An insightful report recently analysed the best-performing cities for property investment and named Manchester as one of the top spots.
Mancunian property is experiencing an ongoing surge in investment from overseas and domestic investors alike, the MEN reported confirmed.
According to the report, Manchester is currently the strongest UK property market outside of London. On top of that, the city offers the highest rental yields in the Uk at up to 6.02%.
Germany’s investors & Manchester’s property: An unusual friendship
The Northern Powerhouse initiative has already had opportunity to reap its own rewards by creating 8,000 new jobs over the last four years and a commitment to create another 850,000 by 2050.
It is now down ti Andrew Percy, the newly appointed Northern Powerhouse minister, to build on these results over the next few months and continue to win more investment and infrastructure in Manchester and other cities.
The Government also proved its commitment to the Northern powers by choosing Manchester as the location for national and worldwide events such as the Government-backed £24 million bid to host the cycling world championships in Manchester.
One thing is clear, despite any initial apprehension after the Brexit vote and George Osborne’s farewell, the UK and especially the Northern Powerhouse still present a safe haven for overseas property investors. Even more so now with the weakened sterling and interest rate cuts.
