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Congestion Charges - City Centre Buy to Let Is A Winner

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Congestion charges are on the agenda for many councils around the UK with Manchester planning on following up London in short order.

The newly announced congestion charges for Manchester certainly favour city-centre living with no charge at all for travelling out from the centre in the morning and back in at night. This is important for city centre buy to let investors as there is a huge trend towards living in the bustling centre whilst commuting to work in nearby towns such as Stockport - our own Northern office base in Stockport, South Manchester has around 50% of our staff doing just that. These congestion charges will certainly affect business decisions to set up in the city centre rather than in the business hubs around the city without at all negatively affecting whether people want to live there.



It looks like these types of congestion charges are going to make the centre of the city more and more of a residential zone and less of a business zone in years to come.


(Courtesy of Channel M)

Combined with an almost entire standstill in new residential property development in city centres following banks pulling funding for this type of scheme on the whole and the imminent overtaking of supply of property in the centre by demand to live there, it is only a matter of time before further effects such as congestion zone charging help push rents and indeed prices further forwards.

This news story has come from the property investment blog by Stuart Law, CEO Assetz plc.

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