Manchester market property for sale no immediate changes planned

The economic development of Manchester is relative to some of the top financial hubs of the continent. The population of the city continues to increase with the budding inflow of young professionals, students, and diversification in the economy. Extensive construction and infrastructure development makes it one of the fastest rising regions in the country and the continent. Particularly, the investors looking for better ways to invest in real estate outside the capital city can get low-cost options which can rise more in the future. The city provides options in private rented sectors at competitive rates. With higher government funding into various developmental projects as compared to London, an increase in investment from overseas buyers can be seen which can lead to an expansion in the property market. Even the cities Leeds, Glasgow, and Bristol may see an increase in the total number of developmental projects in the future.

Property for sale Manchester

Since 2015, the population increased with the rate of six percent (as per the data of Manchester City Council 2018) and approximately 65 percent of the youngsters graduating from the local universities stay back after graduation. At least 36 percent of the students who were pursuing their degrees elsewhere returned to Manchester after finishing their course. Hence, the city requires a number of new student accommodations each year due to the increase in the population.

Similarly, the demand for buy-to-lets has been forecasted to develop as the property investment provides lucrative rental income. House price escalation is predicted to be at 57 percent by the end of 2028 in the city and property for sale manchester.

Northern powerhouse Manchester

In the last few months, the cities in the south dominated real estate markets, in terms of, house price growth but during the recent political and economic uncertainties created by Brexit, the northern powerhouse showed resilience and augmentation.

Manchester provides a wide range of jobs for young workers and the financial setup of the city is highly diversified offering a range of opportunities to youngsters in the financial and scientific sectors.

In 2018, the total investment in the built-to-rent sector was £2.6bn (as per Savills) that was 11 percent higher than 2017 but it indicated a higher level of expansion.

Rental growth

There is a demand for renting in the city as it offers higher flexibility and superior locations for employment and suits the modern standard of living. The government’s Help-to-Buy Scheme is expected to end in four years when more people will rent than before. The long-term renting features will become readily available in the future with improved government policies and it will provide stability to tenancy and stability to the owner.

Flats for sale Manchester city centre

A number of new projects and construction of new homes in the city centres has created an active buyer market where a number of new flats for sale Manchester city centre and apartments will be available in the next couple of years. Some buyers are approaching the areas, which will soon become part of the city centres like Ancoats and the area close to Green Quarter. Some of the key areas that witness the highest rise in price include Cheetham Hill, Eccles, and Urmston. These areas provide a strong sense of community and have railway stations or metro-links. These provide the decent affordable commuter base, and in some areas, which were traditionally less affluent, the prices are persistently increasing.

I am a Business Development Manager At Hamilton International Estates