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Why invest in the Stockport property market?
In property terms, Stockport is a town in Greater Manchester that deserves a place in the list of top places for investment. The demand for property is high with rental yields increasing year upon year, making Stockport a fast-growing hub of investment opportunities. Due to the popularity of Manchester’s city centre and the prospect of city living that many residents favour, Stockport can often be forgotten. However, the ongoing, large-scale regeneration plans have sought to transform, expand and enhance Town Centre West (also known as the Mayoral Development Cooperation), offering a plethora of opportunities for developers, investors and buyers.
Stockport council revealed that 1,000 new homes would be built to accommodate a rise in demand for tenants and buyers. It is expected that at least 250 homes will be delivered annually for the next 6 years, with exciting developments scheduled up until 2026. In conjunction with residential development plans, the recent completion of one million square feet of additional office space has enabled more and more businesses to migrate to Stockport. With such a huge amount of regeneration and development, the career prospects are expected to increase massively, with a high influx of jobs anticipated. The resounding recognition for Stockport’s transformation as regards business, economy and regeneration is well deserved. With this understated North West town now widely considered a property development hotspot, now is an extremely advantageous time to expand your portfolio with the lucrative industrial, commercial and residential property investment opportunities it offers. The prosperous property market in this area continues to grow in direct correlation with the wide range of thriving businesses choosing to base themselves here.
Property investments in Stockport
Key points that continue to draw investors and developers to Stockport include:
- Buyer interest has increased by 25% since March 2021
- House prices to rise by 28.8% over the next 5 years
- Rental yields reaching up to 6% with potential to increase
- Named the fastest growing economy in the North West
- Reputable businesses continue to relocate to the modern office space developments
Fantastic transport links and close proximity to Manchester city centre
As a Greater Manchester town positioned just 6.5 miles away from the centre of Manchester, the fantastic transport links in Stockport provide frequent, quick and easy access to the city. This is particularly useful for students studying at one of the five world-renowned universities in Greater Manchester, where those wishing to live outside of central student districts can still commute quickly. With its conveniently placed position, many young professionals and families find Stockport a brilliant place to call home. Stockport is a prime location for travel to many other favourite destinations, with trains from Stockport to London Euston operating regularly on a daily basis.
Another example, Stockport’s location enables those that work and regularly visit the city of Manchester to effectively commute back and forth between the two areas. What’s more, incorporated in redevelopment programmes approved by the council, Stockport’s current bus station is looking to be remodelled in an effort to even more efficiently connect the two hotspots via a new Transport Interchange.. This excellent location enables those that work and regularly visit the city of Manchester to effectively commute between the two areas. As well as this, Stockport is highly convenient for air travel, being based just 5 miles from Manchester Airport.