Buy to let remains popular in Manchester

Published: February 01, 2008

Manchester's rental sector is still holding up well, despite the credit crunch, a situation that is likely to fuel demand for buy to let mortgages.

Tom Rogers, a residential investment consultant at real estate agents Savills, claimed that demand for rental property remained strong in the city centre.

He also highlighted the continued building of new residential developments around the city as proof that the supply of property onto the buy to let market was also continuing to flow.

"Obviously, people get a little bit dubious about investing in the market due to the credit crunch, but developments are still being built and we are still doing deals," Mr Rogers said.

"The rentals are always very good in the Manchester city centre; from a buy to let basis people are achieving rents that are paying the mortgage so it's not too bad," he added.

The continuing strength of the buy to let sector across the UK was illustrated by new figures from Paragon revealing an increase in rents, yields and portfolios last year, with the latter in particular offering increased demand for buy to let mortgages.