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PropertyPrices from £128,495
2018Rental Yields10.1%
2018Price Growth6.2%
2002 – 2015Population Growth149%
Boosted by a graduate retention rate of 50%, the highest levels of job creation in the country and a recent £1bn investment from the UK Government, Manchester is a city on the rise.
In recent years, £3.5bn has been spent on making the city the second-largest creative hub in Europe. The hub includes Media City in Salford, home to the likes of BBC, ITV, Ericsson and Kellogg’s. Manchester will also be a major beneficiary of HS2 – the planned high-speed train service that will reduce journey times between Manchester and London to just 1 hour and 8 minutes.
Property prices are projected to grow 22.8% by 2022 – compared with 12.6% across the UK – while rents are expected to increase by 3.5% per annum between now and 2020. Despite its rapid growth, the average house price in Manchester is currently well below the national average, making it a highly attractive prospect for private investors.
Sources: Hometrack.com; TotallyMoney.com; Centre for Cities.
