A mere three miles West of Manchester city centre, Salford is well-served by Metrolink and local buses. You can get to Manchester city centre in about 20 minutes. These days, however, there’s a distinct possibility that if you’re living in Salford, you’re also working or studying in Salford.
MediaCityUK is a 200-acre development which is home to numerous companies and organizations including some parts of the BBC and ITV Granada. The University of Salford has over 19,000 students. There are also plenty of other employers in the area.
Currently, properties in Salford have an average sales price of £191,657. Terraced properties are the most affordable with an average sales price of £164,301. Semi-detached properties have an average sales price of £209,509 and detached properties have an average sales price of £382,225.
Rental yields in the Greater Manchester area are around 5.5%. In Salford, 5.5% should be a minimum expectation. Yields of up to 7%, or even a little more, are still perfectly achievable as long as property investors buy with care.
Luxury developments are desirable, but it may be hard to set rents high enough to justify the extra cost. Property investors are likely to do better sticking with more affordable properties. These tend to have more widespread appeal.
Salford has one of the richest sporting histories in the Greater Manchester area, which is saying something. There are still plenty of excellent sports venues, green spaces and easy access to the countryside. This is coupled with a wide range of cafes, bars and pubs, independent retailers, nightlife and cultural attractions.
| Date | Capital Growth | Change |
|---|---|---|
| Nov 2020 | £213,386 | 2.9% |
| Nov 2019 | £207,358 | 2.9% |
| Nov 2018 | £201,418 | 3.5% |
| Nov 2017 | £194,627 | 5.7% |
| Nov 2016 | £184,111 | 7.2% |
| Nov 2015 | £171,683 |
| Bedrooms | Rental Yields |
|---|---|
| 0 | N/A |
| 1 | 5.4% |
| 2 | 4.4% |
| 3 | 3.9% |
| 4 | N/A |
| 5 | N/A |
| Bedrooms | Flats | Terraced | Semi-Detached | Detched |
|---|---|---|---|---|
| 1 | £172,500 (3) | N/A | N/A | N/A |
| 2 | £147,590 (16) | £201,667 (3) | £178,625 (4) | N/A |
| 3 | £263,022 (2) | £182,500 (1) | £203,500 (2) | N/A |
| 4 | N/A | N/A | N/A | N/A |
| 5 | N/A | N/A | N/A | N/A |
| Bedrooms | Flats | Terraced | Semi-Detached | Detched |
|---|---|---|---|---|
| 1 | £796 (151) | N/A | N/A | N/A |
| 2 | £952 (244) | £950 (3) | £1,049 (2) | £978 (6) |
| 3 | £1,173 (26) | £1,101 (2) | £1,101 (1) | N/A |
| 4 | £3,146 (1) | N/A | N/A | N/A |
| 5 | N/A | N/A | N/A | N/A |
If you would like further details about Portfolio8 or any of our property investment opportunities, please contact us using the form below or call us directly.
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