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Buying a property in Manchester: a complete guide

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property investment Manchester

Yes, the analysis of Manchester's property market is included in our pack

Have you ever thought of investing in real estate in Manchester? You're not alone!

Many people are drawn to Manchester's vibrant music scene and fantasize about owning a stylish loft or a modern city apartment there.

Is it worth investing there, though? Are property prices increasing in Manchester? What is the price per sqm? Should I buy property in the city center or Northern Quarter? Are there any hidden fees? What rental yields should I expect?

In this article, everything is sorted out for you.

The Investropa team knows this market like the back of their hand. As a matter of fact, we've organized all our findings in a pack. Get it now.

In the lines below, we'll provide you with helpful information.

How is the real estate market in Manchester?

Is the property market doing well or poorly? Data will provide us with answers.

Types of properties

In Manchester, there are various types of properties available for sale.

These include apartments, which are usually located in buildings with multiple units and offer convenience for urban living. Houses, both detached and semi-detached, provide more space and often come with a private garden. Terrace houses are connected in a row and offer a mix of space and community feel.

Additionally, there are bungalows that provide single-level living, ideal for those who prefer avoiding stairs.

Lastly, you can find commercial properties like shops and offices for sale, catering to business needs.

Buy or rent?

(If you're buying for yourself and not to rent out)

If Manchester is your city of choice, you may be pondering the buy vs. rent decision in this vibrant city in the United Kingdom.

Without a doubt, you should buy if you want to acquire equity and benefit from potential appreciation in property value over time.

One data can help you make a decision - the property price-to-rent ratio. Use this metric to see how rental income can help you pay off the property over time.

According to Numbeo, the property price-to-rent ratio in Manchester is around 18.68, which is around the world average.

Simply put, it would typically require 19 years of rental payments to buy a property in Manchester.

Property prices in Manchester

On average, according to the last data from Halifax and Bank of Scotland, purchasing a property in Manchester should cost you around $2,900 per square meter.

There are significant differences, clearly. The value of a square meter for a city-center apartment in Manchester might differ from a suburban home in Didsbury. You'll get a more detailed in our pack for buying property in Manchester and in the UK.

To help you understand better, it is 6.6 times less than the property prices in the center of New York.

Also, housing prices in Manchester are 79% cheaper than in London.

The most expensive neighbourhoods in Manchester are probably Didsbury and Hale, while the cheapest are likely Cheetham Hill and Gorton.

Manchester Property Price per Square Meter


First and foremost, we have to acknowledge that the United Kingdom remains, today, a very stable country. The last Fragile State Index that has been reported for this place is 40.6.

This is important to remember when wondering if it's a good investment to buy a property in Manchester.

Also, according to the IMF’s forecasts, the UK's economy is expected to soar by 6% in the coming 5 years, resulting in an average GDP growth rate of 1.2%.

If you intend to invest in real estate in Manchester it's a good thing because when the economy grows, people often experience an increase in wealth, it typically translates to a surge in housing costs.

Also, in the UK, the average GDP per capita has changed by 0.5% over the last 5 years. The growth, although minimal, is still present.

Looking for more updated data? We've done a big-picture study to find out if it's a good idea to purchase property in the UK right now.

Buying property in Manchester

Buying real estate in Manchester can be challenging due to the difficulty of obtaining reliable and up-to-date information. That's why we have created the pack to buy property in Manchester and in the UK.

Buying process

Inside our pack, we've outlined the complete buying process, including a detailed breakdown of prices and yields per area, tips for negotiating the price, and information about mortgage options.

Here, we're presenting you with a more straightforward version.

This is the step-by-step process to purchase a property in Manchester:

  1. Save for a deposit and determine your budget.
  2. Obtain a mortgage pre-approval from a UK lender.
  3. Engage a reputable estate agent familiar with Manchester properties.
  4. View potential properties in various neighborhoods.
  5. Make an offer through the estate agent, using a Memorandum of Sale.
  6. Negotiate the price and terms, considering the property's Energy Performance Certificate (EPC) rating.
  7. Instruct a solicitor experienced in English property law to handle conveyancing.
  8. Conduct property searches, including local authority, environmental, and drainage searches.
  9. Finalize the mortgage application with required documentation, like bank statements and ID verification.
  10. Exchange contracts after both parties agree on terms and conditions, including a 5-10% deposit payment.
  11. Transfer the remaining funds to complete the purchase, including Stamp Duty Land Tax (SDLT) for properties above a certain value.
  12. Complete the transaction, receive the Transfer Deed, and get the keys to become the property owner in Manchester.

Also, if you're not from the country, you might want to check our article on how to buy property as a foreigner in the UK.

Make a profitable investment in Manchester

Better information leads to better decisions. Save time and money. Download our guide.

buying property in Manchester

Where to find a property

Check out these websites to find properties in Manchester:

  • Zoopla - Find properties, check house prices, and get expert advice on buying, renting, and selling homes.
  • Rightmove - A property search platform in the UK, offering homes for sale and rent, house prices, and property news.
  • Find UK Property - Specialists in UK property for overseas buyers, UK expats, and buy-to-let investors. They offer low-cost houses with guaranteed rent and property management.
  • - The UK's comprehensive property search platform, connecting buyers and renters to over 566,000 properties and numerous estate and letting agents.
  • On the Market - A property search platform offering UK homes for sale and rent, featuring new properties before they appear on Rightmove or Zoopla.

