Home to world class sport, music, art and theatre, Manchester is considered one of the most exciting cities in the United Kingdom. As more and more companies relocate to the North West city for its favourable running costs, Manchester has seen a rising increase of young professionals and graduate retention. In the heart of the Northern Powerhouse, Manchester has been the subject of mass regeneration, making it a prime location for property investment.
Why invest in Manchester?
Manchester’s four universities account for 350,000 of Manchester’s 2,710,074 population. In support of this over 11,500 are employed by the combined universities. Offering an array of post graduate opportunity, the city has seen a 70% graduate retention rate since 2016.
In light of the proposed plans to launch HS2 High Speed Train, the government are investing over £1 billion to strengthen the northern economy in the shape of the Northern Powerhouse. The Northern Powerhouse is the government’s vision for a super-connected, globally-competitive northern economy with a flourishing private sector, a highly-skilled population, and world-renowned civic and business leadership. Manchester is in the heart of this, and is currently undergoing a significant regeneration, in Manchester Bolton and Bury canal, alongside Middlewood Locks running from 2015 to 2030.
The success of Spinningfields, the Canary Wharf of the North, has inspired further growth and regeneration in central Manchester. Most recently, to jump on the development bandwagon is St John’s, a creative village to be established in the heart of the city.
Manchester is identified by overseas investors as a source of opportunity, with key developments including Media City UK, home to one of the largest regeneration schemes in the UK with Beijing Construction Engineering Group, the Cooperative’s £800m Noma, and the new £750m First Street development, offering a compelling blend of culture, retail and leisure.
With thousands flocking to Manchester for its favourable rental prices, education and employment, demand for residential accommodation in Manchester is high, to house the estimated 625,000 residents by 2025. With Manchester’s property value increasing by 29.22%, with apartments enjoying a 32.01% increase, Manchester is an excellent city for property investment.
With JLL projecting rent increases of 4.2% across Manchester over the coming five years, and the city being home to one of the highest proportions of private rentals in the UK. Manchester offers solid credentials as one of the most promising buy-to-let locations in the UK.
Due to the affordable prices in Manchester, hitting £190k below the national average of £280k, Manchester is a phenomenal opportunity. As a result of the active creative scene of the Northern quarter and consistent economy from the Old Trafford area, Manchester is on track to form a super economy of £300 billion, larger than economical counterparts Taiwan, Sweden or Denmark. With predictions for Manchester to outgrow the capability of cities including Berlin, Paris and Tokyo by 2020, it comes as no surprise that Manchester is experiencing some of the highest levels of property price growth in the country.
Manchester is rich in heritage with both local and international modes of transport to support the established economy of the city. With the largest airport outside of London, flying to over 25 destinations, Manchester is identified by overseas investors as a source of opportunity, with major strategic developments.