The Greater Manchester property market – a five year reflection

Abode are delighted to have teamed up with WLM Consulting to take a look at the Greater Manchester property market over the last five years.


Any proven property investor will know that the key to successful investment is a deep understanding of any given area and the property market.

Figures are shadowed with a huge number of factors such as location, employment opportunities, and future developments (amongst many others).

When it comes to Greater Manchester, there has been a wealth of changes over the past five years that has impacted the local property market.

From 2015 through to 2019, property prices across the region have comfortably risen which can be attributed to a number of reasons. But firstly, let’s take a look at the figures.

Click the arrows under each graphic to view the next.

Slide1
« 1 of 4 »

Of all the areas in Greater Manchester, the inner city parts (such as Salford and Manchester city centre) have been benefiting from copious levels of investment into new and refurbished properties.

The appeal of new-build and high-spec refurbished properties (such as Chimney Pot Park) mainly focuses on working professionals; those are looking to be close to employment hubs and proximity to the wealth of transport links the region has to offer.

In having effort focused into properties in these areas, demand increases thus raising property prices and rental figures.

Areas to the east of Manchester city centre (particularly areas of Tameside) are benefiting from high levels of investment into public infrastructure.

For people who prefer to live away away from the inner city environment itself but still remain in touch with an urban landscape, these areas are particularly attractive alternatives; especially in the affordability scope of factors to consider when stacked up against areas such as Altrincham, Sale and Cheadle.

The places with lower percentage increases in property prices are the relatively remote parts of Greater Manchester predominantly in the north; stretching from Bolton across to Bury and Heywood, and through to Oldham and Rochdale.

Whilst investment has been prolifically made elsewhere in the region over these areas, that isn’t to say that they offer great scope for investment opportunities (two of Abode’s HMO landlords have recently undertaken their highest spec refurb of a HMO in Bury featuring a basement cinema room. The demand is certainly there).

Areas also increasing in value have benefited from being labelled as prime property areas.

Last year, The Times declared Altrincham as the best place to live in the North West; owing mainly to a £6 million high street transformation that has seen a wealth of trendy new businesses and amenities open, such as the Altrincham Market.

When taking a look at the bigger picture and what the past five years has presented for each town however, it shows another factor to take into consideration:

 

Click the arrows under each graphic to view the next.

Picture18
« 2 of 19 »

The number of property transactions across Greater Manchester, with the exception of Warrington, has seen a significant reduction.

It’s important to note the distinction however between the market ‘slowing’ in number of sales opposing to the growth in average prices.

The slowing in transactions makes competition less for investors on certain properties, meaning it can be easier to negotiate and get the investment opportunities that suit you to a better deal.

When it comes to finding a great deal on a property in Greater Manchester, the key to investing is in the right type of property in the right area; tailoring the location and living style within to your desired audience of tenants that are also attracted to the area.

Of course, the best method of property investment is ensuring your investments are hassle-free and let your property/cashflow do the work for you. Our full property management can offer you the perfect hands-free method of doing this; combining our extensive knowledge of each area in Greater Manchester with our tried, tested and proven property management experience. For more information, give us a call on 0161 883 2525.

Tags: , , , , , , , , , ,

No comments yet.

Leave a Reply

Become the forefront of local landlord knowledge

Subscribe to our monthly newsletter for the latest landlord and industry news, buy to let tips and upcoming property developments. Your details will never be shared and you can unsubscribe at any opportunity.
Email address
Secure details and no third party spam, guaranteed.