Yes, the analysis of Manchester's property market is included in our pack
The question of 'the best neighborhood to buy a property in Manchester' does not have a one-size-fits-all answer.
Some of you are buying to live there, while others want to make the best investment possible. Individual preferences and circumstances matter.
That’s why the article below is covering every intent.
At Investropa, when we write a blog post or when we update our our property pack for the UK, we want to bring solutions and cover different aims in a clear and organized way.
Enjoy the read, and please remember that we are not financial or investment experts. This article is for informational purposes only.
To improve the readability and user-friendliness of this article, we will categorize neighborhoods in Manchester into various groups, including budget-friendly options, emerging hotspots, and areas with high rental demand, among others. Consequently, some neighborhoods may appear in multiple categories and be mentioned several times throughout the article.
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How is the real estate market in Manchester?
The real estate market in Manchester is currently experiencing a dynamic and positive trend.
This surge in interest and value is driven by several unique strengths that Manchester offers, making it a desirable location for a range of buyers, including an increasing number of foreign investors.
One of Manchester's most significant strengths lies in its rich cultural and historical heritage, which is quite unique. The city is home to iconic football clubs like Manchester United and Manchester City, drawing sports enthusiasts worldwide.
Additionally, Manchester's music scene, historically linked to bands like Oasis and The Smiths, adds a cultural depth that you won't find in many other cities.
People are drawn to buy in Manchester for various reasons. The city boasts a strong job market, particularly in the technology and creative sectors, attracting young professionals and families alike. Education is another draw, with the University of Manchester being a world-renowned institution.
These factors, combined with a vibrant nightlife and diverse culinary scene, make Manchester a well-rounded choice for those seeking a balance of work, education, and leisure.
Foreign interest in Manchester's real estate is notably high. This is partly due to the city's global connectivity, with Manchester Airport providing easy international access.
Additionally, the city's ongoing development projects, like the expansion of MediaCityUK, are creating new investment opportunities that are particularly attractive to overseas buyers.
The dynamism of Manchester's real estate market can be backed by a specific data point: the consistent rise in property values over recent years. For instance, Manchester has seen a higher percentage increase in property prices compared to the national average, indicating a robust and growing market.
A unique aspect of Manchester's properties is the prevalence of converted industrial buildings. These conversions, often from former warehouses or factories, offer a blend of modern living spaces with historical charm, a feature that's distinctly Manchester and highly sought after.
Looking to the future, there are several reasons why properties in Manchester are expected to gain value.
Ongoing infrastructure projects, like the HS2 high-speed rail link, will enhance connectivity and attract more businesses to the city. The continuous development of the city's tech and creative hubs is also likely to bring in a skilled workforce, boosting demand for housing.
Additionally, Manchester's commitment to sustainable development and green spaces is increasingly important to modern buyers, further enhancing the city's appeal.
Top neighborhoods in Manchester to consider for living
Areas in Manchester that are budget-friendly
If you're looking to buy property in Manchester on a budget, there are a few neighborhoods you might want to consider.
Here is a summary table. Below, we will give more details.
| Neighborhood | Average Price per sqm | Property Types | Residents | Potential for Value Increase | Strengths | Weaknesses |
|---|---|---|---|---|---|---|
| Clayton | Lower than central areas | Traditional terraced, new developments | Young professionals, families | Ongoing regeneration | Improving infrastructure, proximity to city center | Some areas still developing |
| Moston | Competitive | Traditional semi-detached, terraced houses | Long-term residents, newcomers | Gradual investment and development | Affordable housing, strong community sense | Limited amenities and transport links |
| Beswick | Lower than central Manchester | New housing developments | Young professionals, families | Proximity to city center, ongoing development | Proximity to city center, ongoing development | Lack of established feel and amenities in some parts |
Clayton
In Manchester, one of the most affordable areas for buying property is Clayton.
It's budget-friendly primarily due to its past reputation as a less developed area, which has kept prices low. However, ongoing regeneration projects are likely to increase property values in the coming years. You'll find a mix of traditional terraced houses and newer developments, catering to a range of preferences.
The average price per square meter in Clayton is relatively lower than in more central areas, making it a good investment opportunity. The community is diverse, including young professionals and families, contributing to a dynamic neighborhood feel.
The strengths of Clayton include its improving infrastructure and proximity to the city center. However, be aware that some parts are still undergoing development, which might be a drawback for those seeking a more established area.
Moston
Moston is known for its value for money due to its distance from the city center and historical perception as a working-class neighborhood.
Properties here are mainly traditional semi-detached and terraced houses, appealing to families and first-time buyers. The average price per square meter in Moston is quite competitive, offering good space for your investment.
The population is a blend of long-term residents and newcomers, creating a strong sense of community. Moston is seeing gradual investment and development, hinting at potential growth in property values.
