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Mayor Andy Burnham is great news for the Manchester property market

By Surrenden Invest | May 20, 2017

In 4th May 2017, Andy Burnham was elected the first metro mayor of Greater Manchester. He received strong support from the Greater Manchester Combined Authority, winning 63 per cent of the vote. He is now the leader of the devolved city region, and therefore responsible for housing, strategic planning, and transport.

Andy Burnham’s position as Mayor of Greater Manchester will see him become a key figurehead for a major city in the Northern Powerhouse. He will lead a cabinet of 10 council leaders who will be tasked with steering the city towards new growth, while also providing Greater Manchester with a stronger voice on the national political stage. He will also act as ambassador for international trade relations. At a time when house building is high on the political agenda, we can expect some exciting changes in the forthcoming years.

A New Planning Framework

Andy Burnham is now responsible for creating a new property development strategy, also known as a spatial framework, to meet Manchester’s growing housing needs. As a devolved city, he will have greater planning freedoms which will aid investment and development across Greater Manchester, although the city’s 10 council leaders will all need to also approve recommendations.

More New Housing On The Horizon

In addition to steering housing policy in the region, the new mayor will also have the power to purchase areas of land for urban regeneration and development. Again, council leaders will need to be in agreement. Planning approval for development should therefore be easier achieve, along with reduced timescales.

More Control Over Funding For Transport Infrastructure

Andy Burnham will be responsible for managing the Government fund allocated to the development of new transport infrastructure over the next 30 years, which means his team will chose how Manchester’s transport network will evolve. Options include extending the Metrolink, improving the bus network and the creation of new rail stations, to improve connections between central Manchester and the cities of Greater Manchester. These changes and improvements will aid the economic growth of the region.
Greater Manchester, with Andy Burnham as metro mayor, will now have far more control over how funding is used, and who invests in major developments. The mayor will also manage specific investment for Greater Manchester’s metropolitan boroughs to ensure that the whole region benefits from inward investment. This will make the region more appealing internationally, which is good news for property investment.
We can expect Manchester’s property industry to receive more inward investment, which will boost the development of the city. Greater Manchester’s economic growth and property expansion looks to be in good hands.

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