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BTL area hunt in Machester


shefali

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Hi all,

 

I'm on my first BTL property search and although I live in South London, I have my heart set on Manchester/Greater Manchester area considering the current rise and trend. I'm looking for a 2 bed apartment or house in an area with strong fundamentals and growth prospects. My focus will be in having standard lets to tenants with families so I'm not looking for a student let property (although I know it does have a lot of potential there due to the universities). Since, it's my first property and away from home location,  i have decided to keep everything else as bog standard. I would be highly obliged if anyone of you can help/guide me in identifying any potential area/streets or postcodes. I'm looking more from a capital growth than high yield so more of a long term vision. Would appreciate any help.

 

Regards

Shefali

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  • 2 weeks later...

For capital growth, south and west will do best, but prices are highest to begin with. Look at areas like Chorlton, Didsbury, Sale, Urmston, but yields will be very low. Anywhere in Trafford is likely to be good for families, as you get access to the free grammar schools.

There are lots of other nice areas, so depends what your really looking for. As an absolute broad brush, generalisation, going to offend lots of people, any 2 bed house for less than £100k within 5 miles of the city centre will probably not be in the best area and will struggle for capital growth medium term. Not to say it won't, but there are areas that covers that didn't move for 10 years, then doubled/trebled in 5 years and haven't moved again for the last 10. So depends where you think they may be in the cycle.

If you go for Greater Manchester, you really need to pin down your strategy or you'll never find anything. There are lots of towns around Manchester with varying connectivity currently. If the 'northern powerhouse' ever includes any money, they could have great potential, as they're not that far out of the city centre, so compare the distances to London and think what could happen. But generally, you'll find cheaper, smaller properties and more expensive, large family properties. Think of your target market - what do they want near them? 

I live in Manchester, so can provide some more general comment, if it helps, but you probably need to nail things down a bit more.

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  • 1 month later...

Hi folks

 

Sorry to piggy back off this thread, but hoping to pick the brains of some Northern locals. I'm an Aussie-expat based in London, so not very familiar with the areas mentioned below outside my current Googling.

 

I've been researching areas for my next purchase for the last couple of weeks. It usually takes me a few months of due diligence and Rightmoving to build up a picture, so won't be ready till the end of the year or even early next year depending on how the markets goes between now and then. I've picked up a couple of areas that I'm interested but wanted some more local knowledge before contacting the agents.

  • Levenshulme - 'up and coming', close to Mancester city centre, nice market
  • Edgeley - regen in Stockport, decent homes around the reservoir, but impacted by the flight path?

 

Ideally looking for a 2 or 3 bed house (freehold), up to £175k, within a mile of the main stations. Preferably professional or family tenants. 

 

Queries:

  1. Are there any particular streets to aim for or steer clear of in each of these areas? 
  2. Any other areas that you might suggest? 
  3. Are there any other sites that you use for property info for these areas? At the moment I'm reading the Manchester Evening News, Place North West and obviously these forums

 

Thanks in advance!

Personal Blog: https://abcdad.co.uk
Property Spreadsheet and Deal Analyser: https://abcdad.co.uk/property-spreadsheet
Looking to read some Property books? https://abcdad.co.uk/books/property-books
Follow on Instagram: @abc.dad

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14 minutes ago, DerekT said:

Hi folks

 

Sorry to piggy back off this thread, but hoping to pick the brains of some Northern locals. I'm an Aussie-expat based in London, so not very familiar with the areas mentioned below outside my current Googling.

 

I've been researching areas for my next purchase for the last couple of weeks. It usually takes me a few months of due diligence and Rightmoving to build up a picture, so won't be ready till the end of the year or even early next year depending on how the markets goes between now and then. I've picked up a couple of areas that I'm interested but wanted some more local knowledge before contacting the agents.

  • Levenshulme - 'up and coming', close to Mancester city centre, nice market
  • Edgeley - regen in Stockport, decent homes around the reservoir, but impacted by the flight path?

 

Ideally looking for a 2 or 3 bed house (freehold), up to £175k, within a mile of the main stations. Preferably professional or family tenants. 

 

Queries:

  1. Are there any particular streets to aim for or steer clear of in each of these areas? 
  2. Any other areas that you might suggest? 

Thanks in advance!

Levenshulme and the surrounding area have a lot of student lets. It can push the prices up due to the yield, but impact on long term growth, as the residents are being pushed out. Bit of a generalisation, but you should spot it when you look on Rightmove and see lots of rents with a weekly price. I'd avoid those bits and look elsewhere in the area. There are bits that are becoming more desirable as people can't afford the likes of Chorlton and Didsbury and they are very convenient for the city centre.

Edgeley and Shaw Heath about 1/2 mile further on are ok areas, although there's suddenly a lot of HMOs appearing. Both under the flight path, so can be a bit noisy, but residents there will be used to it. 

As well as the train stations, look for the tram stops. Can be hard to spot on the map at times, but pretty good service to central Manchester and will be a premium over the train or buses. 

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Thanks for the feedback Dino. I have been looking at the Metrolink stops as well, like Droylsden and A-u-L, so will keep taking notes on advertised vs. sale prices.

