A handover of the devolved health budget, HS2 commitments and a formal remit for Transport for the North have all aligned to make Manchester the Northern Star of property development. Here are 10 reasons why Manchester is the considered the jewel of the Northern Powerhouse.
- Manchester has seen a 100% surge of landlords in both December 2016 and then again in January 2017, according to data from Upad;
- Rents in the city are predicted to increase by around 25% in the next year, according to RICS;
- Jones Lang LaSalle has projected that Manchester house prices will grow by 4.5% per year for the next five years;
- The weakened sterling could boost tourism and make it cheaper to invest, while international connectivity via Manchester Airport increases, Deloitte commented;
- HSBC has identified the city as one of the top four buy-to-let hotspots in the country, reporting rental yields of 7.6%;
- According to the Manchester Crane Survey, 6,963 residential units were under construction in 2016, smashing the former record by 2,994 units;
- Manchester’s adopted Core Strategy plans for 3,700 new homes per annum;
- There is a strong base for residential development to meet targets, with a construction and planning pipeline extending to 2020, the Manchester Crane Survey reported;
- Manchester, alongside Salford boasts the largest number of new rented homes under construction outside London, according to research by the British Property Foundation;
- Factors underpinning continued growth in the residential sector are more than just lack of supply, Deloitte commented; the strength of residential market demand is underpinned by the city’s resilient economic growth, investment in infrastructure and employment sector diversification.
The WhatHouse? New Homes Debate will be held in Manchester for the first time this year. Held on 10 May, The WhatHouse? New Homes Debate is a morning of lively, interactive panel discussions with senior property industry figures, local leaders and regional influencers.
Chaired by Lord Hague, the key housing issues affecting Manchester and the wider north-west and Northern Powerhouse will be debated in front of an invited audience.
Is this event for you?
The morning event at Old Trafford is for senior professionals within the housebuilding industry. The event is completely free, all you have to do is register your interest and a member of the WhatHouse? and Show House magazine teams will be in contact to confirm your place.
For event sponsorship details please contact:
Stewart Black: firstname.lastname@example.org Tel: 020-7940-1070