Its strengths include affordable housing and a sense of community, but it's worth noting that it lacks some of the amenities and transport links found in more central areas.
Beswick
Beswick is traditionally been more affordable due to its industrial past and ongoing redevelopment.
This neighborhood is seeing new housing developments, making it attractive for investors and homebuyers looking for modern properties. The average price per square meter in Beswick is lower than in central Manchester, presenting a good opportunity for budget-conscious buyers.
Beswick's community is diverse, including young professionals and families, attracted by the affordable housing options. The area's strengths are its proximity to the city center and ongoing development, which is likely to boost property values.
However, as it's still in transition, some parts of Beswick might lack the established feel and amenities of more developed neighborhoods.
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Areas in Manchester that are popular and upscale
When looking to buy property in Manchester, three neighborhoods stand out as upscale and popular choices. These neighborhoods each have their unique character and draw different types of residents.
| Neighborhood | Average Price per sqm | Resident Demographics | Strengths | Weaknesses |
|---|---|---|---|---|
| Didsbury | High | Affluent professionals, families | Great schools, dining, community feel | High cost of living |
| Chorlton | High | Young professionals, creative types | Vibrant culture, green spaces | Gentrification, rising prices |
| Spinningfields | Very high | Affluent professionals | Central location, modern amenities | Corporate atmosphere |
Didsbury
Didsbury is a high-end area known for its Victorian houses and lush parks.
It's expensive because of its aesthetic appeal, thriving community, and accessibility to Manchester city centre. Properties in Didsbury are a mix of spacious family homes and modern apartments.
The average price per sqm in Didsbury reflects its status as a premium location. Residents are typically affluent professionals and families.
Strengths include great schools, dining, and a community feel. Weaknesses? The cost of living and property prices in Didsbury are high, which might not suit everyone.
Chorlton
Chorlton is popular for its bohemian vibe and independent shops.
The properties in Chorlton are varied, from Edwardian and Victorian houses to contemporary apartments. It's expensive due to its unique culture, proximity to the city centre, and transport links.
The average price per sqm in Chorlton is high, reflecting the demand. It's home to a mix of young professionals, families, and creative types.
Strengths are the lively food and music scene, and green spaces. However, the popularity has led to rising prices and gentrification concerns.
Spinningfields
This is Manchester's modern financial hub. Known for luxury apartments and high-end offices, it’s a sought-after location for affluent professionals.
The properties in Spinningfields are mostly modern, upscale apartments, and the average price per sqm is among the highest in Manchester.
The area boasts high-end dining and shopping options. Strengths include its central location and modern amenities.
However, it can feel less personal and more corporate, which might not appeal to everyone.
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.
Areas in Manchester that emerge as new hotspots
Let's explore these emerging neighborhoods in Manchester that, according to our local partners and our customers, are getting quite a bit of buzz lately.
| Neighborhood | Current Price Trend | Resident Demographics | Strengths | Weaknesses |
|---|---|---|---|---|
| Ancoats | Rising | Young professionals, creatives | Industrial-chic style, eateries | Ongoing construction |
| Northern Quarter | Relatively lower, rising | Artists, musicians, entrepreneurs | Cultural scene, central location | Noise, fast-paced |
| Salford Quays | Affordable, rising | Young professionals, media workers | Waterfront living, modern amenities | Lacks historic charm |
Ancoats
Once an industrial heartland, Ancoats has transformed into a vibrant residential area.
Initially, it was dotted with old mills and factories. Now, it's becoming a hub for young professionals and creatives, attracted by its industrial-chic apartments and trendy eateries.
Prices in Ancoats are cheaper than in traditional popular areas due to its ongoing development and industrial past. Prices are expected to rise as the area continues to gentrify.
It’s popular for its unique blend of historic character and modern living. However, ongoing construction and gentrification might be downsides for some.
Northern Quarter
Known for its quirky character, the Northern Quarter has evolved from a neglected area to a cultural hotspot.
It appeals to artists, musicians, and young entrepreneurs. Property prices in Northern Quarter are relatively lower here, making it an attractive investment.
The area's transformation is driven by an influx of independent businesses and art galleries. It’s expected to remain popular due to its creative atmosphere.
Strengths include its cultural scene and central location. Weaknesses are noise and a fast-paced environment.
Salford Quays
Once a bustling port, Salford Quays has reinvented itself into a modern residential and commercial area.
Initially industrial, it now boasts contemporary apartments and offices, attracting a diverse population, including young professionals and media workers.
Prices in Salford Quays are more affordable compared to central Manchester areas but are rising steadily due to development and demand. Its popularity should continue, thanks to developments like MediaCityUK.
