Why invest in Manchester?
Manchester continues to offer investors excellent opportunities with strong price growth predictions for the next 5-10 years and demand for high-quality rental property high, all while entry prices remain reasonable, especially when compared with London.
Manchester is identified by both domestic and overseas investors as a source of opportunity with major strategic developments and regeneration continuing across the city.
Manchester doesn’t just stand out when compared to other UK cities, economically it is amongst the highest-performing urban areas in Europe.
Recognising the city’s economic robustness, coming out of the pandemic, Manchester has one of the strongest forecasts for economic growth in EY’s annual Economic Forecast.
Such is the economic growth that predictions for the city cite that the levels of job creation in Manchester could outpace cities such as Paris, Berlin and Tokyo in the coming years.
Student staying power
Whilst its economic strength is clear to see, Manchester’s relevance, longevity and prospects for the future are also built upon the quality and popularity of the five Higher Education Institutes within the city.
Manchester has one of the largest student populations in Europe, with around 100,000 students, of which around 17,500 are international students.
Year-on-year an increasing number of university leavers are choosing to call Manchester home, feeding into the talent pool, which has, in turn, fuelled the increase in the number of companies moving operations to the city, keen to snap up the newly qualified professionals.
In recent years Manchester City Centre has established itself as the most significant residential market in the UKJLL
Business is thriving
An established international business hub, Manchester is a city of engineers, scientists, artists and industrialists. It attracts the inquisitive, the ambitious and the innovative.
Its credentials as a top Digital Tech City have strengthened since the establishment of MediaCityUK that not only transformed the entire Manchester Docks and Salford Quays area, the large scale huge regeneration scheme has fast become the base for many of the city’s digital, tech and creative companies, of which there are around 10,000 that have operations in Manchester.
Manchester is rich in heritage, with an established economy and a multi-modal transport network, including the UK’s largest regional airport with daily flights to global destinations.
Manchester is also known for its two world-class football clubs, which alone generate a vast amount of tourism and trade.
Manchester property market
For many city property markets across not just the UK but the world, 2020 was an uncertain time, throughout this period Manchester has continued to see price increases and demand for homes has remained strong.
Over the past five years, the average price of a property in Manchester has risen by 35%, according to Land Registry data, and the predictions for further price growth over the coming years are equally as impressive.
Savill’s most recent price prediction for price growth in the North West growth over the next 5 years is stronger than that of any other region in the UK.
Media City and Salford Quays
MediaCity and Salford Quays are home to over 250 businesses, including large and well-known brands such as Kellogg’s. Over 13,000 people work in the area.
Locally there are many waterside cafés, bars, and restaurants. And for residents studying and working in Manchester city centre, the Metrolink is right outside the front door, transporting residents into central Manchester within minutes.