Rusholme and surrounding neighbourhoods could be the best area for buy-to-let investment in Manchester.
This is according to a new survey by Simply Business, which found that almost a third of landlords voted M14 as the best postcode for buy-to-let.
M14 is the favourite among Manchester landlords by a good 10 per cent. The other postcodes which showed high rental yields for 2017 were M5, M6, and M38, but only 18, 19, and seven per cent of landlords were interested in each area respectively.
Interestingly, 27 per cent of landlords indicated they wouldn’t invest of any of the areas with the highest rental yields. It’s unclear whether this is because they considered these postcodes to have bad investment potential or because they just aren’t looking to invest this year.
If you are looking to invest in Manchester this year, here’s what to consider when looking at properties in the M14 postcode.
As well as Rusholme, M14 covers Fallowfield, Moss Side, Ladybarn, and Victoria Park. Of the five, Moss Side is closest to the city centre and Fallowfield the farthest, but M14 is a fairly small postcode so there is only a mile difference.
Ladybarn, though sometimes counted as part of Fallowfield, was originally a village outside of Manchester and still has some cobbled streets and 18th century buildings. It’s worth keeping in mind if you’re looking to invest in a character property.
Some investors might shy away from Moss Side because of the area’s historic association with riots and gang violence, but it has received considerable investment since the 1990s and now offers rental yields of up to eight per cent.
The whole of the M14 postcode is popular with students, as the main University of Manchester campus isn’t far away - they make up approximately 30% of the population.
Check out our full guide to the best buy-to-let areas in Manchester.
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