Strengths include waterfront living and modern amenities, but it lacks the historic charm of central Manchester.
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Top neighborhoods in Manchester to invest in property
Areas in Manchester with a strong rental demand
If you're considering buying real estate in Manchester for renting it out, these neighborhoods with high demand for rentals should be considered.
| Neighborhood | Tenant Profile | Property Type | Average Rental Income | Rental Yield | Tips for Investors | Weaknesses |
|---|---|---|---|---|---|---|
| Didsbury | Professionals, Families | Victorian Houses, Modern Apartments | £800 - £1,000 (2-bed) | 5-6% | Near Schools, Metrolink | High Property Prices |
| Ancoats | Students, Young Professionals | Modern Apartments | £750 - £950 (1-bed) | 6% | Near Social Hubs | Tenant Turnover, Construction |
| Salford Quays | Media Professionals | Waterfront Apartments | £850 - £1,200 (2-bed) | 5-7% | Near MediaCityUK | Potential Oversupply |
Didsbury
Didsbury is a highly sought-after area for long-term rentals, especially among professionals and families.
Its appeal lies in its vibrant community, green spaces, and excellent transport links to Manchester city center. Properties in demand in Didsbury typically include well-maintained Victorian houses and modern apartments.
The average rental income for a two-bedroom apartment in Didsbury ranges from £800 to £1,000 per month, offering a rental yield of approximately 5-6%. Investors should consider properties close to popular schools or Metrolink stations to attract long-term tenants.
However, the high property prices in Didsbury can be a deterrent, and there's competition from existing high-standard rentals.
Ancoats
Ancoats, known for its industrial heritage, now attracts a younger demographic, including students and young professionals.
The area's popularity stems from its trendy eateries, cultural hotspots, and proximity to Manchester city center.
The demand is mainly for modern apartments, with rental incomes for a one-bedroom apartment around £750 to £950 per month, yielding around 6%. Investors should focus on properties near social hubs and transport links.
However, be aware of the potential for higher tenant turnover and the ongoing construction work in the area.
Salford Quays
Salford Quays is a hub for media professionals, given its proximity to MediaCityUK.
The area is popular for its modern living spaces, waterfront properties, and amenities. T
Two-bedroom apartments, especially those with views of the waterfront in Salford Quays, are in high demand, with rental incomes of £850 to £1,200 per month and yields of around 5-7%. Properties near MediaCityUK or the Lowry Theatre are particularly attractive.
The downside is the potential for oversupply in the market, which could affect rental incomes and occupancy rates.
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Areas in Manchester where property prices might increase in the future
In these areas in in Manchester you can still find properties at a reasonable price, with room for appreciation as the neighborhoods develop.
| Neighborhood | Tenant Profile | Property Type | Average Price Per Night | Tips for Investors | Weaknesses |
|---|---|---|---|---|---|
| Northern Quarter | Tourists, Business Travelers | Contemporary Apartments | £80 - £120 (1-bed) | Near Attractions, Unique Features | Property Management |
| Spinningfields | Business Travelers | Luxury Apartments | £100 - £150 (1-bed) | Near Corporate Offices, High-End Amenities | High Costs, Upkeep |
| Chorlton | Families, Older Tourists | Cozy Homes, Apartments | £70 - £100 (2-bed) | Homely Feel, Near Local Attractions | Less Consistent Demand |
Northern Quarter
The Northern Quarter is a prime location for short-term rentals due to its artistic vibe and plethora of bars, restaurants, and independent shops.
This area appeals to tourists and business travelers who prefer a lively urban experience. Short-term renters often seek furnished, contemporary apartments with amenities like Wi-Fi and proximity to public transport.
The average price per night for a one-bedroom apartment in Northern Quarter is around £80 to £120. Investors should look for properties with unique features or close to popular attractions to stand out.
The challenge in Northern Quarter is managing the properties and ensuring they meet the standards expected by short-term renters.
Spinningfields
Spinningfields is another popular area, especially for business travelers, due to its status as Manchester's financial district.
The demand in Spinningfields is for luxury apartments with high-end amenities. A typical one-bedroom apartment in Spinningfields can fetch around £100 to £150 per night.
Properties close to corporate offices or with amenities like gyms and concierge services are particularly attractive.
The high cost of properties and the need for consistent upkeep can be the main drawbacks.
Chorlton
Chorlton attracts a varied crowd, including families and older tourists, looking for a more relaxed atmosphere.
Properties in demand in Chorlton are typically cozy, family-friendly homes or apartments with a local charm. The average nightly rate for a two-bedroom property in Chorlton is around £70 to £100.
Investors should focus on properties that offer a homely feel and are close to local attractions like parks and independent cafes.
However, Chorlton might not have the same consistent demand as more central areas.
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.