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A typical home appreciates more than its owner earns – Why work?

According to Savills, an average home appreciated more in 2021 than its owner will have earned. The online magazine Estate Agent today reported in February. Savills says that with annual house price growth of 10.8 per cent over the calendar year, the average value of a UK home rose to £274,712. That’s £26,729 higher than at the end of 2020. By contrast, the 2021 Annual Survey of Hours and Earnings shows the average UK worker earned £25,971 that year. The Southwest reported the fastest house price growth last year, with annual growth of 13.6 per cent. That’s enough to bring the average house price there to £314,000, or £37,560 higher than in December 2020. That increase is 58 per cent higher than the average Southwest worker’s earnings, £23,776. Lawrence Bowles, director of research at Savills, says: “It’s unlikely we’ll ever see a repeat of the conditions leading to 2021’s price growth. The combination of mortgage lenders coming back into the market, the impact of lockdown on people’s desire or need to move, and a stamp duty holiday generated a huge swell of demand. “We saw the base rate rise to 0.5 per cent earlier this month and the financial markets expect the Bank of England to raise the base rate further this year. This points to house price growth slowing down over the course of 2022, as reflected in our forecasts of 3.5 per cent for the year. “But with limited stock on the market to buy, an imbalance of supply and demand suggests we’ll see the momentum continue for the first few months of this year. Data from the RICS showed each surveyor had 36.6 homes available for sale in January, the lowest level since the housing market was shut down in May 2020. “High levels of house price growth have eroded affordability, particularly in high-value locations. Savills has forecast that UK house prices will rise 13.1 per cent by the end of 2026. The growth will be fastest where affordability is less stretched, such as in the Northwest and Yorkshire (both 18.8 per cent) and in Wales (18.2 per cent).” Global Investments UK division agree, “we have already seen high growth and a greater demand from our overseas investors who look at the UK and in particular the Northwest of England as a safe place to invest”. Want to find out more about our developments in the Northwest or any of our other buy-to-let investment opportunities? Get in touch today [email protected]. *Source: Estate Agent today – Feb 2022

Liverpool is a Northern Powerhouse for buy-to-let investors

Liverpool might be better known for its musical and maritime heritage than it’s thriving property and buy-to-let opportunities. But 2022 is a year of transformation and opportunity for this Northern city. Named in 2019 as the best location in the UK for buy-to-let yields, Liverpool’s thriving local economy and subsequent growth in rental demand has resulted in a strong performance for the city’s buy-to-let investors. Liverpool is a University city – housing upwards of 70,000 students across a number of key locations. With a permanent population of roughly half a million people, Liverpool is the 5th largest metropolitan area in the UK and part of the much-discussed Northern Powerhouse. The city has historically played a key part in the Northern economy. The River Mersey was a major gateway to the Irish sea, acting as one of the foremost maritime ports when accessing global shipping routes throughout the 18th and 19th century. Today, that maritime past is reflected in the city’s status as a leader in global logistics. The supply chain infrastructure in Liverpool continues to be a major attraction to the global businesses currently operating a base from the city. It is the access to the global economy that is rooted in Liverpool’s thriving start-up scene. The city is widely viewed as a growing hub for tech start-ups as well as a creative force in film and TV production. Liverpool is the base for both Lime Pictures and Hurricane films and employs thousands across its booming creative sector. The financial and professional services sector also have a growing home in the city – attracting thousands of young professionals to the city to take advantage of higher wages and the lower cost of living. A number of major banks and investment firms operate HQ’s from Liverpool as part of the city’s financial district, housing the largest wealth management centre outside of London. A Student City Liverpool has three Universities – The University of Liverpool, Liverpool John Moores University and Liverpool Hope University. As a student city and a popular place to study and live, the city has an established buy-to-let rental market for its growing student population. Popular areas for students include Wavertree, Aigburth and Allerton however, the Baltic Triangle has fast become a key location for students. Known as the creative and digital hub of the city, the Baltic triangle is just a 15 minute walk of the city centre. The ‘Baltic’ as it’s known by locals is a former industrial zone which has been transformed into an urban oasis of indie start-ups, canteen-style cafes and edgy nightlife in the warehouses that characterise the area. City-Wide Investment Boosts Property Demand Liverpool is a city which continues to focus on inward investment to improve infrastructure, cultural offerings and redefine the city environment. It is this investment that has created a thriving property market, which, buoyed by lower property prices than the South, provides the ideal platform for buy-to-let investors. Property prices are still relatively affordable compared to similarly-sized areas in the South of the UK. However, Liverpool has not been immune to post-covid boom in demand. Average prices in the city have risen by 23% since the previous 2019 peak, currently sitting at an average asking price of £202,272 according to RightMove. Liverpool still supports a thriving population of city-dwellers but the low prices and high rental yields has made the city a haven for buy-to-let investors. The strong local economy, student population and growth in key industries makes the city an attractive option for buy-to-let investors looking to take advantage of low property prices in a city with a bright future as part of the Northern Powerhouse. Want to find out more about our Liverpool developments or any of our other buy-to-let investment opportunities? Get in touch today [email protected].

