Manchester’s property growth is rising exponentially, accelerating past the national recorded average. Between July 2014 and July 2017, the city has experienced a 34% rise in property prices compared to the growth level for other cities in Britain sitting at 30%, showcasing Manchester as a distinct urban hotspot and 4% up on property growth.
A soaring student population and surging appeal pushing up the population have helped to establish a dynamic mixed-use neighbourhood underpinned by Manchester’s burgeoning businesses and ambitious regeneration initiatives across the city. Over 100 companies based in Manchester are listed in the Financial Times Stock Exchange, glorifying their position as the highest percentage of market capitalisation. Unparalleled growth levels are evident throughout the city which are set to progress over the next ten years, outperforming the likes of the capital and other property hotspots within the UK, whilst maintaining its glorified status as a city outstanding in growth and development.
Incremental boosts in the city’s economy has been continuous and lasting, in contrast to the minimal growth in house prices, saturated markets and sky-rocketing prices in the South, which have had a detrimental effect on the opportunity for ascending capital growth and higher rental yields. According to the Nationwide Building Society’s House Price Index, London’s house prices have dropped one per cent year after year.
A number of factors have contributed to the Manchester’s real estate boom, falling unemployment and strong job growth is one of the catalysts behind the high levels of property activity, as well as a multitude of large businesses increasingly choosing Manchester as their home. Similarly, large corporations are now more than ever relocating to Manchester to seek the benefits of recent infrastructure improvements, providing a great reason to entrust in the city’s economic strength as a global leader in property, digital, creative arts and investment.
Manchester is a captivating city that has the highest graduation retention rate outside of London, and with a staggering 51% of university graduates choosing to stay in the area the city has become an emerging hotspot for professionals to live and work within the city.
Transforming the region, Manchester has emerged into a cultural destination attracting people from all around the world to live and invest. Although growth is evident all across the city, research into the best postcodes for investment in Manchester has been collated to establish which areas benefit most from the biggest jumps in property prices. Choosing to stay central in locations such as Castlefield, Deansgate and the Northern Quarter are popular amongst tenants, as are the city’s outskirts in Ancoats and New Islington that provide a cheaper alternative to the housing in the centre.
When deciding on where to invest, pinpointing a specific area that is experiencing regeneration is essential to assure capital growth, as investing now while prices are lower are only set to prosper over the forthcoming years – a no brainer for making a profit on your investment. RW Invest property specialists offer a plethora of new build Manchester developments in areas experiencing a dramatic revolution, capitalising on fantastic opportunities for investment.
As well as being the fastest growing city for property growth, Manchester was also named the third most valuable city in the UK, with a housing economy worth £133 billion it is clear the city is spearheading the way for all northern cities in property investment today.