03 Dec Positive Outlook for Manchester Property Market
It has been a busy year for property in 2015 and the forecast is looking even more optimistic for the year ahead. Here at Kaytons, we have been actively working with our clients assisting them with the sale of their properties and have had some fantastic results – such as having agreed sales over the asking price and receiving multiple offers within days of marketing.
The Centre for Economics and Business Research released data that showed the average property prices are expected to be 3.5 per cent higher in 2016, suggesting buying property now would result in a positive financial return.
While the Greater Manchester property market is on the rise, housing prices aren’t increasing at the same pace as those in the south of the country. Housing is still relatively affordable, even in close proximity to the city centre. Residential areas just outside of the city border are undergoing significant redevelopment and the quality of living is rapidly improving. Areas such as Salford, Hulme and Trafford are becoming highly sought after and property values are on the rise.
Research conducted by HSBC has shown that Manchester is one of the best cities in the UK for rental return. Many investors are buying low cost housing in outer Manchester and putting these properties on the rental market. On average, landlords are receiving a 7.89 percent rental yield on their properties – the highest in the country.
At Kaytons we offer a free valuation of your property and a discounted letting fee of just £299 + VAT. In addition, we can also manage your property for just 6% + VAT, removing the hassle of paperwork and management tasks.