July 26, 2010
Property Investment In Manchester Booms
The number of tenants looking for rental property in Manchester City Centre property investment with a local letting agent reached an all time high this month, providing further evidence that the Manchester property market is returning to full swing.
The number of tenants registered with Thornley Groves Estate Agents has increased 117 percent since the start of the year, propelling demand for rented property in the city centre to an all time high.
A statement from the company said: “The number of people looking for rented accommodation in the city centre traditionally increases in July, driven in large part by the influx of university students into the area ahead of the new academic year.
“Significantly however, numbers are up more than 50 percent on July 2009, having reached their highest peak in recorded history. We really are seeing more people than ever before looking for Manchester lettings.
“This increase will come as welcome news for the Manchester property industry, and represents a superb opportunity for investors looking to enter the buy to let market.
“There remains a shortage of new investment in buy to let stock following the period of illiquidity brought about by the on-set of the world recession in late 2008.
“With such high current interest in the Manchester property market amongst tenants, we believe that the current window offers the perfect opportunity for new investors to enjoy a high return.
