Bradford or Manchester: Where to Buy Your Next Investment Property
For many of us familiar with the property market, a buy-to-let investment is an attractive opportunity in todays market. This article takes a look at two bustling UK cities and examines the pros and cons of buying to let in both areas. Bradford Bradford is a vibrant multi cultural city and as such has much to offer its residents to suit all tastes. With Bradford’s roots in textiles, no Bradford inhabitant could resist a visit to Bradford’s Salts mills, where they will not only find history and heritage, but they be able to view modern art including pop art pieces from David Hockney who was born in Bradford, dine in wonderful restaurants and shop locally produced textiles and memorabilia. For an attraction which also appeals to children and adults alike there is the Railway Children’s Tour, taking adults back to locations where the famous film was shot. Bradford has a lot to offer any potential renters, and a house for rent in Braford is a great investment. The overall average price to buy in Bradford is £105,999.00 and the average rental yield in £500.00 per calendar month.
Manchester Manchester is known the world over for its Premier league football team Manchester United. A metropolitan city, it offers diverse attractions for its residents including the Manchester Art Gallery, Fletcher Moss Park & Botanical Gardens and its very own Chinatown. Manchester has lively nightlife, local footballers and soapstars are in abundance. In central Manchester, the shopping is similar to central London, with their own Selfridges and Harvey Nichols alongside other high street favourites. The cosmopolitan city of Manchester has recently seen a 10% increase in house prices meaning now is a great time to purchase a buy to let property in Manchester. If you are considering Manchester city centre, the average house price is
ÂŁ156,056.00 compared to ÂŁ144,788.00 in Manchester in general. When looking at the average rental yield in Manchester, you can expect to get around ÂŁ900.00 per calendar month (the city centre can achieve much higher rental returns). There is a great demand for flats for rent in Manchester as the city attracts young, dynamic city workers. When looking at both cities, they have their own advantages and disadvantages depending on what you are looking for in your investment. Bradford will be a slower build of equity in your property, however you will have to lay out less on your initial investment. Manchester does have higher prices so your initial investment will need to be higher, however the return on your investment is expected to build straight away.
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