Greater Manchester

What are the advantages of investing in this great City

Manchester is a thriving, prosperous northern hub and is considered the commercial and cultural capital of the North of England. It’s the third most visited city in the UK* and attracts 100,000 domestic and international students, boasting the largest campus in Europe**. A pioneer in everything from technology, engineering and computing to research and robotics, Manchester is a vibrant and progressive city, forever expanding and full of diversity.

Location

Manchester has a central UK location, bringing it within one hour's flight of London and two hours of most European capitals. The M60 Motorway has made the area more accessible than ever, whilst the comprehensive rail network boasts 142 route miles and 98 stations. 25% of the UK's motorways run through the city and over 11 million people live within 50 miles of the city centre.†

The city boasts one of the world's premier airports, Manchester International Airport, a well-integrated public transport system, and a wealth of cultural, shopping, sports and heritage potential to explore.

Rental Market

In all areas of Manchester, and at all price points, rental property is being snapped up faster than it can be provided. In a financial climate where purchasing a property is out of reach for many consumers, people are relying on the rental sector to provide homes for them.

Currently, high numbers of well-paid city workers and domestic and international students living in the city sustain the rental market in Manchester and surrounding areas. Demand for rental property in both Manchester and Salford city centre is expected to increase dramatically as a result of the BBC’s relocation, resulting in an increase in buy-to-let investment opportunities.

In Manchester, the large pool of students at local universities, the development of the business district, Spinningfields, and the opening of MediaCityUK at Salford Quays all continue to ensure that people are moving into the city and demand for rental property is rising. Bury in Greater Manchester is the country's leading property sales hotspot, according to new research by building society Halifax. Sales of homes in the town have risen by 44 per cent during the first half of 2011 compared with 2010, more than in any other town in England and Wales.

Economy

According to the Office for National Statistics, the 2010 mid-year population for Manchester was 500,000. Manchester lies within one of the UK's largest metropolitan areas, Greater Manchester, which has an estimated population of 2.6 million, with a workforce of 1.2 million, making Manchester the largest economy outside London.

The city centre population currently stands at 20,000, from 1,000 in 1990 and promises great growth potential with large, blue-chip organisations from finance houses, law firms and the BBC relocating their activities to MediaCityUK.

Unemployment is far lower than UK averages, at 2.9% and with well-paid jobs, Manchester attracts a young, upbeat population, around 65% of whom are under 45 years of age.‡

University

Manchester houses over 100,000 students across 3 universities: The University of Manchester, which is in the Russell Group top 20 universities, Manchester Metropolitan University and The University of Salford, and is also home to the Royal Northern College of Music.

The large pool of students in Manchester ensures that people are moving into the city and demand for rental property is rising. What’s more, 14% of students pick to attend a university in Manchester due to its earning potential††.

Manchester Facts

• Manchester boasts the largest UK economy outside London
• The rental market is sustained by high numbers of well paid city workers and domestic and international students living in the city
• Property prices have shown strong growth as the city's economy continues to expand
• Over £1 billion of public and private investment in office, retail and leisure facilities is encouraging tens of thousands of affluent young professionals into the city centre and its surrounds
• There will be £4.9 billion pounds of construction in the next 10 years
• Over twenty of the Nobel Prize winners have come from Manchester
• Over 50,000 journeys are made daily on the city’s Metrolink
• Manchester was the world’s first industrial city
• Manchester has over 2,000 foreign owned firms
• The first modern computer was built in Manchester
• The atom was first split in Manchester
• Has the tallest building in the UK outside of London

*Source : about.com [ back ]
**Source : savills.com [ back ]
†Source : Office of National Statistics [ back ]
‡Source : Manchester.com [ back ]
††Source : Thecompleteuniversityguide.co.uk [ back ]

See all our investment properties in Manchester.