Manchester has been ranked as the best UK city for property investors by Gocompare, the price comparison site.
Cities from around the UK were ranked based on their average property prices, rental yields, levels of housing supply and rental price growth. London came in second behind Manchester, followed by Nottingham and Liverpool.
Manchester, with a low average property price of £173,318, has an average Rental Yield of 5.55% and a Rental Price Growth of 5.76%. The number of new housing developments currently sits at 689, while there are more than 322,000 people under the age of 35 living in the city. There are currently 5485 properties available for rent in the city.
‘Northern Powerhouse ‘Capital’
Often referred to as the capital of the Northern Powerhouse, Manchester has the fastest growing UK economy outside of London.
Manchester’s tourism sector is worth £7.9 billion and supports 94,000 jobs, while attracting 119 million visitors per year.