The latest Deloitte Manchester Crane Survey for 2023 has been released this month, providing valuable insight into the current state of the property market in Manchester by analyzing the construction and development activity in the city centre and surrounding areas.
Already, Manchester is a city that has undergone a dramatic transformation over the past few decades, making it one of the most desirable places to live and work in the UK. This city boasts a rich history and culture and is home to world-class universities, museums, theatres, and galleries, as well as a vibrant nightlife, with numerous bars, clubs, and restaurants.
The city is a hub for various industries including finance, technology, media, and healthcare, among others. With a growing economy and a strong professional network, Manchester offers an abundant supply of job opportunities. The city also has excellent transport links, including a well-developed tram and bus network, as well as a major airport, making it easy to travel both within the city and beyond.
Overall, Manchester is a dynamic and diverse city that provides an excellent quality of life and plentiful opportunities for those looking to live and work in the North West of England, and the latest Deloitte Manchester Crane Survey only further highlights this.
The Deloitte Manchester Crane Survey 2023
The Deloitte Manchester Crane Survey seeks to report on the current state of the property market in cities across the UK and provides facts and figures to show the current health and the prospects of the local market for investment and buy-to-let, amongst other things.
Deloitte recently released their 2023 report for Manchester, and the findings were positive for the bustling and vibrant city.
According to the Deloitte Manchester Crane Survey, there are 11,759 new homes in the pipeline around the Greater Manchester area, as well as 17 new residential developments currently under construction, creating a steady supply of new housing and investment property to satisfy a huge and growing demand.
In the past year alone 2,734 new homes have been delivered as well as 582 student beds.
The survey concludes its market summary by saying “The regional centre was arguably one of the first areas outside of London where construction activity recovered following the economic downturn of 2008. Since then, it has led the way.
The continued level of activity is impressive given the challenges presented by prevailing economic headwinds during this period. Overall, it highlights a resilient regional economy.”
Manchester property market 2023
The local economy is thriving with new businesses and jobs being created at a high rate, especially compared with other areas across the country.
Residential and student property markets especially are seeing sustainable and continued growth with many having moved, and looking to move to the city due to a lower cost of living and famous nightlife and culture.
Manchester continues to represent a highly favourable investment opportunity for individuals seeking a stable, expanding, and dependable passive income stream. If you’re interested in investing in Manchester or the surrounding areas why not get in touch with us today?