The 2023 buy-to-let market offers many benefits to first time buyers.
The Bank of England raised the base interest rate 14 times in a row to curb inflation. This sent mortgage rates sky high.
However, if you are a cash buyer or able to secure a low loan-to-value mortgage with a large deposit, the market is primed for new investment.
Property prices are falling and price growth is slowing. This means investors can purchase properties for less capital.
The market won’t stay this way forever. Eventually, house prices will rise to previous levels. In fact, history shows that those prices will continue to go up after this recent dip.
Of course, investors need to perform due diligence and perform throughout market research. This could involve calculating rental yields for specific districts in top-performing cities. Or perhaps reading reviews for property investment companies.
Within this article, we will dive into two of the best cities for buy-to-let investment in 2023 – Liverpool and Manchester.
We will cover why the North West is so good for investment and cover some of the best property developments available right now.
Read on for more information.
Liverpool and Manchester Property Market Review
A thorough property market review in the North West proves that the area is a hotbed for capital growth and healthy rental yields.
Let’s look at those stats.
Firstly, the Office for National Statistics ranks the North West highly in terms of property values across England. The region had a 2.7% rise in prices between May 2022 and 2023. This figure puts the North West 1% higher than the national average.
Those same statistics put the North West average price at £211,790. This makes the area very attractive to investors looking for high-yielding properties.
Goodlord puts the average rent in the area at £887.73. This means the average rental yield is roughly 5.03%. However, if we review Liverpool and Manchester property statistics, you’ll see the average yield is much higher in those locations.
Liverpool Property Market at a Glance
- Liverpool is one of the most sought-after areas in the UK, particular among students and young professionals. The population is rising steadily, which is leading to demand for good properties and amenities.
- Liverpool rental yields surpass 7.70%, making it one of the best places for investment in the UK.
- Average property price in Liverpool is £177,628, more than £100,000 cheaper than average UK price.
Manchester Property Market at a Glance
- Manchester offers an incredible university scene, business opportunities and plenty of arts and cultural events. This makes it a top choice for young professionals and students looking for city living.
- House prices are expected to grow by a considerable 18.8% by 2026. As such, investors can look forward to impressive capital growth.
- The area’s property prices are low compared to the national average, while high rental costs mean investors can enjoy substantial yields. House Price Index and Home.co.uk stats suggest the average Manchester yield is 9.12%.
- The Manchester economy is worth over £62 billion, making it one of the strong economies in the UK.
How to Choose a Property Investment Company: Reviews, Reputation and More
If you are interested in buy-to-let investments in Liverpool and Manchester, there are numerous avenues you can take.
- Residential Buy-to-Let
- Student Buy-to-Let
- Off-Plan Buy-to-Let
- Holiday Lets
- Commercial Property Investment
Regardless of your investment strategy, the best way to invest in property is by finding a reputable property investment company.
A good property investment company will be able to offer stunning units in attractive areas. They will work with the most reliable developers and demonstrate a good track record for success.
But how do you know this?
Read property investment reviews. Positive word-of-mouth is the most trustworthy form of good press.
For instance, if you are looking to invest in Liverpool, you’ll want a company with a good track record in the area.
RW-Invest Reviews: A Quick Case Study
A quick Google search shows that RWinvest is a dominant player in the local market.
We reviewed the following consumer and business reviews to gain more insights:
- ProvenExpert.com – RWinvest reviews
- AllAgents RW-Invest Review
- RWinvest Website Reviews
- Yell.com RWinvest reviews
- Cylex-UK.co.uk – RWinvest reviews
- RWinvest reviews on Manchestercompany.co.uk
Who Is RWinvest?
RWinvest is the UK’s number one property investment company. They offer residential buy-to-let properties in cities such as Liverpool, Manchester and further afield.
RWinvest.com – Reviews: What Do They Say?
RWinvest Trustpilot reviews give the best indicator of the company’s reliability. Trustpilot boasts decades of experience and is one of the most legitimate review websites available. Currently, RWinvest has 1,657 reviews. 83% of reviewers gave RWinvest five stars.
If you check out Yelp reviews for RWinvest or other review sites, you’ll also find positive feedback and detailed accounts from investors who have worked with the company.
However, you should also consider the company’s legitimacy amongst its employees. In our experience, trustworthy companies will garner favourable reviews from employees. Meanwhile, toxic companies are often slated for malpractice.
RW-Invest Indeed reviews show that the company has a five-star score from current and former employers.
Reviewing the Top Property Developments in Liverpool
RWinvest reviews prove that the property development industry in Liverpool continues to attract investors into the area.
The Gateway is Liverpool’s answer to New York City living. The development includes four skyscrapers named after different New York boroughs.
Investment will come with assured 6% NET rental returns. Properties can be secured for a 15% deposit. Meanwhile, the cheapest prices start at £168,950.
The Gateway boasts plenty of stunning facilities. These include a wellness spa, gym, pool, coffee shop and more.
The development is situated in Liverpool’s Northern Quarter, which is in the midst of a huge regeneration plan. This will bring business and capital growth to the area over the next few years.
Reviewing the Top Property Developments in Manchester
While many consumer reviews for RW-invest.com show that investors are choosing Liverpool over Manchester for property investment, the Manchester property market still has some amazing upcoming developments that appeal to landlords and tenants.
Merchant’s Wharf is a residential development that offers one, two and three-bed units. The complex also boasts commercial units, luxury facilities and state-of-the-art designs in each apartment.
The scheme includes two nine-storey apartment blocks with stunning views of the city.
Merchant’s Wharf is conveniently located between Deansgate and MediaCityUK, capturing the advantages of both city centre hotspots.
Deposits for Merchant’s Wharf start at £69K. Your investment will also bring in a projected 6.5% NET rental return.
Reviewing Property Developments in Liverpool and Manchester: Final Thoughts
In conclusion, the 2023 property market in Liverpool and Manchester presents a compelling opportunity for investors. With the Bank of England’s interest rate hikes driving mortgage rates up, cash buyers and those securing low loan-to-value mortgages with substantial deposits are poised to make smart investments.
Property prices are currently on a decline, offering investors a chance to acquire assets at a lower capital cost. Historical trends suggest that these prices will rebound and continue to rise. Liverpool and Manchester, in particular, stand out with their impressive rental yields, making them top choices for buy-to-let investments.
When considering such investments, it’s crucial to research thoroughly and choose a reputable property investment company, as demonstrated by positive reviews for RWinvest. Additionally, top property developments like The Gateway in Liverpool and Merchant’s Wharf in Manchester offer attractive prospects for investors.
In these cities, the blend of economic growth, rising populations, and flourishing property markets offer promise for those seeking to enter the world of property investment.