Over the last 10 years there have been significant changes to the social, cultural, digital and physical make up of Manchester which has laid the foundations for urban living in the city.
The largest numbers of new homes in Manchester have been built in the heart of the city centre in close proximity to all the transport links and, on the back of this, there is now a very strong buy-to-let market in the city. There has also been a plethora of new developments aimed specifically at students built close to the universities. These developments offer excellent quality, well managed accommodation that is in high demand.
Manchester is renowned for its rapidly growing, diverse and young population. Between 2001 and 2016, Manchester was actually the fastest growing city in the UK outside London which is testament to the dynamism in the city.
People are drawn to Manchester because of its jobs, housing costs and quality of life. Around 50,000 people live in the city and this figure is on the increase, creating a need for new housing and stimulating the buy-to-let market further.
There is a strong need in Manchester to create a good balance of residential property to reflect how the population is changing. Essentially there will be a need for family homes for people who have grown up or made their home in Manchester; older people who want to stay in the city; and houses/apartments to accommodate the younger working population.
It is this younger people in particular who are choosing to live and work in Manchester, especially in and around the city centre and it is this section of the population that is driving economic growth in the city. Going forwards, there will be a strong demand in Manchester for high quality, well designed and affordable properties and this needs to be met by housing developers and the build-to-let sector to keep the city the vibrant hub it needs to be.
If you’re interested in buy-to-let opportunities in Manchester and would like more details, please contact us now on 0333 3001 888.