Although the term ‘yuppie’ might not be heard so often these days, the young professional property market is still a lucrative one – and Manchester property accountants can help landlords with rental homes in desirable parts of the city to maximise their profits.
Research from Lloyds Bank reveals that, nationwide, the most desirable locations for young professionals are in London and the south-east, which is also where the most lucrative jobs are to be found.
But step away from the capital, and the leading location anywhere else in the country is Didsbury in South Manchester, making this a Holy Grail of sorts for landlords.
If you own property in Didsbury, it is likely to be worth as much as 55% more than if the same home were located elsewhere in the country.
Marc Page, mortgages director at Lloyds Bank, explains that the desire to live in a certain location comes with a cost for yuppies.
“In the majority of cases, young buyers have to pay a significant premium for a property to live in these areas compared with living in other parts of the city,” he says.
For those who cannot afford to buy, renting is an alternative – and Manchester property accountants can help local landlords to tap into this potentially very profitable market.