Manchester

Greater Manchester is one of the most economically diverse regions in the UK. It is one of the UK’s largest metropolitan areas and second most populous area outside of London.

WHY INVEST IN MANCHESTER

Manchester, Salford and Trafford have seen tremendous growth over the last 20 years. Many companies have relocated to the city such as the BBC, ITV and Warner Brothers to large redevelopment projects such as Media City in Salford Quays. Amazon, Deloitte and Hewlett Packard will also move to the city soon. This has led to an increase in employment, population growth and higher demand leading to rising property prices and rental growth, making Manchester a great investment.

LIFESTYLE

Today, Manchester has grown from its industrial origins into a diverse and state-of-the-art economic base. Manchester is a modern cosmopolitan city with a thriving local culture and all the amenities you would expect from a major metropolis offering a varied lifestyle for everyone with parks and canals. There are many shopping malls such as the Arndale and Trafford centre and it has a vibrant nightlife and music scene, with many bars and restaurants catering for all international cuisines. It is also rich in sporting history, with two of the world’s largest football teams, Manchester United and Manchester City F.C, based in the city.

ECONOMY

As a result of successful economic initiatives such as the Northern Powerhouse project, Manchester’s economy has grown 49% since 2000, totalling £36.6 billion as of 2020. The economy is expected to produce £53.7 billion per annum by 2035. The average economic productivity per person GVA has risen 31% since 2000 and is expected to rise 24%, by 2035.

EMPLOYMENT

With 1.4 million jobs contributing to the economy of Greater Manchester, the working population has experienced a significant increase in wealth, with average disposable incomes increasing by 92% over the last two decades. This trend will continue, with household incomes seeing a 51% gain until 2035.

TRANSPORT

Manchester’s strategic location and transport network via rail, road and air provide excellent connectivity throughout the UK and abroad.

Manchester already benefits from excellent rail links to major UK cities, and the HS2 high speed rail link will shorten the travel time to London to just over an hour and bring 180,000 new jobs and add £1.3 billion to Greater Manchester’s economy.

The Metrolink, 110,000 commuters use the light rail system daily and is undergoing major extensions. The new recently opened Trafford Park Line cost £350 million.

Manchester Airport is the largest in the UK outside of London. The airport provides its 23.5 million passengers a year with direct flights to 225 destinations, including Dubai and Hong Kong.

A new HS2 station at Manchester Airport will improve its accessibility and enhance the economic effect of the Airport City Enterprise Zone, attracting major companies and creating 20,000 jobs over the next 10 years.

EDUCATION

Manchester’s great lifestyle has attracted many students from both the UK and abroad. The city is in the Top 50 World Best Student City rankings.

With more than 100,000 students, the majority of whom are enrolled in the three main universities. Manchester has one of the largest student populations in Europe. There are 26,000 international students with 51% of graduates staying in the city. Meaning that 38% of Manchester’s population is under the age of 25. These are fundamental factors for a strong future rental market and will enhance the economy with a highly skilled workforce.

POPULATION GROWTH AND DEMAND

By 2035, the population is projected to grow by 36% from 2000, reaching 1,154,970 residents. This population growth will strengthen the economy, while accentuating the demand on an already undersupplied housing market.

HOUSING MARKET

Although construction activity has increased in recent years there is a substantial undersupply of homes, with just 34% of the city’s housing needs fulfilled over the past 9 years. By 2031, it is forecast that there will be an undersupply of at least 82,505 housing units.

HOUSING PRICE AND RENTAL ARE INCREASING

House prices have increased 82% over the past 10 years and are forecast to rise 23.5% between 2020 and 2026. Rents have increased 21% over the last 5 years and are expected to increase by a further 15% to 2026.

REGENERATION

Manchester has undergone a massive transformation since the 1990’s with many regeneration projects which have attracted people back into the city. The Manchester Core Strategy focuses on revitalising the city centre and urban areas so it will be highly ranked and regarded worldwide.