Manchester and Liverpool top the list for GCC investors

Presence of renowned universities, family-friendly environments, and the prospects of higher rental returns are among the major factors luring GCC investors to the two North West England cities for property investments. Whilst London is typically the first thought on investors minds. Those who are either looking to build a property portfolio for rental income, or value appreciation are now targeting the regional cities outside of the capital. Property prices in the North-West are seeing double and in some cases triple the growth that properties in London are showing, and crucially the purchase prices are substantially more affordable. As of March 2023, the average house in London was valued at £533,986. Compare this to Manchester which sits at £286,018 and £218,309 in Liverpool.

According to the latest UK Cities House Price Index from Hometrack, London’s house prices dropped 0.5% over the past year while Manchester continued to see solid growth at 4.5%. Property prices have exploded in Manchester over recent years, and this is because the northern city has experienced (and continues to experience) an exceptional transformation. It’s a similar story in Liverpool where house prices have also risen higher than the capital.

Gone are the days when northern cities were considered less favourable than London. The Northern Powerhouse initiative has created an exceptional quality of life, and the property market is benefiting from it all. Government backed investments into transport, education and infrastructure are key to this economic growth. And the new HS2 railway will add an further £6.6 billion to the North West’s Gross Value Added (GVA).