Also, know that we have included contacts of real estate agencies, property lawyers, moving companies, expats communities and more in our pack for buying property in the UK.

What you can get

As mentioned before, the average price per sqm in Manchester is $2,900. A 1-bedroom property with an area of 60 square meters would cost approximately $174,000, and a 2-bedroom property with an area of 85 square meters would cost approximately $247,000.

However, property prices can vary because of their qualities and where they're located.

Property prices in the top areas of Manchester are commonly at a premium. A condominium in Didsbury might cost you around $330,000, while a residence in Castlefield could be priced at $650,000.

But, there are cheaper places. You may find an apartment in Beswick for $100,000, or you might discover an apartment in Gorton priced at only $80,000.

Find a more detailed breakdown in our full pack for buying property in the UK.

Common mistakes

Here are the main pitfalls when buying property in Manchester, England:

  • Overpaying due to Manchester's property market fluctuations.
  • Underestimating the cost of maintaining heritage-listed properties.
  • Ignoring potential flooding risks from nearby rivers like the Irwell and Medlock.
  • Failing to research the impact of Manchester's ongoing regeneration projects on property values.
  • Overlooking the risk of Japanese knotweed infestations, common in the region.
  • Not considering the implications of Manchester's strict conservation area regulations on property alterations.
  • Ignoring the potential for high ground rent charges in leasehold properties.
  • Failing to account for potential subsidence issues due to the city's industrial past and mining activity.

We don't want this to happen to you, so we have included a full checklist for your property investment in our pack of documents. Avoid these mistakes and save a lot of money.

real estate The United Kingdom

Everything you need to know is included in our United Kingdom Property Pack

Living in Manchester

Living in Manchester is a great option for those looking for an exciting city lifestyle with plenty of amenities, great transport links, and a vibrant culture.

Cost of living

The cost of living in Manchester is quite reasonable, with affordable housing and relatively low prices for food and other necessities. Additionally, the city is known for its vibrant culture and nightlife, making it an attractive destination for those on a budget.

Here are some examples to better understand the cost of living in Manchester:

  • Monthly rent for a modern apartment in the trendy Northern Quarter neighborhood: £900-£1,600.
  • A pint of local Manchester craft beer (e.g., Cloudwater or Marble Brewery): £4-£6.
  • Monthly transportation pass for buses and trams within Greater Manchester: £70-£100.
  • A cup of traditional Manchester-style tea with a slice of Manchester tart: £3-£5.
  • Admission to the Manchester Art Gallery: Free (donation optional).
  • Monthly membership at a Manchester-based fitness studio or CrossFit box: £30-£60.
  • Fresh produce from the Arndale Market for a week: £20-£40.
  • A bottle of local Manchester gin (e.g., Manchester Three Rivers Gin) from a liquor store: £25-£40.


We want to show our information in an easy-to-understand way. So, we made a summary table that shows the different areas in Manchester. For yields, prices and rents, check our property pack.

Neighborhood Description Strengths Weaknesses


Castlefield is a historic district with beautiful canals and industrial architecture, offering a charming and picturesque setting.

Scenic views, cultural attractions, and proximity to the city center.

Can be crowded with tourists, limited green spaces.


Chorlton is a vibrant and diverse neighborhood known for its independent shops, cafes, and green spaces, attracting a creative community.

Lively atmosphere, strong sense of community, and excellent local amenities.

Higher property prices, limited public transport options.

Northern Quarter

The Northern Quarter is a trendy and artistic area filled with street art, unique boutiques, and lively nightlife.

Creative vibes, plenty of entertainment options, and diverse dining scene.

Noisy at night, limited parking, and can get crowded on weekends.


Didsbury is an upmarket suburb with leafy streets, parks, and elegant Victorian houses.

Highly desirable residential area, good schools, and beautiful green spaces.

Expensive housing, limited public transport links to the city center.


Rusholme is known for its vibrant Curry Mile, offering a diverse range of restaurants and shops.

Rich culinary scene, multicultural atmosphere, and affordable housing.

Heavy traffic, some parts can be less well-maintained.


Hulme has undergone urban regeneration and offers modern housing and cultural spaces.

Close to the city center, diverse community, and improved amenities.

Historically had a bad reputation, limited green areas.


Ancoats is a former industrial area turned into a trendy neighborhood with renovated warehouses, trendy bars, and restaurants.

Unique industrial charm, vibrant nightlife, and cultural attractions.

Can be noisy, limited green spaces, and increasing popularity may raise living costs.

Whalley Range

Whalley Range is a residential area known for its grand Victorian and Edwardian homes.

Historic architecture, peaceful atmosphere, and good transport links.

Limited shopping options, some areas may feel less safe at night.

