12 Jan Here’s why buyers are flocking to Manchester

The number of international buyers flocking to Manchester is surging. Of course, it’s not hard to see why. Manchester offers choice, freedom and a great standard of living as well as employment and education opportunities. That’s not all either. Here, we reveal why international buyers are flocking to Manchester in 2023. 

The UK’s currency 

We can’t ignore the fact that the pound has depreciated against many foreign currencies recently. Put simply, international buyers can now get more for their money in the UK. And while London may have traditionally been the go-to choice, Manchester and other northern postcodes offer a bargain in a buyer’s market. 

For example, buyers purchasing a property that costs £1 million in US dollar or Chinese Yuan, at the end of 2022, would actually save up to £66,000. This is a result of the fluctuating UK currency. 

Market conditions

Another reason why lots of international buyers and investors are focusing on Manchester is because of the current condition of the property market. With the cost of living increasing and mortgage rates rising, certain areas are witnessing less demand, which can make it less competitive.

There are also currently a range of foreign national mortgages available to further attract international buyers – whether they want to buy a property for themselves or start their journey as an investor. 

Strong reputation

Despite the current state of the economy, the UK and, indeed, Manchester has long enjoyed a strong reputation for property which is attractive all around the world. As well as an abundance of new property popping up, Manchester’s transport, employment and entertainment opportunities are always being enhanced too. 

It’s no surprise that some of Manchester’s best-loved towns have even been named the happiest places to live. 

How Kaytons can help

Whether you’re an international buyer flocking to Manchester or you’re a local in search of their dream home, our team of property experts would love to help. We’ve been doing exactly that for 15 years and we have great plans for 2023. Simply drop our team a message today or pop into our office on Chapel Street.