Is 2022 the year we see house prices fall in the US ?

There is a lot of anticipation over what will happen with house prices for the remainder of this year, inflated prices and rising interest rates have some experts concerned that another housing crash might be on the way. Last year we seen huge increase in house prices even-though there was a global pandemic. This was all brought about by very low inventory levels and low interest rates which actually led to bidding wars in some States, according to Freddie Mac prices overall rose by 16.9% We can not predict exactly what will happen this year but so far the housing experts are saying it looks things are going to stay the same, low inventory levels, more prices rises and fast sales time, the Sellers market continues for another year. Bob Pinnegar the CEO of the National Apartment Association has stated that affordable housing is still going to remain a key issue this year. Supply chain delays and continued inflation will also impact every facet of the industry, from property managers to renters to owners. But there is one factor we need to take into consideration before concluding 2012 is another bull market and that is mortgage rates. The Federal Reserve is shifting policy to help slow down inflation which will result in higher mortgage rates. We already seen that the average 30 year fixed mortgage rate jumped to 3.56% in January, one of the biggest jumps in nine years. So the big question is will a rise in mortgage rates bring down pricing in this coming year or is they’re still such a shortage of housing that this will not make any difference ? Daryl Fairweather, Redfin chief economist, says, “I expect mortgage rates to slowly rise to 3.6% by the end of 2022.” This, he says, is because the Fed is tapering mortgage backed security purchases and we’ll feel the effects in mortgage rates. Dr. Lawrence Yun, the chief economist at the National Association of Realtors (NAR), forecasts the 30-year fixed mortgage rate to increase to 3.5% by the end of 2022. But even with these increased mortgage rates we need to bear in mind that housing supply is now at its lowest level since the 1970s, due to millennial homeownership and other factors such as rising building prices. And even though the mortgage rates are rising they are sill historically low. Already this year home sales in the U.S. rose in the first month of 2022, while the number of homes for sales was at a record low. House sales jumped 6.7 percent in January 2022 from a month earlier, the highest rate in 12 months, according to the National Association of Realtors (NAR). Zilllow the online marketing company say the housing market may not reach the incredible heights of 2021, but they expect it will be anything but slow. Zillow’s forecast calls for 11 percent home value growth in 2022, down from a projected 19.5 percent in 2021. It expects sales of existing homes to total 6.35 million, up from an estimated 6.12 million in 2021. The Zillow economists say the market forces that have given sellers the upper hand over the past two years or so (tight supply after years of underbuilding, remote work, U.S. demographics and low mortgage rates) will all persist again this year. They expect bidding wars on many homes, especially as the market heats up during spring and summer. Sue Yannaccone, chief executive officer and president of Realogy Franchise Grouphas said Real estate is entering a new era. The pandemic-fueled frenzy we saw over the last 24 months is giving way to a new kind of real estate market – one that will be driven by solid and sustainable demand which have not seen for a long time. The changes to Americans’ working and living behavior are also compounded by demographic shifts giving way to a new generation of homebuyers. Making up the largest share of new home buyers in the U.S. and entering their 30s and 40s at a growing rate, Millennials are finally getting off the sidelines of the housing market. So overall it looks like 2022 will not be as crazy as 2021 but there is still no reason for prices to fall anytime soon. In fact you are prepared to enter the housing market 2022 is a great year to do this, the market is more stabilised than 2021 but still prices are increasing. If you would like anymore information on our great US properties please email invest @globalinvestmentsincorporated.com