Life in Manchester

Manchester is a major city and economic hub in the UK, and is home to a diverse range of industries, including financial services, retail, media, and technology. It is also a major centre for business and culture, with a thriving economy and a great quality of life.

What expats usually like the most in Manchester is the vibrant nightlife and a wide range of cultural attractions, such as the Manchester Art Gallery and the Northern Quarter.

You have to know that Manchester is not the safest city in the world. Currently, the crime rate index is at 55, which is not low. The most common crimes in Manchester are theft, burglary, vehicle crime, and violent crime.

A good point for a property investor - Manchester has a light rail system known as the Metrolink, which opened in 1992.

Access to healthcare in Manchester is more than excellent, with a Healthcare Index of 78. You probably know that when there's a solid healthcare setup, it makes a location more appealing, which benefits real estate.

Finally, it is worth noting that University of Manchester ranks among the top 60 universities in the world.

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Renting out in Manchester

This part is for you if you want to buy a property with the goal of renting it out and making money from it, rather than living there.


Tenant Profiles in Manchester

According to the data reported by Wikipedia, the home ownership rate in the UK is 63%, which is not much.

It means that, if you decide to buy and rent out in Manchester, there will be a lot of people who can become your potential tenants.

If you decide to buy and rent out to long-term tenants, you should target young professionals, couples, and families who work in the city's many corporate offices, as well as students from the universities and colleges in the area. Manchester is also a popular destination for tourists, so short-term rental opportunities are also available.

Here is a little summary table we've made for you.

Property type and area Profiles of potential tenants What they are looking for Expected monthly rent in $

Studio in Northern Quarter

Youthful, artsy renters

Urban living, nightlife

$800 - $1,800

Apartment in Deansgate

Professionals, city workers

Central location, convenience

$1,200 - $2,500

House in Didsbury

Families, academics

Suburban comfort, schools

$1,800 - $3,500

Flat in Salford Quays

Young professionals, creatives

Waterfront living, culture

$1,000 - $2,200

1-Bedroom Apartment in Ancoats

Tech workers, students

Modern amenities, cafes

$900 - $1,800

Penthouse in Castlefield

Affluent renters, executives

Exclusive living, views

$2,500 - $5,000

2-Bedroom Flat in Chorlton

Young couples, professionals

Laid-back lifestyle, parks

$1,200 - $2,500

Rental yields

Nowadays, the rental yields you get in Manchester are between 5% and 7%. There are some opportunities. So you know, a "good" rental yield is above 7%.

Manchester's city centre and Salford Quays offer the best rental yields due to their high demand from young professionals looking for city centre living. These areas are close to transport links, universities and amenities, making them attractive to tenants and investors alike.

For further explanation and a more detailed breakdown, you can check the reports and analyses we have made.

Finally, be aware that rental incomes in Manchester are taxed at 20%, which is rather good.


You could also decide to rent short-term to students attending the University of Manchester or business professionals visiting the city for conferences. Additionally, Manchester is a popular tourist destination, so you could rent short-term to international travelers looking to explore the city.

If you decide to go with that option, look for properties in the city centre, particularly around Piccadilly, Oxford Road, and the Northern Quarter. The student-filled Fallowfield and Withington neighborhoods are also popular areas for short-term rentals.

Currently, there are approximately 6,000 active Airbnb listings in Manchester, reflecting a highly dynamic and bustling short-term rental market. The average daily rate stands around $163, which is quite high.

You have the opportunity to generate a nice additional income stream then. According to online testimonials and analytics platform like AirDNA, Guesty and Inside Airbnb, people who offer short-term rentals in Manchester can make around $1900 per month. Also, the average occupancy rate is estimated at 55%.

Is it worth buying real estate in Manchester then?

Buying property in Kyiv can be a fantastic idea if you plan to settle down in the city for the long haul, have the financial means to make the investment, and are keen on building equity over time. It offers stability, freedom from rent hikes, and a sense of belonging.

Plus, Kyiv's real estate market has shown growth potential, making it an attractive prospect for those seeking financial returns through property appreciation and rental income.

However, it's not a great fit if you're only staying in Kyiv for a short period or lack the necessary funds to cover upfront costs and ongoing maintenance. Renting can be a more flexible and financially prudent option under such circumstances, allowing you to avoid the complexities and commitments of property ownership.

Moreover, if you're uncertain about Kyiv's economic stability or future property values, it's wise to exercise caution and remain in the rental market until you have a clearer picture of the real estate landscape.

Ultimately, the decision to buy property in Kyiv should align with your specific circumstances, financial situation, and long-term goals.

Make sure you understand the real estate market in Manchester

Don't rush into buying the wrong property in the UK. Sit, relax and read our guide to avoid costly mistakes and make the best investment possible.

real estate market Manchester

The content provided here is for informational purposes only and does not imply endorsement or advice. While we strive for accuracy, we do not guarantee the completeness or reliability of the information, including text, images, links, or other elements in this material. Following the content and analyses presented here does not assure specific outcomes. For guidance tailored to your individual circumstances, it is recommended to consult with a professional, such as a lawyer, accountant, or business advisor.