Why Manchester, and why now ?
Why are Manchester’s house prices rising so quickly?
As the capital of the Northern Powerhouse, Manchester has received considerable inward investment that has fueled economic growth. Irwin Mitchell’s UK Powerhouse report announced that, in this quarter alone, employment has risen by 1.7% and we predict that property growth in Manchester will rise by 28.8% between 2017 and 2021.
Whilst this growth is impressive, the Manchester housing market has struggled to keep up with the increase in young skilled professionals and the demand for high quality flats in the city centre has never been higher. New-build developments will prove profitable quickly as the population is currently growing 15 times faster than properties are being built.
How to take advantage of this new demand for rented accommodation
Manchester’s economy is only going to get bigger, stronger and more diverse, and property prices will certainly rise in line with this trajectory. So if you are looking to invest and want to make the most of low rates, capital growth and rental yield in this skyrocketing market, you should act now.
Get in touch if you have any questions or would like to meet up to discuss your project.