The UK Housing market has seen its strongest January since 2005

According to a report in The Guardian Newspaper published on the 1st February 2022, britain’s housing market has made its strongest start to a year since 2005, with annual house price growth rising to 11.2%, according to the UK’s biggest building society. The Nationwide building society stated that the average price of a home hit £255,556 in January, the sixth consecutive monthly increase. The annual growth rate accelerated 0.8 percentage points from 10.4% the previous month, reaching its highest level since June. Robert Gardner, Nationwide’s chief economist, said: “Housing demand has remained robust. Mortgage approvals for house purchase have continued to run slightly above pre-pandemic levels despite the surge in activity in 2021 because of the stamp duty holiday, which encouraged buyers to bring forward their transactions to avoid additional tax. “Indeed, the total number of property transactions in 2021 was the highest since 2007 and around 25% higher than in 2019, before the pandemic struck. At the same time, the stock of homes on estate agents’ books has remained extremely low, which is contributing to the continued robust pace of house price growth.” House prices grew 11.2% in January over the previous year. Guy Gittins, the chief executive of the London-based estate agent Chesterton’s, expects the London market to remain at high activity levels in the first half of this year. “For many, 2022 feels like a new chapter and house hunters have been eager to begin the new year in a new home. Following on from a busier than usual December, London’s property market has continued to see record numbers of buyers registering throughout January. “While spacious properties or homes with an outside space remain sought-after, apartments in some of London’s more central boroughs are experiencing a steady comeback. This is particularly driven by professionals who are returning to the office and are seeking a nearby home as well as international investors and students.” According to Global Investments Incorporated who specialise in selling ready and off plan investment property to overseas buyers January has been busiest ever start to any year. Global investments sales in Liverpool and Manchester have been at their strongest with investors confident in seeing price rises as predicted by Savills of around 28% in the next five years in the Northwest and the higher rental returns than seen in the south of England. To arrange a private investment property consultation with one of our specialist UK property investment consultants please get in touch. [email protected]

