Would you invest in Manchester or London property?Make Text Bigger
Quick question – I have raised equity through remortgaging my main residence. I have about £80-100K.
I have the option of buying two or three flats in Manchester apparently 10% lower than market price – they are rented out currently and are getting 7.5-8% yield. My thoughts are that with the £800-million being spent on the airport upgrade and the BBC moving there etc it should be a wise long-term investment………….
I am tempted by the new fast super duper cross-rail that is coming to London in the next 4 yrs or so. I could buy a house for the same money near a station that will soon be upgraded to cross-rail in the east end, It will definitely have a positive knock-on effect with shorter commute times, improved infrastructure etc……
So what would you do? How/where would you invest that money? Anywhere else I’l overlooking?
Much appreciated in advance.
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