The Global Liveability Ranking has ranked Manchester 43rd out of 140 cities in its liveability report. This is a leap of 3 places from 2015 and 10 positions higher than London, according to the ranking report produced by the Economist Intelligence Unit.
Both London and Manchester feature in the top tier of liveability with only 1.6% between them as Manchester scores 88.8 out of 100. Here we take a look at why Manchester has a lot to offer potential investors:
Manchester is a thriving city with two major football clubs and top universities, with people looking to relocate to the city all the time. In terms of property, it is a good investment choice for buy to lets as rental prices are some of the highest around with no shortage of potential tenants bidding on available properties. New developments are soon snapped up and resale values are also high despite fluctuations in other areas. Property types in Manchester are also diverse meaning there is typically something to suit every preference.
The University of Manchester is currently ranked 5th in the UK and 33rd in world rankings for 2015/16. There is a student population across the city of almost 100,000, many of which are overseas students so it is not hard to imagine why the demand for rental property is so high.
There is no shortage of things to do in Manchester with events held regularly around the city of all different kinds from music to art and sports. Manchester is also home to a large arena which again attracts people to the City.
There are thriving business districts including Manchester city centre, Media City in Salford and in South Manchester. Manchester’s business districts continue to grow as more businesses are attracted to the city with a desire to set up a Northern base.
Manchester boasts great transport links both from outside the city and within. There is a tram network which is the biggest in the UK and the city is highly accessible with train and bus links from neighbouring counties. With road links also being some of the best outside London, it is a city that can be considered very accessible. The city also has good train links to London and Manchester Airport has continued to open new flight paths, including direct routes to China and America.
As described above there are many reasons for Manchester to have maintained its liveability score in the EIU report. From a property investors point of view, rental demand is high and whilst values have continued to remain affordable, attractive investment yields are available, with the added prospect of potential increases in rental and capital values in the future.