The St.Louis Midtown Billion Dollar Development

Developers in St.Louis have their sites firmly set on Midtown St.Louis, several residential and commercial developments have been chosen for this area. The City Foundry opened last August in Midtown and has been a roaring success. Previously a disused site the City Foundry has opened its doors as a contemporary Food Hall show casing chefs from around the city and the region a brand-new stage for their newest and biggest ideas, the City Foundry has now become the biggest attraction in Midtown. Beyond the food hall the development site will expand with hundreds of residential homes and retail spaces. Midtown has its own Corporation called The St. Louis Midtown Redevelopment Corporation and it is led by a dedicated Board of Directors and Staff to oversee the development of the Midtown area. Their aim is to help promote and guide the further redevelopment of Midtown, Saint Louis University and SSM Health worked with the City of St. Louis to develop the St. Louis Midtown 353 Redevelopment Plan which was adopted by Ordinance 70428 and became effective on March 21, 2017. The Redevelopment Plan covers an approximately 400 acre area (the “Redevelopment Area”) generally bounded by 39th Street, Spring Avenue and Vandeventer Avenue on the west; Compton Avenue on the east; Laclede Avenue and Interstate 64 on the north; and Park Avenue and Interstate 44 on the south. There are many development plans in place and these are just some of the ones we can expect over the coming years. The Armory District Project – The historic Armory Building was used by the Missouri National Guard as a location for their training camp. Today, Green Street Properties is taking this building and adjacent land and turning it into a hub of innovation. Office spaces, approximately 1,000 parking spaces, and a potential hotel. Element by Westin Hotel – Midas Hospitality has acquired the headquarters of Habitat for Humanity Saint Louis to make way for a new seven-story hotel with features including 153 extended-stay rooms, 10,000 sq. ft. of retail space, a rooftop lounge and fitness center. The Chouteau Greenway Trail Project – In 1999, McCormack Baron Salzar began plans for Chouteau Lake on the southern edge of downtown St. Louis. This conceptual development paved the way for Great Rivers Greenway’s Master Plan to connect the areas within St. Louis City via lakes, wetlands, and trails for citizens and visitors. The next step in this plan is to create a pedestrian-friendly trail going from Forest Park to Downtown St. Louis via the Midtown neighborhood. Iron Hill Project – Iron Hill will be a vibrant mixed-use destination combining shopping, living, modern workplaces, hotels, entertainment, and diverse dining options. The 850,000 sq ft project will be one of the densest developments to date in the City of St. Louis. The Steel Square Project – In June, 2018, Pier Property Group began converting the Steelcote building into 33 luxury apartments complete with 25 outdoor and 15 indoor parking spaces. This historic 40,000 square foot building, once home to the Steelcote paint company, is being rehabilitated to combine historic charm with luxury living. They estimate that within the next few years, Midtown St. Louis may well be the busiest 400 acres in St. Louis in terms of new development. The St. Louis Midtown Redevelopment Corporation has huge plans for the neighborhood. Saint Louis University has the same shared vision for Midtown by acquiring a 400 acre site in midtown St. Louis as it seeks greater influence over development in the future. The boundaries of the redevelopment area stretch from 39th Street, Spring Avenue and Vandeventer Avenue on the west; to Compton Avenue on the east; and from Laclede Avenue and Interstate 64 on the north; to Park Avenue and Interstate 44 on the south. The area encompasses the future home of a new $550 million hospital and outpatient center that SSM Health is planning to build along south Grand Boulevard, adjacent to the current SSM Health Saint Louis University Hospital. SLU’s plan lays out proposed uses within the redevelopment area which include the following – Medical and educational uses including offices and training facilities for those in the health care and life sciences; classrooms and related instructional, laboratory, research, hospice, nursery and day care spaces; and pharmacy facilities. Office facilities for private, public and non-profit institutions, businesses and agencies; research facilities; retail, dining, entertainment and other services; hotel and conference facilities; recreational and community facilities; and parking. New residential housing near SLU’s south campus, where it’s estimated that 60 to 80 single-family or low-density dwelling units could be constructed on vacant lots in the area. A future connection with the proposed Chouteau Greenway, which would flow through the redevelopment area. Midtown St.Louis is undergoing massive changes and once finished it will be seen as one of the best parts of the cities, properties in around Midtown are likely to soar in value as we have seen in other US cities when the Midtown areas have been developed. If you would like information on any of our great St.Louis properties please contact us at: [email protected]

Manchester property prices predicted to rise by 112% says new study

According to the website ‘ www.ilovemanchester.com’ Manchester property prices are predicted to rise by 112% a new study says. This means in 2031 the average Manchester property price will be around £629,000 . ilovemanchester.com has repoerted that the average property value in Manchester has increased from £139,783 to £296,536 over the past ten years. This means, at this rate, the average property price in Manchester in 2031 would be around £629,000. A new study by Share to Buy has revealed that Manchester is the best place to invest in a property for any homeowner – and they say it’s no wonder that Manchester property prices are soaring faster than any other city in the UK. After all, Manchester is one of the UK’s top locations to live in due to its wealth of entertainment, from shopping at the Trafford Centre to catching live music at the Manchester Arena and watching football at Old Trafford. The average UK property value has increased 10% this year alone – and some locations have increased in value more than others. Using UK government Land Registry data, the new study examines the UK locations where property values have increased the most and speculates what these property hotspots could be worth in 10 years’ time if growth continues at the current rate. The increase of 112% puts Manchester ahead of Coventry, with a 93.7% property value increase over 10 years, Birmingham, Gloucester and Milton Keynes. “First-time buyers looking to get on the property ladder may wish to do so for a combination of reasons: it’s common to not just want a comfortable home to live in, but the chance to buy in an area you love, as well as making a solid investment to ensure financial wellbeing over the long term,” says Nick Lieb from Share to Buy. “Locations where property values steeply increase are a great option for buyers looking for not only a home but an investment; however, the initial costs in these locations are often out of reach for first time buyers. “While these projections are of course based on the current rate rather than our own forecasts, many potential purchasers are already feeling priced out of the property market in popular areas – that’s why schemes like Shared Ownership and Help to Buy exist. “These government-backed products assist buyers in climbing the property ladder by lessening the upfront deposit costs. “Shared Ownership allows buyers to purchase a share of a property, while Help to Buy can help first time buyers with the assistance of an equity loan. “As a result, eligible buyers who would otherwise struggle to buy can purchase properties in sought-after locations which offer a rich lifestyle and a solid return of their initial investment when the time to sell eventually comes.” Source www.ilovemanchester.com

