With a growing economy, the city is set to continue outperforming national performance forecasts over the next decade.
- Real estate growth in Manchester consistently outstrips average forecasts for the UK property market
- Property prices in the city grew by 34% in the three years to July 2017, against the national average of 30%
- Manchester’s vibrant economy and proliferation of FTSE 100 companies cited as a driver of economic development and increasing investment levels
It confirms what a rising number of international investors are already aware of, but new research has found that property growth in Manchester consistently outperforms UK averages.
The report from Cushman & Wakefield reveals that, in the three years to July 2017, property prices in Manchester increased 34% while, nationally, the average stood at just 30%.
Annual returns of between 11% and 20% have also been recorded in both Manchester and the neighbouring borough of Salford during this time.
Looking ahead, the report predicts property prices and yields in Manchester will continue to outperform the national average over the next decade.
Commenting on the findings Julian Cotton, Associate Director at Cushman & Wakefield, noted: “Manchester benefits from a particularly active investor market, with over 52% of the entire housing stock lying in the private rented sector.”
Manchester’s “vibrant and varied” workforce was cited by the report as a key driver of economic growth in the city. So too was the number of FTSE 100 listed companies operating in the area, with firms in the financial services and technology industries key sources of employment for people living in the region.
With its population also forecast to rise faster than the national average in the coming years, the report summarised that Manchester offers a fantastic range of opportunities for investors, ‘particularly for those who are considering their options outside of London’.