Manchester Highly Ranked For Students
When it comes to the buy-to-let market, it is helpful to buy property in an area where there is a massive demand for property. Even though the current demand for a rental property in the UK crosses all boundaries and backgrounds, there are certain features many investors require. Due to the changing nature of markets, it makes sense to choose an area that has a strong foundation for letting.
One of the most robust foundations for rental property is the student population. A town or city with a substantial student population is suitable for investors. Not only do students need a rental property but when students graduate and look for jobs in the city, they continue to need rental accommodation.
Students come from near and far to enjoy Manchester
Manchester is a fantastic city for further and higher educational purposes, and it has a sterling global reputation. Improvements at Manchester Airport, strengthening connections around the world, helps draw students from many countries, but the status of the city and the Universities ensures that Manchester is highly ranked for students.
A recent carried out by AppJobs has examined cities and their suitability to students Key factors considered in the research include the cost of rent, the number of educational institutions in the city, the number of jobs (including part-time jobs) on offer, entertainment options and even the price of a pint. To anyone who has experienced Manchester, it will come as no surprise that the Northern city is listed in the Top 10 Cities of the world for students. Manchester comes in 7th, with the Top 5 comprised of Prague, Moscow, Berlin, Beijing and Tokyo.
Manchester is an affordable option for many students
The affordability of rent in Manchester was a crucial component in the city’s high ranking. The city came fourth overall concerning the cost of renting, and of course, the more affordable the rent, the more disposable income students have for entertainment. The nightlife in Manchester is hugely entertaining, ensuring that whatever interests a student has, they should find it on offer here.
The Head of Growth for AppJobs, Iwona Polog, said; “Attending university can be a life-changing experience and it is important to choose the right location. University challenges students not only academically, but is also the first time many have lived independently and potentially moved to a new city.”
The demand for educational opportunities in Manchester impacts on the city's rental market. The more students there are in the city, the higher the demand for rental accommodation. Many landlords across the UK are happier to look outside of their local area, switching attention to areas in high demand and which can offer a suitable return on investment.
Many investors have decided the London property market is overpriced, especially concerning the student market. Manchester has more affordable property, which in turn helps to develop a rental yield that London cannot offer.
If you are looking to invest in the buy-to-let market and want guidance on where in Manchester is best for you, speak with a local expert. At Peter Anthony, we are pleased to say we have helped many landlords and investors find their ideal property, so click on the link to find out how we can help you let property in the city.