The Rochester housing market is booming

Although the real estate market is normally pretty stable, the year has been different, but in a good way as far as real estate investors are concerned. Inventory is 40% lower than 2020 while median home prices in Rochester have increased by over 10%. The local real estate association predicts the trend of rising home prices in metropolitan Rochester will continue as buyers from Boston and New York City look for more affordable real estate in smaller, more liveable cities. The economy in Rochester is the 4th largest in the state, driven by a diverse mix of industries including science and technology, research and development, and advanced manufacturing. Many houses and commercial buildings in downtown Rochester date back a century or more, with many properties being renovated right now. Rochester has a great quality of life and a low cost of living, making the area attractive to families and millennials alike. Keep reading to learn why the Rochester real estate market remains a good place to invest. As scientists forecast a massive population migration to more liveable areas, one of the top places to live in the next 50 years will be Rochester The national median sale price for single-family homes was 1.5 percent higher in October 2021 compared with the price in the last three weeks in September, according to Redfin. Median home sale prices were 13 percent higher than those in October 2020 and 30 percent higher than those in October 2019. The housing market in Rochester was extremely hot over the summer. Prospective investors have to be quick if they are looking for a good value investment home. Global Investments predict 2022 will increase just as much as previous years and make Rochester one of the top places in the U.S. to invest. Rochester has all the ingredients, great prices, high rental yields, lowering inventory and potential fantastic capital appreciation. Get in touch today [email protected]

Flint, Michigan. Why you should consider investing now ?

