Houses in Manchester are among the best to invest in for buy-to-let landlords, experts have said.
According to the latest Hometrack UK Cities House Price Index Manchester is top of the table when it comes to returns.
Landlords will want to pay attention to the profit that can be made in the northern city.
The area has the highest growth of any, at nearly eight per cent.
Jonathan Stephens, MD of Surrenden Invest, said: “Manchester has once more shown that it is one of the top investment destinations in the UK for buy-to-let properties.
“Investors enjoy the highest house price growth of any area of the UK, at 7.6 per cent according to the June 2018 Hometrack UK Cities House Price Index.”
What is more, the expert claims that there is a strong marked in the area.
Properties in the area are discounted the least out of any country.
“The city also boasts the lowest level of price discounting in the country, which emphasises the strength and solidity of its property market.”
The house market in the south has collapsed, with prices dipping currently.
“While the London market wobbles along somewhat unsteadily, many of our investors are putting their money into Manchester instead, marking this city out as a serious contender for the best residential property investment hotspot in the UK,” Jonathan said.
The high number of students makes Manchester a hot spot for property.
It is home to the University of Manchester, Manchester Metropolitan University, the Royal Northern College of Music and Arden School of Theatre to name a few.
Along with Manchester, Liverpool has been pointed to as a good place to invest in property.
Totally Money said: “Our research shows university cities have some of the highest rental yields, with Liverpool, Manchester, Middlesbrough, Newcastle upon Tyne, and Edinburgh shown to be top performers.”
“Due to new students arriving in these cities year after year, there’s no shortage of tenants for landlords to choose from, making void periods very unlikely.”
Tottenham Hale is currently undergoing a renovation, which makes it a great area to buy, experts have said.
Its below average for London house prices coupled with the area’s current regeneration means Tottenham has been dubbed one of the best areas in the UK to invest.
“Tottenham is definitely one to watch,” said Mark Stephen, Founder and Managing Director of Reditum Capital.
A one-bedroom apartment will cost you around £300,000.