Sell My House Quickly in Manchester
Sell My House Quickly found another interesting article about properties in Manchester. Where is the best place to buy investment property in Manchester UK?
Manchester is one of the best places in UK cities with investors, and it is not hard to see why. Over the years it has been transformed into a thriving place to live and the best place in the UK to do business according to Management Today.
As Manchester regenerated, more and more people moved there from other cities. People mainly came from London as they were priced out of the capital and Manchester offers similar employment opportunities. This has caused property prices in Manchester to rise 34% in the last seven years – 4% above the national average.
Although the average property price in Manchester has increased, some areas have been more popular than others. For those wondering where to buy investment property in Manchester UK, it is best to know which places have experienced growth and where there is still opportunity to invest and achieve capital growth.
Other areas that have seen a notable increase include the City of Salford. Regeneration here is rather well known as it is home to MediaCityUK. Tenants include the BBC and ITV Granada. Of course, media professionals have moved to the area to be close to jobs, and as such various high-rise residential blocks have sprung up.
The availability of modern housing paired with the new employment opportunities at media companies has pushed up property prices by 22% over the last five years.
Manchester’s property price predictions
Property prices in Manchester have been climbing higher than the national average for years now, but have they hit a ceiling?
The increase in property prices is driven by demand, and in short, whether more people want to live there than there are properties available. The imbalance in demand and available property means that prices will increase. If resources are scare, people will pay more for it than the competing bidder.
There are many reasons businesses are suddenly so enthusiastic about Manchester. It has one of the largest student populations in Europe and office space is comparatively cheaper than London. With access to top talent and affordable office space, it is no surprise businesses are settling in Manchester.
These positive indictors with regards to the jobs market and population growth in Manchester mean that consultants such as JLL are already forecasting a 17.1% growth in residential property prices up to 2024.
We found this article about best place in Manchester on BizNews. Kindly click the link to read the full story.
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