Manchester continues to top the tables for growth in the UK and this Northern city is powering ahead with a steady stream of regeneration projects, new build properties and infrastructure investments. There have been several different indicators that are showing that Manchester is one of the best UK cities to invest in, from it’s incredible student retention rates to its rapidly rising house prices.
The evidence of Manchester’s success can be seen in a number of tables – Manchester recently came top of the UK’s 20 largest cities in terms of property price growth. This is a considerable achievement that shows how Manchester is leading the way for other cities in the UK. Manchester’s increasing appeal to investors and residents has meant that properties here are in higher demand, thus increasing prices across the board.
It has been outperforming other UK cities in several areas, for example the average price rise in June 2018 the UK was up by 4.6%. In contrast, Manchester properties were up by 7.4%, showing a significant difference between Manchester and the rest of the UK. Manchester is often compared with London, as it’s regularly called the UK’s second city. However, when it comes to rising house prices, Manchester is not second. Prices in London only grew by 0.7%, which makes for an obvious difference.
New developments in Manchester have been transforming the city and providing valuable investment opportunities too. Properties like these from RW Invest are tailored to meet the needs of Manchester’s new young professional residents, with key locations, modern design and high end interiors.
For property investors, Manchester is a great choice as the leading UK city, with rental returns of up to 9% encouraging investors to choose this industrial city in the north. Increased construction levels are another key indicator of the success of Manchester’s property market. There have been several landmark developments in Manchester like the regeneration of Spinningfields, the construction of MediaCityUK and the huge programme of redevelopment in St Johns.
The governments Northern Powerhouse strategy is also having a positive impact on Manchester’s property market. Investments into transport have made the city far easier to get around. This has increased an appetite for city centre property close to transport links. The introduction of walking routes and cycle lanes has also been a useful strategy for city centre residents who are choosing to live close to where they work and play.
There has been significant investment into Manchester’s industry and education sectors too. This has in turn increased job prospects, encouraging more and more people to move to the city. Job growth in Manchester has increased by 84% between 2002 and 2015, and new people who are moving to take these jobs will be looking for somewhere to live. Manchester’s population growth can also be seen in the numbers – it’s population has also increased by 149% between 2002 and 2015.
Property prices are a clear indicator of increasing confidence in the Manchester property market. In 2017, house prices in Manchester grew by an impressive 10%, this continued high growth has meant that capital appreciation in Manchester has been higher than ever. This impressive capital appreciation is allowing investors to start earning returns on Manchester properties quickly and continue to reinvest in the city. Manchester has continued to show impressive growth and several opportunities for investors, and this trend looks set to continue as Manchester leads the way as a shining example of investment gone right.