Castlefield is basically Manchester city centre and all Metrolink lines pass through its station. It’s six stops from MediaCity UK and three stops from Manchester Piccadilly from where there are onward connections to all parts of the UK. There are also plenty of buses. Many Castlefield residents will, however, be able to walk or cycle to wherever they want to go.
As you’d expect from a city centre location, Castlefield mainly attracts young adults, typically young professionals rather than students. This means that smaller, more affordable, properties can generally be marketed quite easily to singles/couples. Larger properties will be sought after by sharers.
Currently, properties in Castlefield have an average sales price of £305,787. As Castlefield is in Manchester city centre, the vast majority of properties are flats and terraced houses. Flats have an average sales price of £306,531 and terraced houses have an average sales price of £160,000.
Average rental yields in Greater Manchester as a whole are around 5.5%. In Castlefield, however, you’re more likely to be looking at around 4.5%. There are, however, still a couple of reasons why you might want to consider this area.
Firstly, there is constant demand. Castlefield isn’t just right in the city centre, it’s one of Manchester’s most historic and culturally-significant areas. It also has unbeatable access to everything Manchester has to offer. Secondly, there is demand from residential buyers as well as other investors. This means that it is generally very straightforward to exit an investment.
It’s also worth noting that there are still new-build developments in Castlefield. This means that investors could potentially buy off-plan and benefit from both capital gains and higher yields.
In simple terms, Castlefield has easy access to anything anyone could want. This includes green spaces and countryside thanks to the nearby Metrolink and railway stations.
|2||£147,590 (16)||£201,667 (3)||£178,625 (4)||N/A|
|3||£263,022 (2)||£182,500 (1)||£203,500 (2)||N/A|
|2||£952 (244)||£950 (3)||£1,049 (2)||£978 (6)|
|3||£1,173 (26)||£1,101 (2)||£1,101 (1)||N/A|
Property statistics provided by PropertyData.
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