MANCHEsTER

 A roundup of
Manchester Property Market 

at a glance

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EMPLOyMeNT

Manchester has always been a place where everyone has equal opportunities and life chances, with the instruments to lead a safe, healthy, happy, and fulfilling life, no matter where they are from or where they live. Even as the impact of the pandemic affected the growth prospects of different sectors in differing ways throughout 2020, Manchester is starting to revive itself back with a 3.9% increase in the employment rate in 2021.

Our Manchester Strategy entails that Manchester must build towards a more inclusive economy, ensuring that every resident benefits from high-quality jobs with fair pay, inclusive conditions, and opportunities for progression. This has already started to reflect with the 4.7% increase in a number of residents with higher-level qualifications since early 2021.

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Source: Manchester.gov.uk - State of the City Report 2021

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Manchester’s rapid growth in its population, boosted by a strong economy and the new high-quality accommodation availability around the city center, resumed back in late 2021. With more than a 1.1% increase in population in the last 10 years, Manchester has attracted residents and international talent because of rapidly growing employment opportunities and booming economy.

POPULATION

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627,000 residents expected by 2025

The younger resident population consists of a large student population and young workers living in the city. There’s an equal proportion of residents aged 25–29 to those aged 20–24 due to an increased number of graduates staying in the city after graduating and taking advantage of the attractive new accommodation offers and prospering career opportunities.

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ECONOMY

& LIVING

Manchester’s recent history has seen significant economic success and diversification uplifted by internationally renowned sectoral strengths attracting many businesses and local and international talent to the city.

According to Oxford Economics, Manchester will see the highest rate of economic growth compared to all the major UK cities over the next 5 years with a 16.4% GVA growth.

The diverse and attractive tourism in Manchester was highly affected by COVID-19 in 2020 and 2021. With the latest government policies and plans in place, pent-up demand for tourism in the coming years to engage with Manchester is expected especially with upcoming projects like RHC Bridgewater and Therme Manchester

With the right policies and plans in place for opening businesses, developing sustainable and innovative infrastructure, providing easy access to growth opportunities to resident and attracting tourism, Manchester can achieve its strategic goal of becoming a thriving and sustainable world-class city by 2025.

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Manchester-

a new horizon

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Property market

Manchester continues to deliver increased numbers of new homes for its residents. In 2020-21, 4,260 new homes were built in the city, including 3,187 located in the city centre and 1,073 spread across the rest of the city. There has been ~1.5% Residential Growth in the last two years.

The rapidly growing technology sectors, economic powerhouses, and city development are expected to drive house prices and rentals over the next 5 years. Many cities will bounce back more resiliently in terms of price and rental growth than rural areas as people continue to have renewed expectations to go back to ‘normal life. This boost will specifically be felt during 2022-2023.
 

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Manchester is the 3rd world’s greatest urban hub according to Time Out Global Survey 2021. Manchester has shown over and over again that it sure is a resilient place.

 

A growing, entrepreneurial, and a great place to live, work and visit, Manchester has an above-national-average proportion of its residents having high-level qualifications due to graduation retention in the city. This continues to bring more opportunities for Manchester to fulfill its Our Manchester Strategy; an inclusive, sustainable, affordable, and world-class city.

 

All things considered; Manchester has especially thrived over the past. With its never-ending, innovative, and sustainable growth plans, it seems evident that a city like Manchester has a new horizon ahead of it.

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FEATURED PROJECT

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Find more international properties that suit you best here.

FAQ's

  • Will house prices continue to rise in Manchester?

The rapidly growing technology sectors, economic powerhouses, and city development are expected to drive house prices

and rentals over the next 5 years.

  • Can foreigners buy property in the UK without a visa?

There are no legal restrictions on foreigners buying property in the UK. Foreigners and non-residents can also get a mortgage in the UK. However, those with <2years of residency in the UK and without a job may encounter strict requirements and higher deposits.

 

  • What is the average house price in Manchester?

The average house price in Manchester borough ranged between £245,000 - 250,000 in 2021.

  • How does One Global Property Services help me to invest?

The solutions we offer are always bespoke. Whether you're an individual looking for the perfect home tenant, or an investor or corporation looking to develop a property portfolio, you will enjoy advice and services that are second-to-none.

For in-depth details about our properties, investment picks and more, head over to our resource hub.

Let us guide you on What's Next?

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