A shift in desirable areas?
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Alaine Bradbury, Estates Manager, PAD4U, Manchester Letting Agents, writes:
Manchester has always been a good place for property investment with its university recently boasting statistics of over 40,000 students studying 500 academic programs and more than 10,000 staff, this makes it the largest single-site university in the United Kingdom.
The once notorious Moss Side has shaken off its 1980’s stereotype and after millions of pounds investment is one of Manchester’s popular areas for newcomers with the curry mile, universities and town centre a few munities away.
Looking forward into the future; Openshaw has seen a lot of development in the last 2-3 years with the Sports City complex providing local supermarkets and shops it is attracting family from other areas. Also on the ‘up an coming’ area is Ancoates and little Islington with new flats and houses springing up boasting a canal side location this are is attracting a lot of buy to let landlords as many of the new builds are going at reasonable prices in the credit crunch.
Levenshulme and Longsight have abundance of 2 up 2 down houses which offer timeless popularity. It has long been appreciated that this area is a abundance of multicultural activity with Indian and Pakistani takeaways, Jamaican food specialists and the Irish pubs! But to mention a few. We are still experiencing rents at a average of £399—£450 whist some of the 3 bedroom properties at £600 To £650.00 are struggling as nearby Burnage, East Didsbury prices are dropping rents, family tenants are looking across to areas that offer a more desirable location. For the young professionals, City center living prices have fallen to an all time low, tenants can now look to secure a city centre swanky 2 bed apartment with on suite and parking space from as little at £650.00 pcm.
Gorton is getting a lot of ’bad press’ at the moment, with many of tenants concerned because of robberies here and violent crime. Some of our properties refurbished to a high standard are getting feedback that they are on the ‘’wrong side of Hyde Road’’. The right side being towards the Abbey Hey area. We expect these problems will pass and more positive news of developments such as the new Tesco will entice tenants into what is a good value for money area.