Flint, Michigan. Why you should consider investing now ? Known as “ The Vehicle City “ Flint is the largest city and seat of Genesee County, Michigan, United States. Located along the Flint River, 66 miles northwest of Detroit, it is a principal city within the region known as Mid Michigan. According to the 2020 census, Flint has a population of 81,252, making it the twelfth largest city in Michigan. After considerable research Global Investments with their professional contacts in the U.S. have just released buy to let investment property in Flint, Michigan. For a seasoned buy to let property investor there are many factors that sway decision. Obviously the main factors are, price, rental yield and potential capital appreciation. Global Investments started business nearly 10 years ago selling investment property in Detroit. Many people at the time were harshly critical of the area and potential. It is very easy to simply read one side of the story and listen to the negativity surrounding the demise of the once bustling city filled with business and opportunity. 10 years ago Global Investments were selling an average three bedroom, brick built single family home for less than $25,000 in Detroit. The increase in demand and steady growth of Detroit is still continuing however to purchase that same property it will now probably cost you close to $60,000 Our early investors ( that we still deal with ) have been extremely happy with their decision. Who can blame them ? Now, we are not making any statement that Flint will mirror Detroit however there are current statistics and trends that are peaking the interest of many savy long term investors right now in Flint. The first thing to mention is price. One of the many reasons that sales slowed down in Detroit over the last few years which catapulted Cleveland, Ohio into one of our busiest regions was the ability to enter into the market at a very low cost. Property prices is Flint are incredibly low right now which enables a larger audience to look at getting on the investment ladder. So to begin let’s get the “ Elephant in the room “ out of the way and explain why properties dropped so considerably in Flint, Michigan. Quite simply put it was the water scandal. It began in 2014, when the city switched its drinking water supply from Detroit’s system to the Flint River in a cost-saving move. Inadequate treatment and testing of the water resulted in a series of major water quality and health issues for Flint residents. This stemmed from the tragic decision in 2013 to end the city’s five-decade practice of piping treated water for its residents from Detroit in favour of a cheaper alternative: temporarily pumping water from the Flint River until a new water pipeline from Lake Huron was built. Although the river water was highly corrosive, Flint officials failed to treat it, and lead leached out from ageing pipes into thousands of homes. One of the few bright spots of the Flint water crisis was the response of everyday citizens who, faced with the failure of city, state, and federal agencies to protect them, united to force the government to do its job. On the heels of the release of test results in the fall of 2015 showing elevated lead levels in Flint’s water—and its children—local residents joined with NRDC and other groups to petition the U.S. Environmental Protection Agency (EPA) to launch an immediate emergency federal response to the disaster. Those efforts paid off. In November 2016, a federal judge sided with Flint residents and ordered the implementation of door-to-door delivery of bottled water to every home without a properly installed and maintained faucet filter. A more momentous win came the following March with a major settlement requiring the city to replace the city’s thousands of lead pipes with funding from the state, and guaranteeing further funding for comprehensive tap water testing, a faucet filter installation and education program, free bottled water through the following summer, and continued health programs to help residents deal with the residual effects of Flint’s tainted water. Since then the state provided more than $350 million to Flint, in addition to the $100 million from the federal government – all of which is helping with water quality improvements, pipe replacement, healthcare, food resources, educational resources, job training and creation, and more. For five years in a row Flint’s water has been meeting federal standards. The water is now testing at 3 parts per billion (ppb) which is much lower than the federal requirement of 15 ppb. Flint’s water is one of the most monitored and testing the same as similar cities across the state and country. Obviously during this scandal many people and businesses left the City and the housing market plummeted. But things are changing, with the number of homes on the market continues to be near historic lows, which has driven prices up. Strong demand for housing among millennials, along with low interest rates, have tightened the market still further. Lumber prices are higher than normal, too, which has pushed up the price of new construction. With these factors and also the continuing exodus in many major cities in the US for more affordable housing in the suburbs has caught the eye of long term real estate investors. Flint, Michigan’s Real Estate is again starting to slowly move in the right direction and with prices so low and without the water issue hanging over its head the potential for capital appreciation in the coming 10 years could eclipse Detroit ! So what are the facts : Prices increased 0.39 percent from February to March in the Flint MI Metropolitan Statistical Area, according to the CoreLogic Case-Shiller Index, one of the leading trackers of the housing market. Prices are up 8.80 percent from March 2020. Forecasters are expecting increases for 2021 – 2022 to increase by at least a further 8% and possibly into double figures. Once confidence

MANCHESTER – Still the hotspot for appeal, Investment and returns

Buying a property has always been all about location and choosing the right spot can be crucial in getting the best investment for your money. Manchester is now one of the UK’s top property hotspots despite the COVID-19 pandemic, all thanks to its significant role in the Northern Powerhouse and the substantial investment the city’s seen, both in the centre and throughout the suburbs. Manchester has long been one of the strongest property markets in the north, but its resilient construction sector has meant that is now a secure place to invest your money in bricks and mortar. The city is vibrant. and fast becoming a desirable place for young professionals due to its strong jobs market, extensive levels of development and in the future, its integration with HS2. The Manchester Housing Market has seen one of the busiest housing markets over the last year, with house prices rising by a massive 6% year-on-year, higher than the national average of 4.3%. Even throughout the pandemic there has been strong demand for houses in Manchester as people leave London behind in search of better value further north, and this has led to a surprising amount of activity in the housing market. This current demand for property will also be fuelled by the stamp duty holiday that allowed significant savings. As the economy begins to re-open as restrictions end, it is likely that there will be increased confidence, and those who had put moves on hold now put their property on the market. For those looking to buy in Manchester, they can expect to pay an average property price of £213,000 compared with the £320,000 average across England and Wales. A Manchester detached house could cost as much as £371,000 whilst a semi-detached property comes in at £223,000. Detached properties are seeing the sharpest rise in prices currently as wages rise and more families locate to the city. Flats in the area are worth around £172,000 and terraced properties fetch in the region of £153,000. Traditionally, house prices in Greater Manchester have stayed well below the national average, but they are experiencing a positive upwards trend. They also sit comfortably beneath nearby Cheshire and Derbyshire, which further adds to the city’s appeal. Here at Global Investments, we have recently launched the sales of Manchester Waters, Stunning architectural development of 742 apartments across five residential towers. Conveniently located within walking distance to Manchester City Centre and Media City UK offering luxury apartments form £130,000 with 6% guaranteed return form five years. The Appeal, Manchester has a great many things going for it, but its tough construction sector has proved attractive. Despite the closure of many building sites during the lockdowns, an impressive 35 residential schemes were still completed during 2020. There are now in excess of 12,000 residential units under construction with yet more development in this area expected in the next few years. It wasn’t just residential construction that saw a boom in Manchester either, as nearly 700,000 square feet of office space was also completed last year, with another 10 schemes in the planning stages. Whilst many have now turned to working from home, Manchester has shown that there is still a strong demand for office spaces. All of this means that the jobs market in Manchester is a strong one, with many big names relocating up to the area from down south. There has also been significant growth in the tech and start-up sector, providing young people with a fresh pool of career opportunities. Whilst the Manchester property market is a fluid one, it still offers great value for money for most investors. Whether you are looking for a buy to let investment or somewhere to make your home, this city offers huge promise in terms of its job opportunities, cultural enrichment, and profitability in the properties that you can buy. This article gives credit to www.propertypressonline.co.uk and www.ManchesterEveningNews.co.uk

