A growing number of investors are now looking beyond London and the south east for property investment opportunities, with Manchester attracting much investor attention, according to the residential investment team at Jones Land LaSalle (JLL).
As activity in the residential investment market has increased rapidly over the last 18 months, and with the influx of overseas operators and new entrants into this market JLL report that there is a limited pool of available housing stock, particularly in London and the south east. As a result, more buyers are seeking opportunities in the major metropolitan areas and with its increasing population of young urbanites, strong employment growth and a vibrant cultural and sporting scene, Manchester is well placed to capitalise on this new demand.
Tom Henry, residential director at Jones Lang LaSalle, said: "The recent influx of capital into the residential investment market has been significant with international funds, housing associations and increasingly domestic institutions seeking to increase their exposure to the sector. Given that Manchester offers a combination of strong rental returns and huge potential for capital growth, we anticipate strong demand for this asset."
JLL was recently instructed to sell a selection of new homes in Manchester at a development called Skyline Central 2, located located on the fringe of Manchester's northern quarter.
The building which comprises 129 high specification apartments in a 19 storey tower is arguably one of the most desirable rental blocks in the city offering tenants unrivalled facilities including a resident's gym, health suite, 18th floor sky pool and 24 hour concierge.