New research has found that Manchester is the most likely city to see a property price boom in the next 10 years.

The study by online estate agent HouseSimple forecast ten locations in the UK where property prices were likely to increase substantially, with London failing to make the list.

The Top Ten Hot Spots
1.    Manchester
2.    Rotherham
3.    Harborne, Birmingham
4.    Leicester
5.    Hythe, Kent
6.    Norwich
7.    Hove
8.    Ipswich
9.    Ilkley, Bradford
10.    Woking, Surrey

Peter Armistead of Armistead Property said it wasn’t a surprise that Manchester had come out on top considering the amount of redevelopment the city has seen.

“Manchester has been voted, for a second year running, the best place in the UK to live.  It has an amazingly vibrant restaurant, bar, club and music scene, not to mention its galleries and museums,” said Peter.

“We have an amazing student scene and our universities and teaching/research facilities are truly world class. 

“Manchester is home to nearly 100,000 students, making it one of the largest student cities in Europe.  Oh, and let’s not forget the amazing sporting scene here and the famously warm and friendly people.”

Peter also believes that Manchester is very affordable with many students choosing to carry on living there after graduating, because wages relative to property costs are very attractive.

“An average residential property in Manchester is just £155,000, while a flat in a good area, costs as little as £120,000,” added Peter.

“It’s not surprising that many investors, especially from the South, are targeting Manchester as a great place to invest.” 
Peter said a property in Manchester could provide a 5% minimum cash rental yield and a typical 12% total cash yield, including 7% capital appreciation.

 “Manchester is a great place for investors,” added Peter.

“I have built a successful, mid-sized portfolio of buy-to-let properties in South Manchester. Over the last 12 months I have enjoyed average rental yields of 6% across my 80 properties.”