A herd of cranes are hammering at Manchester’s skyline, reinventing a city that has become known as the jewel in the Northern Powerhouse and the economic engine of the North West.
Jones Lang LaSalle has projected that Manchester house prices will grow by 4.5% per year for the next five years, while 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 by Deloitte, an unprecedented 6,963 residential units were under construction in 2016, exceeding the former record by 2,994 units, thanks in part to its first wave of PRS developments.
Manchester’s adopted Core Strategy plans for 3,700 new homes per annum and, although the number of units to be delivered in 2017 will constitute an annual shortfall of 1,042 units, a strong construction pipeline from 2018‐2020 and a further 14,000 units with planning consent will further support economic growth and could conceivably address the shortfall.
The strength of the residential market demand is underpinned by the city’s resilient economic growth, investment in infrastructure and employment sector diversification.
That’s why the WhatHouse? New Homes Debate, in partnership with Show House, is moving to Manchester in May.
The WhatHouse? New Homes Debate, to be held on 10 May, 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.
“After the huge success of our inaugural New Homes Debate held in London last autumn it was natural to move the conversation north and to Manchester – a city where residential development is fuelling the fastest growing economy outside the south-east,” said Rupert Bates, editorial director of WhatHouse.com and Show House. “It was also natural to again have William Hague, the former foreign secretary and leader of the Conservative Party, to chair the debate, ensuring challenging and stimulating discussions about the city and the region’s housing future.”
Tony Pidgley, chairman of the Berkeley Group, speaking after the London event, said, “William Hague was an excellent chairman. We need more debates like this; the opportunity for the industry to get its messages across.”
“We will be holding a second London debate in September. It is so important to get key leaders, influencers and stakeholders together to address specific regional issues, as well as wider national housing concerns. Manchester and London promise to be robust, confrontational and passionate debates,” added Bates.
Is this event for you?
This 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 email: Stewart Black: email@example.com Tel: 020-7940-1070