A report in The Guardian earlier this month that house prices in Manchester have risen by more than 21% in the past 12 months appears to have ignited interest from potential investors, with the Mistoria Group reporting a 100% increase in calls from clients seeking to invest in the property boom. The Manchester based property investment company has seen a sharp uptake of HMO (House of Multiple Occupancy) properties in the Manchester and Salford areas’, with the vast majority of enquiries deriving from the Capital.
“The level of interest currently being demonstrated in the Manchester property market has rocketed since the New Year and most of these potential investors are London based,” said Mistoria Group’s senior estate agent, Mike Quinn. “London property prices remain high and with the volume of rejuvenation and infrastructure taking place in Manchester, there’s never been a better time to invest, particularly in the high yielding student accommodation sector, which in our experience, provides an excellent return. Manchester is also home to 90,000 students, the biggest student population in Europe, with property demand now exceeding supply.”
The Mistoria Group, deemed one of the North West’s premier property investment businesses, specialises in the development of high yield student and professional accommodation portfolio’s and reported a 98% occupancy rate on its student accommodation at the end of 2013, a factor that has contributed to the company’s substantial growth and development, particularly over the past year. The firm plans to manage more than 1000 properties by 2015 and will be expanding operations into the University cities of Stoke, Hull and Lancaster throughout 2014.