Manchester agent Philip James has been monitoring the local market and has witnessed one of the greatest property bounce backs in recent history; the return on the buy-to-let landlord.
In the first quarter of 2011 rental figures have increased by nearly 8% as a flood of landlords return to the northern property market. The mini-boom has been boosted by low interest rates, restricted borrowing and the lack of first-time buyers.
Property is now very affordable in Manchester, but only for those with money behind them or a decent deposit. And for the north of England, that means landlords, both professional and amateur.
Philip James owner Philip Nolan explains:
"Landlords are having a field day in the north of England. In the first quarter of 2011 one of our Manchester branches witnessed two-thirds of its entire rental property stock rise sharply in value without a single property dropping.
"This is a record for Manchester and we expect the trend to continue throughout 2011 and into 2012"
