The findings, backed up by the latest Zoopla Rental Market Report, highlight a current market 'sweet spot' of rapidly rising rents and continuing capital growth, fantastic news for landlords.
The data shows that demand remains strong in Manchester, Preston and other UK urban areas, as renters return to city centres once more.
Steve Jacob, CEO, Fabrik Invest, comments: “With cities opening up once more and life returning to something close to normal, renters are once more embracing the convenience of the urban lifestyle. The exodus to the country that we saw when the pandemic began is now contrasted by a surge in demand from renters for city centre homes.”
This is excellent news for investors in locations such as Manchester, where rents rose by 1.4% during the last three months. The city is home to a number of exciting new developments, with one of the most notable being Michigan Towers, at Salford Quays. In the midst of the £1 billion MediaCityUK expansion, the homes will provide a superb standard of waterfront living in easy reach of the best that the city has to offer. The 375 apartments are complemented by an on-site gym and cinema.
Dale Anderson, Managing Director, Fabrik Invest, concludes: “Not only are rents shooting up in Manchester, but so too are prices, with an increase of 7.4% in the year to June 2021. This is the ideal combination of circumstances for investors looking to enjoy a healthy regular income as well as solid capital growth potential.”
