With UK House prices hitting the roof, many British first time home buyers are looking for every advantage. In Manchester, hard pressed first time buyers struggling to get on the property market are traveling a little further out of the city to find lower priced housing.
One new development under way at Stretford Road at Old Trafford has one bedroom apartments starting at 122,000, compared to a similar unit in the city center by the same developer at 135,000. The developer Pulse will have 42 one bedroom and 108 two bedroom apartments available when completed.
The sales manager for Pulse, Rachel Magenheimer, is excited that so many first time buyers are looking at the property:
“The homes we are building here are perfect for people starting off in the property world not only because of the price but also the location, close to the city but also the main road network – and of course the cricket ground.”
“Parents are considering the apartments as investments for their children going to one of the nearby universities and couples like it because the location is great for commuting.”
“Parents are considering the apartments as investments for their children going to one of the nearby universities and couples like it because the location is great for commuting.”
University Towns have are attracting investors and parents alike a recent investors the tougher legislation concerning Houses in Multiple Occupation HMO saw landlords withdraw from the market. Investors are realizing the demand from student occupation is here to stay and financial pundits predict that HMO property will soon be back in demand.
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