Manchester is a city with a lot going for it — a rich history, a lively arts scene, and a growing economy. It’s no wonder that it’s become one of the UK’s hottest spots for property investment. The demand for rental properties is strong, thanks to the city’s large population of students and young professionals. But while popular areas offer solid returns, savvy investors are seeking out hidden gems that promise even higher yields and potential for capital appreciation.
Some lesser-known areas around Manchester could offer great returns. So, why is the “Capital of the North” such a smart choice for your next property investment? Let’s dive into the best buy-to-let areas in Greater Manchester, starting with the historic Salford.
Hidden Gems: Top Buy-to-Let Areas in Greater Manchester & Beyond
Salford
The Media Hotspot
Salford has earned its title as a media hotspot due to MediaCityUK, which has become a magnet for professionals in the creative and digital sectors. This influx of high-skilled workers, combined with Salford’s ongoing regeneration, is driving up property values, making it a lucrative area for buy-to-let investors seeking solid rental yields in Greater Manchester.
- Commuting Distance by Car: 15 minutes
- Average Property Price: £231,000
- Average Monthly Rent: £1,061
- Annual Rent Growth: 13.4%
- Average Rental Yield: 9%
Why Invest in Salford?
Salford, just a stone’s throw from Manchester’s vibrant city centre, is emerging as a prime destination for property investors. Its proximity to Manchester means you get all the benefits of city living without the sky-high prices. You’ll find Salford’s blend of urban vibe and quieter residential feel makes it a great middle ground.
Salford’s diverse community is a testament to its appeal. Young professionals, attracted by its affordability and convenience, families seeking a strong sense of community and spacious homes, and students drawn to the nearby University of Salford, all contribute to the area’s dynamic atmosphere.
Salford is well-connected with frequent trains into Manchester and a solid bus network. Plus, with the M60 motorway close by, you’re well-positioned for both daily commutes and weekend adventures.
Rental Market Potential
When it comes to rental yields, Salford is holding its own. Whether you’re looking at cosy one-bedroom apartments or more spacious family homes, you’re likely to find good returns here. The area’s affordability and high demand make it a promising option for investors.
There’s no shortage of tenants in Salford. Students, young professionals, and families are all in the mix, which keeps rental demand high. With the University of Salford drawing in a steady stream of students and the area’s appeal to young workers and families, you’ll find a broad pool of potential tenants.
Looking ahead, Salford’s rental market is set for growth. Salford’s burgeoning media district, MediaCityUK, is driving significant demand for rental properties. Coupled with the ongoing regeneration of the city centre, this is expected to fuel a substantial increase in rental values.
Investment Considerations
In Salford, you’ll find a range of properties that are great for buy-to-let. From sleek modern apartments to charming terraced houses and larger family homes, there’s something for every investor’s taste and strategy.
One of the big draws of Salford is its more affordable property prices compared to central Manchester. This lower entry point means you can get more bang for your buck, while still benefiting from the area’s growing popularity and rental demand.
Salford is on the upswing with a host of regeneration plans and new developments on the horizon. Projects like the overhaul of Salford Central Station and improvements to local transport are set to enhance the area’s appeal. These changes are likely to boost property values and attract even more renters, making now a great time to invest.
Trafford
The Short-Term Let Superstar
Trafford’s close proximity to Manchester city centre, alongside major attractions like the Trafford Centre, gives it a unique appeal for short-term lets. With its high tenant turnover from young professionals, students, and tourists, investors are drawn to Trafford for its consistent short-term rental demand and reliable returns.
- Commuting Distance by Car: 30 minutes
- Average Property Price: £375,000
- Average Monthly Rent: £1,231
- Annual Rent Growth: 12.0%
- Average Rental Yield: 8%
Why Invest in Trafford?
Nestled just south of Manchester’s bustling city centre, Trafford is a popular choice for those seeking a high quality of life without the hefty price tag. Its proximity to Manchester city centre, coupled with its excellent transport links and affordable housing options, has made Trafford a highly sought-after destination for residents and businesses. This makes the area a wise choice for those looking to capitalise on the city’s thriving market.
The area attracts a diverse population, including young professionals seeking a more relaxed lifestyle, families drawn to its excellent schools and parks, and students drawn to the nearby University of Manchester.
Trafford’s excellent transport infrastructure includes the Metrolink tram system and M60 motorway, providing easy access to Manchester city centre and other parts of the region. This accessibility, combined with its convenient location, makes Trafford an ideal place for commuters and those seeking a good work-life balance.
In addition to its strong transport links, Trafford also offers a range of amenities, including shopping centres, restaurants, and beautiful parks. The Trafford Centre, one of Europe’s largest shopping centres, is a popular destination for both residents and visitors.
Rental Market Potential
Trafford’s rental market is strong, with consistent demand for various property types. Rental yields generally align with the national average but can vary depending on the specific location within the borough. Properties located near the Trafford Centre or with good transport links tend to command higher rental prices.
