Where are the best places to achieve a high yield in Greater Manchester?
I know the town very well and I sourced several properties here. After an extensive research I shortlisted some areas where I always look into for investment.
Let me share them with you!
M14 – Covering Rusholme and Fallowfield. If you are lucky enough to own a HMO in this area you can capitalise on the student market and achieve yields in excess of 10% gross.
OL10 – Covering parts of Oldham to the North East of the city. In Heywood, you can secure a 3-bedroom terrace for £102K, which will rent for £675 pcm. 8% Gross.
M5 / M6 – The areas of Salford that adjoin Manchester City Centre and Salford Quays. Due to superb transport links close access to the areas mentioned, rental demand is very high here and prices remain fairly low, although they are increasing fast. 7% gross readily achievable.
BL9 – Bury East, the cheaper side of Bury has a very strong rental demand and low house prices, meaning gross of around 7% is easily achieved.
M11 / M18 – to the East of the city centre covering Openshaw, Debdale and Gorton. Large stocks Victoria terrace properties, 3 beds around £140K will rent for £750 pcm. 6.4% Gross.
M24 – To the North East of City, in Middleton a new build costing £150K will rent in the region of £800pcm. 6.4% Gross
M23 – Due to the airport expansion and fantastic transport links, Wythenshawe is fast outgrowing it’s ‘rough end of town’ reputation. £160K ex council houses renting for £800 pcm. 6% gross easily achieved.
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