Affordable Property
One of the most important considerations when searching for the best buy-to-let location is whether or not the area has affordable property. This means that the initial financial burden of the investment will be lighter, and the investor will start seeing returns quicker.
Oldham’s average property price is lower than the UK average, making it an attractive prospect for buy-to-let investors.
Areas with cheaper property will often have higher rental yields; however, there are other regions with much higher rental yields than Oldham that are worth exploring as options.
Regeneration
Regeneration is a key indicator of future demand for an area and capital growth, so it’s worth taking notice of planned schemes for towns and cities of interest. Oldham has several regeneration projects in the pipeline, with many concentrating on Oldham’s town centre. The ‘Creating a Better Place’ project aims to create more than 2000 new homes, 1000 new jobs, and 100 apprenticeships in the town centre – unlocking an investment of £285 million and making this popular for property investors.
Location and Transport Links
Residents of Oldham benefit from proximity to central Manchester and excellent transport links. There are two nearby train stations, Mills Hill and Moston, with frequent trains to Manchester Victoria and good connections to other cities such as Liverpool and Leeds. Oldham is also part of Manchester’s tram network and is well-served by the bus network.
The area is also well located for the A62 and M60 and boasts easy connections to Manchester Airport.
Convenient towns like Oldham are bound to enjoy popularity with commuters, adding to rental demand and making it one of the best areas to buy in Manchester.
