Located about three miles North of Manchester city centre, Prestwich village is one of Manchester’s most popular commuter suburbs. The absence of a Metrolink station is compensated for by an effective combination of trams and local buses. By tram, the journey takes about 20 minutes.
Prestwich is popular with both families and young professionals. The former appreciate its good schools. Both appreciate the fact that it offers easy access to both Manchester city centre and MediaCity UK in Salford.
Currently, properties in Prestwich have an average sales price of £238,168. Terraced properties are the most affordable with an average sales price of £220,020. Semi-detached properties have an average sales price of £240,472 and detached properties have an average sales price of £416,179.
Rental yields in Greater Manchester overall are around 5.5%. Rental yields in Prestwich can be anything between 3% and 8%. As a rule of thumb, smaller properties for young professional singles, couples and sharers tend to produce higher yields as they’re more affordable to purchase. With larger properties, you may struggle to set the rent high enough to produce a good yield.
That said, even with lower yields, Prestwich still has its benefits as a property-investment destination. The continued high demand means that investors are unlikely to have a problem finding well-qualified tenants. It also makes for a straightforward exit route if investors wish to move on.
Prestwich does have its fair share of supermarkets and other standard local amenities. What it’s known for, however, are the many boutique shops, local eateries and independent pubs in the area. There are no large-scale entertainment venues, but it’s easy to pop into the city centre where there are plenty.
| Date | Capital Growth | Change |
|---|---|---|
| Nov 2020 | £251,815 | 3.8% |
| Nov 2019 | £242,661 | 3.5% |
| Nov 2018 | £234,534 | 5.3% |
| Nov 2017 | £222,638 | 5.5% |
| Nov 2016 | £211,007 | 5.9% |
| Nov 2015 | £199,220 |
| Bedrooms | Rental Yields |
|---|---|
| 0 | N/A |
| 1 | N/A |
| 2 | 5.5% |
| 3 | 4.0% |
| 4 | N/A |
| 5 | N/A |
| Bedrooms | Flats | Terraced | Semi-Detached | Detched |
|---|---|---|---|---|
| 1 | £78,625 (4) | N/A | £79,500 (1) | N/A |
| 2 | £102,874 (4) | £180,718 (39) | £189,879 (17) | £295,000 (3) |
| 3 | £310,000 (1) | £217,084 (41) | £237,456 (129) | £271,589 (14) |
| 4 | N/A | £279,300 (5) | £327,173 (25) | £416,464 (14) |
| 5 | N/A | £335,500 (2) | £382,667 (3) | £668,333 (3) |
| Bedrooms | Flats | Terraced | Semi-Detached | Detched |
|---|---|---|---|---|
| 1 | £568 (11) | N/A | N/A | £654 (3) |
| 2 | £727 (11) | £704 (5) | £798 (4) | £687 (2) |
| 3 | N/A | £876 (7) | £885 (16) | £1,199 (4) |
| 4 | N/A | N/A | N/A | £1,423 (2) |
| 5 | N/A | N/A | £2,002 (1) | £1,599 (1) |
Property statistics provided by PropertyData.
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