The new Metrolink extension that will run through the Manchester districts of Ancoats, Clayton and Droylsden will provide a boost to the housing market in the east of the city, it has been claimed.
According to developer City Loft Developments, the tram line extension will add further value to the area of Ancoats, east Manchester and Tameside.
The new line, which is expected to carry six million passengers a year, will run from Manchester Piccadilly to Droylsden and will serve a large number of residents.
City Lofts believes that Ancoats in particular is now ripe for investment by buy-to-let landlords and other professional investors.
Simon Hepden, City Loft spokesman, said: "Ancoats is currently undergoing a huge regeneration programme and offers investors a good opportunity to get in early.
"Prices remain less than the nearby city centre."
City Lofts recently launched a development called Milliners Wharf, which comprises 261 apartments by Ashton Canal.
Ancoats is widely regarded as the world's first industrial suburb and has one of the largest concentrations of Grade II-listed building in the city.
See Also: Property News (6705)
Date Published: 17 March 2008
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