Tenant demand in Trafford remains high, driven by the area’s popularity among young professionals, students, and families. The presence of the Trafford Centre and other amenities creates a strong demand for rental accommodation.
Trafford’s rental market is poised for significant growth. Ongoing development projects and its rising popularity are fueling demand, driving up rental prices. Investors can expect steady property value appreciation, making Trafford a prime choice for those seeking a lucrative rental income and long-term capital gains.
Investment Considerations
The property market in Trafford offers a diverse range of options for buy-to-let investors. Popular choices include modern apartments, terraced houses, and semi-detached homes. The specific property type that suits your investment goals will depend on factors such as your budget, target tenants, and desired rental yield.
While property prices in Trafford are generally lower than those in central Manchester, they have been steadily increasing. The area’s affordability and strong rental market make it a viable investment option for those seeking to enter the property market.
Trafford is undergoing various regeneration projects, which are expected to further enhance the area’s appeal. These initiatives include improvements to public spaces, infrastructure, and transport links. These developments are likely to drive up property values and attract more tenants, making Trafford a promising investment prospect.
Huddersfield
The Curveball
Huddersfield may seem an unconventional choice for Manchester-focused investors, but its direct rail links to both Manchester and Leeds make it an under-the-radar commuter haven. With more affordable property prices than central Manchester, it presents an unexpected yet profitable opportunity for investors willing to look beyond the obvious hotspots.
- Commuting Distance by Car: 1 hour
- Commuting Distance by Train (Transpennine Express): 30 minutes
- Average Property Price: £200,729
- Average Monthly Rent: £750
- Annual Rent Growth: 8.2%
- Average Rental Yield: 7%
Why Invest in Huddersfield?
Nestled in the heart of West Yorkshire, Huddersfield offers a unique blend of historic charm and modern amenities, making it a popular choice for both residents and investors. The town boasts picturesque landscapes and an affordable property market, alongside a thriving cultural scene, with a variety of theatres, museums, and art galleries. Annual events like the Huddersfield Literature Festival and the Huddersfield Contemporary Music Festival further enrich the town’s vibrant cultural life.
Huddersfield has a diverse population, attracting a mix of young professionals, families, and students. The area’s appeal lies in its excellent schools, beautiful parks, and convenient access to Manchester and Leeds. Plus, the University of Huddersfield enhances the area’s desirability.
With excellent transport links via the TransPennine Express, Huddersfield is a commuter-friendly town. Its proximity to Manchester and Leeds makes it an attractive option for professionals working in these cities.
Rental Market Potential
Huddersfield’s rental market is strong, with consistent demand for various property types. Rental yields generally align with the national average but can vary depending on the specific location within the town. Properties located near the university or with good transport links tend to command higher rental prices.
Tenant demand in Huddersfield remains high, driven by the area’s popularity among young professionals, students, and families. The presence of the university and other amenities creates a strong demand for rental accommodation.
Huddersfield’s rental market is expected to continue growing in the coming years. Ongoing development projects and the area’s increasing popularity are likely to drive up rental prices. Investors can anticipate a steady appreciation in property values, making Huddersfield a promising investment destination.
Investment Considerations
The property market in Huddersfield offers a diverse range of options for buy-to-let investors. Popular choices include modern apartments, terraced houses, and semi-detached homes. The specific property type that suits your investment goals will depend on factors such as your budget, target tenants, and desired rental yield.
While property prices in Huddersfield are generally lower than those in larger cities like Leeds and Manchester, they have been steadily increasing. The area’s affordability and strong rental market make it a viable investment option for those seeking to enter the property market.
Huddersfield is undergoing various regeneration projects, which are expected to further enhance the area’s appeal. These initiatives include improvements to public spaces, infrastructure, and transport links. These developments are likely to drive up property values and attract more tenants, making Huddersfield a promising investment prospect.
Maximise Your Buy-to-Let Investment in Greater Manchester
In conclusion, Greater Manchester is an exciting place for property investment, especially if you look beyond the obvious hotspots. Salford is perfect for those who want a mix of city life and affordability, while Trafford offers family-friendly amenities and a great community vibe. Huddersfield, with its picturesque landscapes and cultural scene, presents an attractive option for both residents and investors.
Whether you’re seeking a high-yield buy-to-let or a property with significant growth potential, Alesco has the expertise to guide you towards the perfect investment. Our expert team leverages their deep knowledge of the local market to identify prime locations with strong rental yields and long-term appreciation potential.
Contact us today to learn more about our exclusive buy-to-let opportunities in Greater Manchester and start building your real estate portfolio.
Written by: David Jacobs
I specialise in working with high net worth investors across the globe that are looking to create and expand their existing property portfolio in the UK. I have close relationships with all my clients who trust the expertise and knowledge I have within the property industry. I also liaise with banks, receivers and some of the largest developers in the UK in order to source high yielding properties for my clients and to help ensure their long-term financial security.
