Manchester proving a magnet for overseas investors

SDL Auctions North West is reporting a huge surge in interest in investment property from overseas buyers and investors based in the South of England.

Andy Thompson, senior valuer at SDL Auctions North West in Manchester, said: “As many as 50% of the buyers I am currently in discussions with are either from overseas or from the south of England, particularly the South East.

“That means if you are looking to sell a property in Manchester or across the North West there is a good chance your potential buyer could be from ‘out of town’.

“Add to that the fact that overseas buyers are getting around 12% more for their money due to the level of the pound since the EU Referendum vote, and you can see why the North West is looking attractive.”

He said that increasingly buyers were contacting SDL Auctions as they want to deal with a business that has national reach and an understanding of the current UK property market.

“What sellers, on the other hand, are finding is that with 40 auction dates in 2018 and a national presence, choosing to work with a company like SDL Auctions really can open up your sale to the widest possible market.

“Through SDL Auctions North West, sellers are reaching out to a wider audience, and investors from overseas and the South of England are clearly listening and receptive,” he said.

He added that buyers were also attracted to the North West because their money went further.

“The same budget would allow someone to get a lot more for their money than what it would in southern parts of the country.

“What may only get you one property in London, could get you multiple properties here in the North West,” he said.

“For those who chose to invest now it will be interesting to see what happens after the dust of Brexit settles, the pound stabilises and possibly rises, and they potentially see real capital gains and significant return on investment.”