Manchester has been named by HSBC as the UK’s number one city for property investment, boasting rental yields almost 3 times those in London. With an outlook of sustained economic investment, a growing population and shrinking supply of property, Jones Lang Lasalle expect prices to increase by 22% by 2020 and this is just the start. Manchester is the core city at the heart of the UK government’s Northern Powerhouse plans and £7 billion worth of investment is planned for the region, as Britain attempts to rebalance the economic power of the country away from London.
Manchester attracted more investment than any other UK city in the last 2 years
More capital has been invested into Manchester than any other English city outside of London in the last two years, according to a new report.
The research, published by Cushman & Wakefield, found that Manchester had seen £2.3 billion of investment in the commercial property sector in 2014-2015. Liverpool placed second with £979 million, followed by Leeds with £958 million and Newcastle with £842 million.
In the residential buy-to-let sector, demand for rental accommodation is also on the rise in the city, with millennials now looking to rent property rather than own it.
Manchester city centre has seen a 4,900% increase in population since 1999, with the number of people living in the area increasing from just 400 to 20,000 in 2015.
The city of Manchester has been named the UK’s best property hotspot in a new survey.
The research analysed the UK’s towns and cities to establish which ten locations have the greatest potential for property price increases over the next decade.
The north-west city, already tipped for excellent growth by a number of prominent sources, came top of the survey, with the continued economic growth of the region and its continued low city centre prices cited as the main reasons behind its position.
Manchester’s rise to be a world leading modern economy has seen Oxford Economics predict that employment growth in the city over the next five years will exceed many international capitals including Paris, Berlin and Tokyo.
Major investment is being made across Greater Manchester in to all sectors of the economy. Significant infrastructure spending shall make Manchester one of Europe’s best-integrated cities with seamless transport solutions for its citizens.
High Speed Train – £40.6bn planned high speed rail link with travel time to London of only 1h 8m – construction due to start in the next two years.
Metrolink – Upgrade works to provide a new “second city crossing” line and direct connection to the Trafford Centre .
Airport – £1bn being spent over the next 10 years.
Student Population – The world-class universities support the biggest student population in Europe, at 105,000 people. The Greater Manchester region has a student population of over 400,000.
Manchester is also home to two of the world’s best known football teams, United and City. Sport is as much at the heart of the city’s culture as its work ethic and the city is home to some of the world’s best sporting facilities for cycling, cricket, golf and a variety of other sports.
All this culminates in Manchester being voted one of the world’s best cities to live in, in a study by the Economist Intelligence Unit, placed ahead of London, New York and Rome for quality of life.
Source: Smart Invest