What's a good area in or around Manchester to purchase a buy-to-let property?

NiceGuySteady

Hello.

I'm looking to purchase a buy-to-let house in or around Manchester due to its reputedly high yields, and having seen how helpful people are on other property-related matters, I was wondering whether the delightful contributors of MSE could be of some assistance.

Although something inside the M60 ring road would be good, I'm happy to search outside if it means making a much better investment. I have no more than £100,000 to spend, maximum.

My priorities are twofold: firstly, to buy a property in an area which has a healthy demand for rental properties so I can usually be guaranteed tenants; and secondly, to buy a property which has a strong chance of ascending in value over the coming years.

My knowledge of Manchester is only as strong as the map I have. Obviously I'm learning more about the area through other avenues (including speaking to estate agencies and making visits) but I thought some folk on here might have some valuable input to add.

Any and all advice most welcome!

AdrianC

Take a look at the kind of place the experts go for - most of TheHouseCrowd's properties are in Manchester, and in your budget.

C_Mababejive

It isnt just the house thats the issue,its the tenants who will go in it. With a small budget it may not be a house in the best of areas so the punters wont be the best either.

alibean121

Yields on posh city centre flats are unreal but that's a bit over your budget. As a renter, I can't wait to buy, my mortgage payments would be literally half my rent.

I've never studied it, but yields seem more normal out of the centre (which you can't really afford) so I'm not sure what the specific draw of manchester is.

Windsorcastle

Chorlton would be my pick. A nice, relatively safe area with good bars, cafes etc, and reasonable travelling distance into city centre.

But are you thinking of renting to students? I wouldn't but if I was going to, I'd go for the Victoria Park area. One of the nicer studenty areas.

silvercar

But are you thinking of renting to students? I wouldn't but if I was going to, I'd go for the Victoria Park area. One of the nicer studenty areas.

If I was renting to students I would only pick Fallowfield, Victoria Park may be nicer but the competition from private halls is greater.

Red-Squirrel_2

If you're looking at city centre, there are flats and studios on the outskirts that are in your budget and are populated by younger people who want the city centre lifestyle but can't afford the higher rents of being right in the heart of town or the trendier bits like Castlefield and NQ.

This block seems to rent out well, baffles me because it looks like a nightmare to live in, but its a few minutes walk from town and rents are cheap because the units are tiny but have somehow managed to market themselves as 'innovative'.

http://www.rightmove.co.uk/property-for-sale/property-52164275.html

http://www.rightmove.co.uk/property-for-sale/property-52534382.html

silvercar

Students aside, pick an area where the tram is forecast to reach in years to come.

Red-Squirrel_2

Windsorcastle wrote: »

Chorlton would be my pick. A nice, relatively safe area with good bars, cafes etc, and reasonable travelling distance into city centre.

Not much property in Chorlton for £100,000 though.

Windsorcastle

Red-Squirrel wrote: »

Not much property in Chorlton for £100,000 though.

True. And Fallowfield is more affordable and prime student country but I'd be thinking I'd need deep pockets to clear up every summer after my house has been ransacked by students!

And I speak as someone who spent many a Lambrusco-fuelled evening crashing around houses in Fallowfield many moons ago. Ah, those were the carefree days!! :rotfl:

cte1111

Look at Gorton or Levenshulme maybe.