The Rental Market in Rochester & Why an increasing amount of people choose to live in Rochester, NY

Across the largest cities in the USA, rents have been growing at a slower pace since the onset of the COVID-19 pandemic early last year. In January, this slowing trend may have found its bottom, as a more optimistic outlook on 2021 has set in with continued news of relief and vaccines. Rents at the national level, calculated by averaging the top 50 largest metros, are still growing below pre-COVID rates. The median rent in January was $1,442, up 0.8 percent year-over-year. In March, rents were growing by 3.2 percent year-over-year. Rent growth may have found a floor, as January marks the first month since July where the trend has not slowed compared to the previous month. Some markets are seeing rents grow by double digits. Rents are rising in many of the same markets where home prices are rising. Many of the same factors that attract homebuyers — good schools, job opportunities, affordability, and more — attract renters, and the rental trends reflect that reality. Metros such as Rochester, NY which is one of the region’s topping the list of largest year-over-year rent growth. Also among one of the metros with the fastest-growing home prices. The expensive markets of Los Angeles and San Francisco are driving renters to more affordable housing further inland. And with working-from-home as the new normal, Rochester offers more affordable options without sacrificing too much in terms of proximity to the major hubs. This welcoming town south of Lake Ontario was known as Flour City in the 1800s, thanks to many flour mills located along waterfalls on the Genesee River. Then, when nurseries and seed production replaced the grain industry, it switched monikers to the very lovely sounding Flower City. These days, this upstate town is best known for its world-class educational institutions (like the University of Rochester), many parks and frequent festivals. Locals enjoy a low cost of living, with U.S. News giving Rochester a score of 7 out of 10 in its value ranking, noting that “Rochester offers a better value than similarly sized metro areas when you compare housing costs to median household income.” The organisation also ranked Rochester as number two in best places to live in New York, and last year, realtor.com ranked the city number six on its list of hottest real estate markets in the country ! As Bloomberg recently reported, many native New Yorkers are fleeing the Big Apple for the safety and security offered by smaller cities like Rochester. .Over the last 12 months, the cost of leasing a one-bedroom dropped by almost 22 percent in New York City and more than 19 percent in Boston, bringing their median rents to $2,350 and $2,020, respectively. Closer to home, the median for the Buffalo market fell by just a hair over 7 percent, to $1,050. By contrast, the median rent for a one-bedroom apartment in the Rochester area last month was $1,010, 4.1 percent higher than a year earlier. The Greater Rochester Association of Realtors has found that not enough homes are for sale in the Rochester metro area to meet current demand. The shortfall has helped drive up the median price of a home to $161,000, a 9.2 percent increase over 2020. These statistics based on an incredibly tough year shows why Global Investments have decided to move into the Rochester market. If you would like more information regarding properties in Rochester upstate New York then please email the team at : [email protected]