North West Property Market Sees Highest 5-Year Growth
Location is one of the key factors to successfully invest in property, affecting both house price patterns and the strength of the rental market. Any savvy investor looking to achieve the best possible capital gains will do their research and know that the North West property market is the number one hotspot for investors across the globe.
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Previously, investors may have been tempted to put their money into the Capital, in London; however, for the last several years, it has been obvious that the North West region, specifically Manchester, has consistently outgrown and outperformed the southern property market.
North West property prices have grown hugely in the past 5 years, by around 29% since March 2020, according to latest reports by home.co.uk, with the national average sitting at around 15% growth.
In contrast, Greater London has seen just a 5% increase in average prices.
The North/South Divide
Overall, the entire UK has seen a decent level of growth considering the political and economic changes that have had an adverse effect, but it is clear to see that the North West has massively outperformed the rest of the country, and is showing no signs of slowing down.
Even with the end of the Stamp Duty freeze, the prosperity for growth in the North has continued to thrive; with homes being cheaper on average than in the south of the country, this has helped lessen the strain, alongside interest rates reducing to encourage more and more buyers to the market.
Where to invest in the North West
Manchester is the biggest major city in the North West, and stands out in the investment market as it offers consistent high yields and some of the strongest price growth opportunities across the country.
With an unmatched level of tenant demand that consistently boosts the rental market, and the huge levels of regeneration across Greater Manchester, investors are offered an affordable and profitable investment in a thriving location.
If you're looking to invest, or want to get further information, reach out to our expert team today.
