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Manchester Property Investment

Should you consider Manchester property investment?

Located in Greater Manchester, Manchester is one of the most exciting places to live and work today, with many young professionals flocking to the city for it’s excellent employment prospects. Experiencing the fastest growth outside of the capital and leading the way in property investment, Manchester has a very promising future ahead.

The city’s population continues to grow at an incredible pace, benefiting from the rise of people leaving London for a more affordable lifestyle. Today, Manchester is considered as the UK’s top rental hotspot with house prices increasing at a rapid pace. Buy to let properties in Manchester are in huge demand, and have some of the highest occupancy rates in the UK.

Manchester Economy

According to Invest in Manchester, the 10 boroughs of Greater Manchester combined make the largest city region economy outside London, with a gross value added (GVA) of £62.8bn. In addition to this, Manchester is set to see the highest rate of economic growth amongst all major UK cities over the next five years according to Oxford Economics, with a GVA growth of 16.4%

Manchester House Prices

Manchester’s vast population growth has put a huge amount of pressure on the city’s housing supply and as a result, Manchester has seen a property boom in recent years. The city has seen an impressive growth in house prices – according to Manchester Evening News, house prices have increased by 11% in the last year. The rental market in Manchester is performing equally as well, with rents expected to grow by 15.9% between 2022-2026. As Manchester’s thriving economy continues to grow, we’ll see more potential tenants and investors flocking to the city.

Connectivity

Manchester is extremely well-connected, with a wide variety of public transport available in and around the city, and things are only expected to improve with the addition of the the HS2 high speed rail line which will cut travel times even further, putting Manchester just over an hour away from the capital. No matter where you are in the region, you should have no issue getting around. Manchester’s local tram system Metrolink reaches various parts of Greater Manchester and the city’s two main railway stations, Manchester Piccadilly and Manchester Victoria, have direct links to the whole of the UK. Manchester is also home to a huge international airport, where you can get direct flights to all corners of the globe from its three terminals.

Current Manchester investment opportunities

Manchester Property Investment Stats

 

11%

House prices in Manchester increased by 11% in 2021. (Manchester Evening News, 2022)

25.8%

House prices in Manchester are forecast to increase by an impressive 25.8% during the 2022-2026 period. (JLL, 2021)

15.9%

Rents in Manchester are expected to see a 15.9% increase between 2022-2026. (JLL, 2021)

2.8M

Greater Manchester’s population currently stands at over 2.8 million. (ONS, 2019)

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