Bury properties are continuing to see increased interest from investors, looking to take advantage of the high rental yields on offer, according to John Pye Property.
Figures from the Land Registry earlier this year suggested that the ‘Manchester property boom’ is spreading to surrounding boroughs, with Bury overtaking the city centre for year-on-year price growth in July.
As a result, property auction specialist John Pye Property has seen a surge in demand for properties in Bury and other Greater Manchester boroughs as investors look for the best return on their money.
Richard Reed, head of property at John Pye Property, said: “Manchester has always been one of the go-to places for property investment, but we’re starting to see interest from buyers spreading outwards.
“We currently have a block of five self-contained flats up for auction this month (18 and 19 December), which offer a fantastic return on investment for a buyer.
“All of the flats are currently occupied, producing an income of £1,800 pcm. Based on the guide price of £150,000, this gives a gross annual yield of 14.40%.”
Located on Walmersley Road, the flats are located in an area of high rental demand.
“Our unique expertise across online auctions means the way we sell property online is a real unique selling point for vendors and is distinctive across the industry,” Richard added.
“The John Pye online property auction has grown significantly since its inception and with monthly online auctions there is constantly new property stock being offered to the market.”
John Pye Property regularly features properties from across the UK including residential, commercial and buy-to-let properties. Its latest monthly online property auction will go live on Monday 18 and Tuesday 19 December.