Here at Home EA, when we hear anything about the Manchester area, our interest peaks and some recent property research caught our attention. A study found that Manchester and Greater Manchester is one of the top places to live for millennials. A ‘millennial’ being anyone born between the 1980s mid-1990s. Manchester is becoming more and more attractive as a property option for younger buyers and a savvy investment option for landlords looking to rent to young professionals.
We’re not surprised as our properties in the popular residential areas of Hyde, Stalybridge and Ashton-under-Lyne are increasingly popular with younger buyers, because of the area and the proximity to Manchester city centre.
So, what factors can you highlight when you’re selling that will make your property attractive to young professionals who are looking to settle in the Manchester area and investors looking for a sound asset?
Dynamic Jobs Market
Manchester has a strong economy, with a fledging design, creative and technology scene which has been spurred on by MediaCityUK in Salford which is the BBC’S northern HQ. New tech jobs are more appealing to a younger demographic who have the necessary skills and qualifications for the modern job market.
The strong economy obviously has a knock on effect on the housing market, which will see new workers moving into the area from other parts of the North and further afield.
Having attractive housing options for younger people makes sense for investors and people looking to sell to young professionals. Decorating and designing properties with younger buyers in mind is a good start.
Strong University Presence
Manchester and Greater Manchester are lucky to have a range of quality higher-education institutions in the area, so the city can benefit from lots of new talent. Combined with the range of graduate level jobs, this means that Manchester is rich ground for graduates who stay on in the city after they graduate, instead of returning to their hometowns.
As well as selling to graduates who stay on and work as young professionals in the city, universities opens up a range of options around student housing for investors too. Student accommodation, house shares and high-quality rental properties for young professionals are all sound investments for areas with a high turnover of young people.
Great Transport Links
There are fantastic transport links that connect the city centre to Greater Manchester areas, with strong rail, tram and bus links. This is really important for young professionals who want to be close to work and can easily get home if they stay in the city centre and socialise afterwards.
This is one of the key pull-factors that people are interested in when looking at a property. If you can demonstrate the strong transport connections when you’re a bit further out of the city centre then it becomes a more attractive option to live in the surrounding areas for a better price.
Manchester is renowned for its music, culture and art scene and it has great nightlife to offer to young professionals and students in the city. Having strong job prospects is all very well but if there’s nothing to entice young professionals to spend their money and stay in the city after hours then a city can become boring and the work-life balance suffers.
It’s good for the economy and wellbeing of young professionals and students if they can let their hair down – thankfully there are lots of places to do this in Manchester and beyond. When you can point to a range of interesting and eclectic things for people to do in their spare time, it helps to sell an area to a renter or buyer.
For more advice, give us a call on 0161 367 1221.