Buy To Let's in the North West
Buy To Let Property Investment In Stockport
Key insights for property investors looking for high yielding investments.
Buy To Let's in the North West
Stockport Buy To Let guide
Key insights for property investors looking for high yielding investments.
As of 2024, Stockport is still considered a promising location for property investments, especially for those seeking buy-to-let opportunities. Stockport is located just south of Manchester and is currently undergoing significant regeneration and development. It is a driving business hub that attracts new companies, which are boosting both the local economy and the demand for housing.
Current ongoing projects include the Stockport Exchange business district and the Red Rock leisure complex, so the area is really undergoing rapid transformation. This regeneration is what helped Stockport become one of the fastest-growing property markets in the UK, with an increase in property prices and rental yields.
In addition to the growth of property values, Stockport is benefiting from great transport links, offering easy access to Manchester and other areas. This area is very popular with young professionals, and it is a great location for landlords who want to invest in rental properties. Whether you have an interest in residential or commercial properties, Stockport offers a lot of opportunities for investors.
Why invest in Stockport?
If you are searching for a suitable area for buy-to-let investments, Stockport is a good choice. It is situated in Greater Manchester and benefits from a strategic position with excellent transport links, such as the M60 motorway and Stockport Train Station. It also offers direct access to Manchester, Birmingham and London. Stockport is close to Manchester Airport, which is yet another attractive aspect.
Stockport is known for a robust and diverse economy, with approximately £6.5 billion, mainly coming from retail, healthcare, professional services, and manufacturing. Currently, there are ongoing regeneration projects, including a £1 billion transformation plan to revitalise the town.
Some other notable developments are the Stockport Exchange, Town Centre West, and the upcoming transport interchange. This will add thousands of new homes, employment opportunities, and public amenities.
Furthermore, Stockport features a blend of modern and historical attractions, such as the Hat Works Museum and Bramall Hall. There are also vibrant leisure facilities and retail, like the Redrock Stockport complex. Since the population keeps growing and the housing market is evolving, Stockport is in a good position for long-term investment returns.
Is Stockport good for Buy To Lets?
After becoming a hotspot for property investors, Stockport is definitely an area to consider for buy-to-let opportunities. It offers a mix of strong rental demand, ongoing regeneration projects, and great transport links. However, there are also some challenges that you might want to consider. So here are some factors to keep in mind.
Strong rental demands
Stockport’s population is growing. The town is close to Manchester and has excellent transport links. Because of this, Stockport is in high demand for housing for young professionals, families, and commuters. The regeneration project is also likely to increase this demand.
Affordable property prices
When compared to Manchester, Stockport has affordable prices. The properties in this town are generally much lower than in central Manchester, so you get value for money while still benefiting from the economic growth of Greater Manchester.
Regeneration and infrastructure development
With the £1 billion regeneration programme, which includes the Stockport Exchange and Town Centre West, you can expect Stockport to enhance property values, which will attract more residents to the area.
Great for commuters
The town offers easy access to Manchester, Birmingham, and London via the West Coast Main Line. It is also close to Manchester Airport. With over 13,000 businesses in diverse industries, there are many steady job offerings that usually attract tenants.
Diverse housing options
Buy-to-let investors in Stockport have a lot of housing options to choose from. There is a mix of Victorian terraces, modern apartments, and suburban family homes. With so many options, there are more tenants interested.
Challenges you might encounter
There is rising competition among landlords due to the increasing interest in this town. The Stockport Council has introduced selective licensing in some areas, which has additional costs and requirements for landlords. Although certain areas in Stockport offer good rental yields, others have lower returns. Not to mention that the cost of living could impact the tenants’ ability to pay rent.
How much do properties cost in Stockport?
Housing prices in Stockport are the key factor for buy-to-let investors. This town is known for having a mix of affordability and strong rental demand, which is why the property market offers a lot of options across many property types. Below is an overview of the average housing prices and trends. The average sold price for properties in Stockport is around £343,000, which shows a slight annual decline of 2.1%.
Different property types and varying averages:
- £417,000 is the average for detached houses
- £304,600 is the average for semi-detached houses
- £216,086 is the average for terraced houses
- £152,834 is the average for flats
The price of newly built properties is usually lower than that of established ones. The new builds average around £292,000, while established properties are valued at approximately £321,000. Stockport’s property market is influenced by the general trends in Greater Manchester, offering a mix of affordability and potential for capital growth. This makes it an excellent choice for buy-to-let investors in Stockport.
If you are planning to invest in the buy-to-let market, this is undoubtedly the right time.
What's the rental demand like in Stockport?
The demand for rental housing in Stockport remains high, similar to most areas of the UK. There are numerous reasons why tenants are interested in rental properties. For instance, Stockport has excellent transport links to Manchester. There are many ongoing regeneration projects and relative affordability compared to nearby areas.
Moreover, Stockport has frequently been highlighted as one of the busiest rental markets in the UK, attracting many interested tenants as soon as properties are listed.
The average rental price in Stockport varies depending on the property size and type. According to data from Home.co.uk, here are the average monthly rents for different property sizes:
- £914 for one-bedroom properties
- £1,256 for two-bedroom homes
- £1,446 for three-bedroom houses
As for larger homes, such as those with four or five-bedroom options, the rent is considerably higher, potentially exceeding £2,000. Rental yields are competitive, typically ranging between 3.2% and 6%, depending on the specific area. Of course, the market could improve, but supply still lags behind pre-pandemic levels. This means that demand outstrips availability.
Stockport has a robust rental market that provides numerous opportunities for buy-to-let investors. However, there are a few upcoming challenges, such as the potential for changes in energy efficiency standards and evolving tax regulations. These could impact landlord strategies.
What are the best BTL areas in Stockport?
When considering investing in BTL properties in Stockport, selecting the right area is crucial. This will also depend on your budget, investment goals, and target tenants. Stockport is a diverse borough offering a range of neighbourhoods suitable for different types of renters, from young professionals to families and others. Here are some of the top areas in Stockport you should consider for BTL investments:
The town centre remains one of the strongest contenders for BTL investors. There is a high demand for rental properties, particularly from young professionals and city workers. There are excellent transport links, it is close to amenities, and it is involved in an ongoing regeneration project.
This area is popular with young workers and families, offering a more suburban lifestyle while still being close to Stockport and Manchester. With many good schools, local shops, and numerous housing options, this area typically attracts higher-quality tenants.
With a good balance of affordability and demand, this is an excellent option for investors searching for budget-friendly housing. The area is connected to Stockport town centre and Manchester.
A mix of terraced houses and newer developments has made Edgeley popular with renters. It is also close to Stockport town centre and has great public transport links.
Known for its green spaces, good schools, and a strong sense of community, this area is usually appealing to older renters or larger families. It provides easy transport to Manchester, making it ideal for commuters as well.
Is Stockport a good place to invest in property?
It goes without saying that Stockport is a promising area for property investment, thanks to its strong rental demand and ongoing regeneration projects. It boasts excellent transport links, affordable property prices compared to other areas, and rising rental yields.
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WHY INVEST WITH US?
Simply put, we’ll get you the best possible deal. Our sister company, The Property Buying Company, have been in the property buying industry for years & we have access to all their stock which is at a price point that is ready for investors to buy and make a great return on.
No middlemen, no stress & no hassle. We make investing in property and growing your portfolio as easy as it possibly can be.
