at the weekend there is a wealth of different restaurants catering for all tastes. There are some great pubs serving good pub food, a whole host of good Italians plus some excellent curries!
I hope this article has given you some guidance on considering Tameside as an option for your buy to let in Manchester or as a place to come and rent a proeprty. I strongly believe with the excellent yields and quality of housing available across Tameside it makes a very attractive investment location. There are many things to consider when embarking on buy to let in Manchester but I do hope this article has provided some useful information for you.
If you would like to talk to me about buy to let in Manchester then please feel free to contact me. I have properties across Greater Manchester and would be happy to share some of my knowledge with you.