Best Buy to Let Investment Areas in Rochdale & North East Manchester

Buy-to-let houses in Rochdale and northeast Manchester can be a good investment, benefitting from affordable properties, strong growth, and high levels of rental demand. It’s a desirable area, with good road and rail connections boosting its appeal to commuters.

If you are seeking a good investment property, read on as we discuss some of the best buy-to-let areas such as Rochdale, Bury and Oldham.

Buy-to-let investment opportunities in Greater Manchester

Northeast Manchester’s low house prices, rising local property prices and increasing rents could present good investment opportunities. Demand for rental properties is generally high from families and professionals, with direct road, rail and tram connections to Manchester City Centre appealing to commuters.

Alongside local regeneration projects and new build schemes, ambitious projects could fuel interest from incoming workers in the longer term. For example, Greater Manchester’s Atom Valley manufacturing and research hub is expected to bring thousands of jobs to Oldham, Bury and Rochdale.

Is buy-to-let a good investment in northeast Manchester?

The average return on investment on a Manchester buy-to-let property is 6.73% according to Track Capital, ranking in the top 10 cities in the UK for rental yield. The average rental yield in Manchester City Centre is 6.38% according to Houses for Sale to Rent, yet certain Greater Manchester postcodes area can generate higher yields. There’s also room for capital returns in the Rochdale and Oldham areas, with prices rising by up to 9% in the past 3 years in some postcodes.

Best buy-to-let areas in Greater Manchester

Rochdale

Average property price: £220,409

Rochdale is considered one of the best areas for buy-to-let investment in the UK, among the highest-yielding locally with an average rental yield of 6.85%. According to Zoopla analysis, Rochdale reported some of the country’s fastest-rising rents, a 9.3% rise last year. Rochdale house prices are also more affordable, costing £40,000 less than Manchester City Centre averages.

Its historic town centre and local amenities like the Rochdale Pioneer Museum and scenic Hollingworth Lake offer interesting opportunities for leisure and outdoor exploration. Rochdale also appeals to commuters, with Manchester just 12 to 15 minutes away by rail.

Oldham

Average property price: £201,440

Oldham is among the top 10 best areas for buy-to-let property investments according to Simply Business. The average monthly rent in Oldham is around £925 pcm, generating an average rental yield of 5.5%.

House prices are some of the most affordable in Greater Manchester, yet the city centre is just 30 minutes away by tram or car for commuters. University Campus Oldham in the town centre generates demand for student rental properties.

Tameside

Average property price: £220,650

Tameside records some of the highest tenant demand in the country and an average monthly rent of £900. It’s well-situated for access to Manchester City Centre, Stockport and Oldham, with the scenic Peak District and Pennines on the doorstep. Tameside is set to benefit from the new A57 bypass, alongside existing M60 and M67 road links.

There are also new developments in the works at Stalybridge West, Godley Green Garden Village and the former Hartshill Power Station site, alongside Ashton-under-Lyne’s market square upgrade, as reported in the Manchester Evening News.

Bury

Average property price: £249,660

Just over half an hour from Manchester Victoria by tram, with the M66 in easy reach, Bury is an appealing commuter town. Rents in Bury have risen close to £950 pcm on average, according to Zoopla figures, and rental yields can reach 5-5.5%. Average property prices in Bury rose 5% last year, according to Rightmove. As reported in the Bury Times, redevelopments are planned for Prestwich and Bury town centre, with a new school set to open in Radcliffe.

Saddleworth

Average property price: £300,073

Saddleworth’s villages offer independent shops and cafes, and of course picture postcard views of the South Pennine Park and Saddleworth Moor. The local rental market offers period properties on alongside new build developments. The nearby A62 and A670 provide direct routes to Manchester City Centre and Huddersfield. Properties in Saddleworth properties generate a lower average yield of 3.5%, yet monthly rents may be higher on the right properties in this desirable family area.

Are houses or flats a good buy to let investment in Greater Manchester?

Terraced houses make up a sizeable proportion of buy-to-let properties in Greater Manchester, yet you will find a range of property types on the local rental market. Your target tenant demographic and investment goals could inform whether you invest in a detached period property or centrally-located new build flat.

Before making a property investment, research carefully and seek professional advice. If you are considering the best areas for buy-to-let investment around Bamford, Milnrow, Saddleworth or Tameside, a knowledgeable local estate agent can help. Contact Cowell Norford to discuss the ideal investment property for you.

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