Residential Property to Buy in Manchester

[anand joseph]

Hi

im not a resident of UK and would like some information on property to purchase in manchester. The reason im looking at manchester is
a) i do not have the budget to invest in london
b) i feel that due to higher cost of living in london, companies will look to move to other cities and manchester is ideal that way

im looking to purchase a residential property with a total budget of 100-125000 pounds. i've noticed quite a few projects coming up in Salford and spoken to agents regarding this. But since i dont have an understanding of the city, i'm finding it difficult to make up my mind. are these projects (media city, salford quays etc) a good investment? would you suggest other areas in manchester / types of property.

im looking for a mix of a decent rental income (around 6%) and capital appreciation in relation to the market

any advice would be highly appreciated

 

[nmb]

I lived in Manchester about 15 years ago and it was an up-and-coming city even back then. Large areas of the city and the surrounding regions have been redeveloped beyond all recognition. When I lived there Salford was an up-and-coming property market and if my memory serves me correctly I believe that the BBC recently moved its head office to Salford.

I would strongly recommend looking at the surrounding regions as well because Manchester city centre property prices have been extremely strong for many years. The transport system in the shape of the metro/tram has extended the reach of commuters and you may find better value for money along these lines.

 

[anand joseph]

I lived in Manchester about 15 years ago and it was an up-and-coming city even back then. Large areas of the city and the surrounding regions have been redeveloped beyond all recognition. When I lived there Salford was an up-and-coming property market and if my memory serves me correctly I believe that the BBC recently moved its head office to Salford.

I would strongly recommend looking at the surrounding regions as well because Manchester city centre property prices have been extremely strong for many years. The transport system in the shape of the metro/tram has extended the reach of commuters and you may find better value for money along these lines.

thanks for your help nmb. could you perhaps point me in towards which suburbs i could look at. or what would be great is if you have a contact or know any real estate agent that i could speak to

much appreciated

 

[nmb]

Hi @anand joseph

While I still keep a general eye on the Manchester property market I do not follow it closely enough to recommend specific suburbs. If I was looking to invest in residential property in the Manchester area I would probably check the various tram routes and see which areas offer best value. I could literally travel 10 miles in less than half an hour door-to-door using the tram system - perfect!

 

[anand joseph]

thanks once again nmb. appreciate your time