Partington – hotspot for investors?
Investors pinpoint Partington as next hotspot
Written by: Richard Antrobus Category: Landlords April 8, 2020
Smart investors are always on the lookout for a developing area. When several property investors come to the same conclusion, there is typically a reason why.
Currently there are many reasons why Partington has in recent months become a hotspot for buy to let investors. Partington is located in Trafford, with significant investment planned for the area, the M31 postcode may be the next location to benefit from a significant increase in property prices. With strong monthly rental prices and attractive property values, this is the main reason investors are keen to get involved.
Greater Manchester appeals to many investors
It has been no secret that Greater Manchester has been in significant demand in recent years. Some key reasons to consider investing in Greater Manchester include:
- A population of 2.5 million and this is rising 1.3 million people in employment
- The area boasts of the largest student population in Europe; 100,000 across four Universities
- Greater Manchester has more people aged between 25 and 29 than any other part of the UK
- Over 2,000 foreign-owned firms operating in Greater Manchester
- lower operating costs than London
With headline figures like these, it is easy to see why investors want to be based in Greater Manchester. The Trafford borough has always been a popular choice for property investors
While each borough has something to offer, the following factors help to make Trafford an area worth considering:
- Trafford is rated as joint-best education authority for secondary education by Ofsted
- Adults in Trafford are educated to a degree or equivalent standard
- Trafford is regarded as one of the best-connected locations in the country for broadband and digital connectivity
- Conveniently located to the heart of Manchester and home to a thriving business community and manufacturers
Partington is on the up with scope for further growth
Having provided reasons why Greater Manchester and Trafford are hotspots for investors, there are reasons why Partington is an excellent option for property developers and investors. With so many locations in Greater Manchester to consider, Partington has several factors in its favour:
- Many parts of Greater Manchester have already been tapped out by developers and investors, offering no further value
- Infrastructure improvements in recent years have made the area more attractive
- Proposed developments for years to come increase the attractiveness of Partington
- Partington is an affordable option compared to some parts of Greater Manchester
According to leading property website – Rightmove, the average price of a property in Partington in the last year is £153,232. In Greater Manchester, the average cost of a property at the same time is £202,530; and for Manchester, the figure is £205,828.
Partington, therefore, provides a more affordable average property price, although prices have been on the rise in recent years. The average sales price of £153,232 was an increase of 2% on 2018 figures and an 18% rise on 2017 data. This increase signifies the elevated demand for properties in the area, again indicative of the up-and-coming nature of the region. With Partington recognised as a Priority Regeneration Area in the Trafford Core Strategy, a range of developments are being delivered to this area.
If you would like more information or guidance on development in Partington, contact VitalSpace today.
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