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Property Sourcing in Manchester


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Hey Property Hub people! 

The Manchester market seems to be really taking off at the moment. I am viewing 100+ properties per month in Manchester through smarterproperty.net (mostly deal sourcing for Hong Kong clients). I am find it's harder and harder to get a viewing, or even get an estate agent to answer the phone. 

Edward Mellor wont even allow a viewing without full proof of funds and ID checks! Obviously Covid is a major reason, but also just becasue there is so much interest that estate agents don't need to try hard to sell. 

What are other people finding? Any investors from Hong Kong on here? Political changes are leading many of you to UK it seems. 

What type of property do Hong Kong buyers want in the UK? All about the yield? Or buy in good growth areas? 

smarterproperty.net

https://www.youtube.com/channel/UCEeA8FHdgDVOvBBRjzlvZTA/

 

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Hi I am from HK and perhaps I can help answer some of your questions though I can’t speak for all people. The reasons behind the crave for properties in Manchester in my personal views: 1) it has gained so much reputation over the years because of the Premier League 2) there is a big population of HK immigrants so it’s a natural choice of settling in 3) all sourcing agents or people are bragging about the potential is in the place (maybe because of the HS2) 4) there is a big supply of new builds most HK people are familiar and more comfortable with 5) HK people are very capable buyers, majority of the properties in Manchester are just half or 1/3 of the values of their properties in HK so the prices are so attractive. 

HK people are so keen on property investment because they have been very successful doing so in HK. You can’t imagine how crazy the property prices are in HK. But among all I think the political state is the most significant driving force for the surging demand for properties in the entire UK. 

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I have a number of HK based clients and we operate just outside of Manchester (about 25 minutes).  Also had the Hong Kong Landlord academy get in touch this month about working with us.

Manchester is just crazy because every man and his dog is piling into it.  The amount of clients that I have who start looking in the so called hot spots and then realise its a waste of time and end up buying better opportunities through ourselves.  Once you educate someone and show them numbers on paper they soon realise that the big cities are not the only places in the UK where someone can make good money through property.

Darren

 

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      BTS -- BTL -- Lettings -- Sourcing

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