Changes in the Manchester Property Market 2017

Changes in the Manchester Property Market 2017

Changes are happening under our noises in the property market. Seems everything is in flux…from the GBP to Brexit and now inflation. These changes can either help you or hurt you. If you are an offshore investor, this could be an amazing life changing opportunity due to the weakness in the GBP. If you are a tenant…you will likely see rents increase due to inflation….tax changes on mortgages and SDLT.

Clearly we are all seeing prices starting to increase. We are getting outbid left and right…Houses that we would buy for 80,000 in Manchester now are in the low 100,000s. So what does this mean…Will they crash back to 70,000 to go to 150,000. Anyone’s guess…but personally feel there is a shortage in Manchester….no price appreciation for almost 10 years…why can’t prices start moving upwards…Expect to see areas such as Manchester to increase as buyers and renters seek more affordable places to live.

Next change is interest rates….It is hard to believe the party will continue with low interest rates…but anything is possible. If there are higher interest rates….Higher mortgage rates will make it even more expensive to buy a home, as well as increase living expenses in general. More Inflation!!!

Job growth will probably increase… As thousands of new jobs are added in energy, manufacturing, and finance, increased competition for talent could finally boost wages. This will partially offset high housing costs and support more growth in rents and house prices. Still, it will be critical for individuals to position themselves in careers and businesses, which will benefit from emerging technology, as many jobs are replaced by AI.

Bottom line…I am still very bullish on property…Feel buying right…high cash flowing Professional HMOs give investors returns that can not be found in virtually any other investment.