Manchester has seen property prices rise astronomically over the last five years. This would suggest that the bubble has burst, and the areas where you can pick up quality investment properties have all but dried up.
That is not the case, and Greater Manchester still has several suburbs and towns where bargains are still to be had. However, these properties are selling fast. We pick out our favourites in the article below.
Sale
The whole Trafford area is a great investment opportunity for short-term lets. The area is filled with young professionals and students. They tend to value its close proximity to the city centre and educational establishments like Salford University and the University of Manchester, along with its excellent public transport links.
Sale is one of the many great spots here, located along the Bridgewater Canal. Lots of investment has brought the centre to life, and with it have come an abundance of bars, restaurants, and independent shops. This has turned it into a cultural hub of sorts.
A terraced home or flat will cost around £310,400, with an average property price coming in at around £375,000. You can expect a rental yield of around 8% if you are looking to buy and let.
Gorton
Gorton is an extremely overlooked area. Gentrification is just starting to creep in, as it attracts young professionals who want access to Stockport and the cosmopolitan area of Levenshulme. It is also extremely close to West Didsbury, which has historically always been a trendy area out of the city centre.
The average property price here is around £185,024. An average rental comes in at 7.80%. However, if you already own a property in Gorton, it is worth noting that prices have risen an astounding 24% over the past five years. If the young professional life is no longer for you and you want to move on, now could be the best time to sell. Much easier than it was five years ago, selling can now be done online with the help of companies like Sold.co.uk. They can buy a property with quick cash offers or even help you sell it if you prefer a more traditional estate agent route. This comes with no hidden fees, and you can sell within your own timeframe.
Wigan
Wigan may be on the outskirts of Greater Manchester, but this is its strength as opposed to its weakness. It allows access to all the major cities and does so with a number of attractive locations. It also has several major companies that operate in the area, such as the food manufacturing company Heinz.
Astley is a village just off the Bridgewater Canal, connected yet surrounded by greenery. Average properties cost around £252,570, making them highly affordable. Other towns include Tyldesley, a market town that hugs the moors, boasting an average house price of £220,819.
The North West is undergoing a regeneration, and property prices will continue to rise. As a seller, now may be the time to benefit from the equity in your home. As a buyer, it offers unparalleled potential for rental yields. There has never been a better time to invest in Greater Manchester.