Personal Blog: https://abcdad.co.uk
Property Spreadsheet and Deal Analyser: https://abcdad.co.uk/property-spreadsheet
Looking to read some Property books? https://abcdad.co.uk/books/property-books
Follow on Instagram: @abc.dad

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  • 1 year later...

Hi Shefali,

I think I’m in a similar position and now following your footsteps it seems, any advice on what you’ve found please? And if you’ve secured a purchase, where did you buy please? Any insight would be helpful! 

Many thanks!

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  • 1 month later...

South Manchester is definitely a hot spot!

Areas like Didsbury, Chorlton and Urmston have had strong growth over the years. However, as these areas are already established, they will price many first-time buyers out of the market and mean lower rental yields.

Up-and-coming areas on the city outskirts are the best places to look at.

When looking for potential properties in these areas, you should consider the following:

1.     Ease of access to the city centre for tenants to commute to work - Metrolink is the thing to look for!

2.     Access to parks and green spaces – since lockdown ended more tenants are looking for areas with more access to outdoor recreational spaces

3.     Investment in the local area, it is a great idea to look at local council websites to get an understanding of what money has been pledged for regeneration of the area

4.     A sense of community – tenants want to live in neighbourhoods that feel like home. Look for areas with lots of local, independent businesses – many areas outside of the city have nothing to draw tenants. You need areas that have cool bars, restaurants shops so that tenants have reason to want to live there.

5.     Schools – to attract the family demographic look for an area that has access to good schools.

In my opinion, a real find is Stretford. 3.8 miles from city centre and only 2 stops on the tram! It's starting to get a hipster feel for it with places like Stretford food hall offering craft beers, street food and live music. Trafford council is also pouring loads of money into the area.

If anyone wanted more info on some investment opportunities in Stretford I'd be happy to have a chat :)

 

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  • 5 months later...

Hello All,

Thank you for sharing the insights based on your findings. Best wishes to you for the accomplishment of your goals.

I am also in a similar situation looking for areas with good rental demand and prospects of good capital appreciation. I have recently looked at some options in Hyde which seems to have good connectivity to Central Manchester.  

Can anyone share their views on the mid to long term prospects for Hyde compared to areas like Crewe? Are there any other areas which have still not caught up with the growth of Central Manchester and have strong fundamentals to support the growth in future?

Thanks,

Harmeet

 

 

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22 hours ago, harmeet said:

Hello All,

Thank you for sharing the insights based on your findings. Best wishes to you for the accomplishment of your goals.

I am also in a similar situation looking for areas with good rental demand and prospects of good capital appreciation. I have recently looked at some options in Hyde which seems to have good connectivity to Central Manchester.  

Can anyone share their views on the mid to long term prospects for Hyde compared to areas like Crewe? Are there any other areas which have still not caught up with the growth of Central Manchester and have strong fundamentals to support the growth in future?

Thanks,

Harmeet

 

 

Hi Harmeet

We've actually got a region spotlight on Salford in the next edition of the Property Hub Magazine that you might be interested in.

It covers all the fundamentals in the area (which is directly beside Manchester), and details the reasons why it's a great spot for property investment. If you've not already subscribed to the magazine, you can sign up here; https://propertyhub.net/magazine/

Mark

Mark Rocks
Community Builder and Content Writer

www.propertyhub.net

01_original.png

 

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You're welcome Harmeet.

Crewe is definitely on the cusp of an exciting future. Not least due to it's position at the heart of the HS2 masterplan, as well as the great mix of industries present.

Funnily enough, Crewe was the subject of our location focus in the November/December issue of the magazine as well. We've also written about Crewe as a viable hotspot for 2020, if you want to have a read; https://propertyhub.net/property-investment-hotspots-2020/

Mark

Mark Rocks
Community Builder and Content Writer

www.propertyhub.net

01_original.png

 

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I remotely invest in Crewe from London and haven't had any issues up there in terms of properties or tenants. It was good to read the article about it in the Hub magazine. 

The council created this video of the regen programme currently underway, which includes the HS2 hub and town centre development. Whether or not it actually happens in light of Covid, Brexit and the HS2 costs, we'll have to wait and see. However, it does look promising.

 

Personal Blog: https://abcdad.co.uk
Property Spreadsheet and Deal Analyser: https://abcdad.co.uk/property-spreadsheet
Looking to read some Property books? https://abcdad.co.uk/books/property-books
Follow on Instagram: @abc.dad

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  • 4 weeks later...

Hi guys I am catching on late with this one.

I will be looking to purchase my first BTL and see Crewe as good area to look at/ start with.

can anyone advise on 

1. Good& bad areas in Crewe I am struggling to find this out from online research.

2. Areas with strong rental demand again struggling to find this out from online I am ideally looking at single let’s to rent to young Family’s or working couples.

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Hi @lukel

I think you'd benefit from reading this post from fellow member @grant - he's got experience investing in the area and shared some insight into the best places to keep an eye on; 

Grant has also said he's happy to answer any questions fellow Hubbers might have, so once you've read his post I'd drop him a message with any further points you raise.

Mark

Mark Rocks
Community Builder and Content Writer

www.propertyhub.net

01_original.png

 

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