Manchester property prices rose by 8.9% in 2016, the second fastest rate of growth in the UK. An undersupply of homes has led to home price inflation hitting its highest rate in 12 years, marking Manchester out as an excellent investment hotspot. Apartment prices have risen by 25.88% over the past five years. However, the average apartment costs just over a third of the price of a London apartment, providing investors with a low entry point into a market packed with potential.
Rental property in Manchester is in such demand that the city is one of the top property investment hotspots in the UK. Home price inflation is at its highest rate for 12 years due to an under-supply of homes. Manchester apartment prices have risen by 25.88% over the past five years and over the coming five years, home prices are projected to grow by 26.4%.
Manchester’s rapid growth since the millennium means that its metropolitan economy is now the second biggest in England. That growth has been so rapid that, in 2015, the Manchester Evening News reported that the city was growing faster than Paris, Tokyo and Dubai. Manchester’s skyline is awash with cranes as its economy goes from strength to strength.
For more information on our developments and the investment case for Manchester, please contact the team at Surrenden Invest today.