INVEST IN
MANCHESTER
INTRODUCING
MANCHESTER Manchester is in the North-West of England and is considered by many to be the UK’s second city behind the capital, London. It is a city of national cultural and economic importance. The city is the heart of the Greater Manchester region which is bordered by the Peak District to the East and the Liverpool City Region to the West.
Population
Manchester
Manchester 530,000 Between 2004 and 2014, Manchester Local Authority saw its population grow by 16.9% - almost double the UK average of 7.8%.The population of the city is expected to grow to 600,000 by 2030 (Greater Manchester Property Investment Guide 2016).
Student Population University of Manchester – 39,700 Manchester Metropolitan University – 32,485
Manchester University boasts the largest single site university in the UK, with the biggest student community. The University is ranked 41st in the world, 8th in Europe and 5th in the UK and has been home to 25 Nobel Prize winners to date.
26.4% Predicted house price growth in Manchester in the next 5 years. (JLL, 2017)
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Infrastructure Manchester was the European City of Science for 2016, reflecting its history as being the crucible of the industrial revolution and the city which split the atom, created the programmable computer, birthed the world’s first “test tube baby” and isolated Graphene, among many other achievements.
Manchester’s transportation network is vast and varied, fully integrated and efficient. •
Manchester Airport – The busiest airport in the UK outside of London. Flights go to destinations around the world from California to China. £1bn is being invested in the Airport over the coming years, further solidifying Manchester’s status as a business and tourist hub.
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Metrolink – The tram system is the UK’s largest tram network and is set to improve further in the near future with the completion of the St. Peter’s Square works and the Trafford Park Line extension, the latter of which will provide direct access to Port Salford.
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Road network – Major roads and motorways give residents of Manchester access to all major cities in the UK, North and South.
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Rail network – Manchester has a comprehensive rail network which runs locally, regionally, and nationally (Manchester is a two hour train journey away from London).
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Cycling – The ‘Better By Cycle’ project includes joining up cycle routes, making them safer and getting more people cycling. This project is expected to be completed in 2017 and the overall aim is to ensure 10% of all journeys in Manchester are made on bicycles by 2025. The Mobike cycle share scheme has also been launched in the city.
(University of Manchester, 2017)
3rd Manchester is the UK’s third most popular tourist city in the UK after London and Edinburgh. (Manchester Evening News, 2017)
In addition, the following are also either confirmed or possible at some point in the future: •
Ordsall Chord – A small addition to the Manchester innercity rail network which will remove a bottleneck through the city and allow trains from the Airport and Liverpool to travel through the city without stopping.
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HS2 – Faster journeys to London and Birmingham. There has also been talk of folding this into the ongoing expansion of Piccadilly Station, however this has met with serious opposition and is in no way a done deal. For one the University of Manchester has objected very strongly due to the ongoing noise issues it would cause as well as the vibrations from heavy construction work disturbing some extremely delicate equipment on campus.
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HS3 & electrification of the TransPennine and Manchester- Liverpool lines – Faster and more efficient transport across the North to connect the centres of all the regions, from Manchester and Liverpool, through Leeds and Sheffield across to the Humber and further North to Sunderland and Newcastle.
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Smart Motorway – The M62 to Leeds is set to become a fully ‘smart’ motorway over the next decade, reducing travel time between two Northern economic powerhouses and making the journey more amenable to commuters.
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Housing The average price of a property in Manchester is £181,707. This average price represents an 11% increase over 2016 and a 19% increase over the pre-financial crash value in 2007. This also compares favourably to average house prices across the whole North West. JLL predict that house prices in Manchester will continue to rise by over 5% a year (over 20% by 2020) and this is borne out by the continuing imbalance between supply and demand in the city, combined with its growing stature as one of the best places for young people to live. Hundreds of dwellings are built in Manchester every year but the rate at which developments are completed is not close to the level required – estimated to be at least 3500 new homes a year. The average rent in Manchester is rising in line with the property market and the average yield for a BTL landlord in the city is circa 6% per year. In addition to all the private developers, such as Knight Knox, building new dwellings, it is worth bearing in mind other sources of funding such as the Greater Manchester Housing Fund - £300m earmarked to get difficult or underfunded schemes off the ground instead of letting them fail.
14th Manchester is the 14th most sustainable city in the world, based on measures in people, power and profits (Arcadis Sustainable Cities Index, 2017)
Manchester is one of the fastest growing cities outside of London both in terms of population and economy. The movement of people from London to Manchester is now a recognised long term trend.
Employment Manchester is going from strength to strength in terms of employment. Massive investment in the city from home (the Government) and abroad (China, for one) as well as the continued growth of the city as one of the UK’s foremost technology, media and communications hubs ensures that jobs continue pouring in. Manchester's employment levels are predicted to grow by 22,000 by the end of 2017. According to Manchester Evening News, Manchester is set to outperform world-class cities such as Berlin, Tokyo and Paris for employment growth in the years leading up to 2020.
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Contact us Whether you are looking for a high-yielding investment property or would like to enquire about becoming part of our extensive Agents Network, please contact us to set up a meeting to further discuss your requirements and determine how Knight Knox can best help you. Get in touch Address: Knight Knox, Quay West at MediaCityUK, Trafford Wharf Road, Manchester M17 1HH Tel: +44 (0)161 772 1370 Fax: +44 (0)161 241 5360 Email: info@knightknox.com Find us online Website: www.knightknox.com
The content contained within is correct at the time of publishing (July 2017).