Historically, London has been the hive of buy-to-let investment hype in the UK and has seemingly been investors’ first choice, with previously more than three times the number of buy-to-let mortgages recorded in London than in Manchester.  However, recent changes to Stamp Duty in April 2016 have seen this gap close by more than a half as investors look to increasing rental yields in Manchester offering a seemingly attractive return.

This is backed up by the statistics.  In the first three months of 2017, there were 1,126 recorded buy-to-let mortgaged purchases in London compared with 840 in Manchester.  Commentators note that this trend is likely to continue and some note that Manchester may surpass year-on-year figures of London.

This has been combined with an increase in the number of properties available:  a 2017 Deloitte survey noted that there are currently 6,963 residential units under construction in Central Manchester and Salford; which is more than double the 2,994 constructed in 2007. Given the increase in demand, and paired with Mayor Andy Burnham’s introduction of a regional framework to increase the number of residential properties available in the Greater Manchester region, this surge in construction is likely to continue.

The BBC’s MediaCityUK development in Salford and an increasing student population have been cited as the key factors driving the property market in the region.

Should you require assistance with your purchase of a buy-to-let property or any property-related matter, please contact our Property department on 0161 832 3304.

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Excellent experience start to finish – always very responsive to any queries and the turnaround on the property I was buying was very quick, even in the busy time leading up to stamp duty deadline. Jenny was always very helpful and went above and beyond to close on a short timescale.

Ben Armitage

“Very approachable, practical solutions to problems, but most of all very responsive which I personally think is very important because if you need help, you need it quickly, or at least to know someone is looking at it for you”.

Joanne Rowe, Finance Director, Greater Manchester Chamber

“Always able to contact, very approachable, friendly and professional”

Nives Feely, JAM Recruitment

“I believe I have been able to establish a professional working relationship with everyone I have come into contact. Importantly, I sense the relationships which have been established give me the confidence that I can make contact with Davis Blank Furniss at any time and on any matter. I would also like to express my thanks to the very impressive “gatekeepers” who work in reception, not only for making me very welcome, but also for their professionalism”

Bill Pryke, CEO, Chartered Institution of Civil Engineering Surveyors

“Thank you for your efficient and friendly help throughout this process. We have had it easy but your approach has been part of that”.

Robert Amsbury (Conveyancing Client)

“I would like to take this opportunity to thank you personally for the ongoing support and assistance the firm has offered to our parents over the years. I hope also that we may be able to call on you if necessary in the future.”

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“Jo always provides great service, understands our needs and delivers on her promises. Our needs are relatively simple but the complexity arises out of the volume of work and short time frames, Jo always delivers.”

Peter Fernandez, Corporate Director at Royal Bank of Scotland

“A big thank you to all who dealt with my wife’s claim… We would not hesitate to recommend Davis Blank Furniss to anyone that may be in a situation like we have been…”

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“Before putting my case in Kirsty (Morbey)’s capable hands I’ve met a couple of other solicitors. None of them listen to me as intently as Kirsty and showed me as much empathy and understanding as she did. Simultaneously she was able to look at my case from legal perspective, explain all the options and follow each of our meetings with written summary of the discussed matters (in timely manner). Her advice was invaluable and led me to successfully ending the case matter (hopeful for good). I’m forever grateful for he work and would definitely recommend her to anyone looking for reliable, knowledgeable and committed solicitor”.

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