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Manchester spotlight – capital of the Northern Powerhouse

Right now, Manchester has the fastest house price growth than any other UK city ‒ rising 8.8% across the last 12 months ‒ and demand for housing in the city is only going to increase as the population grows.

 

Richard Forman, Head of Sales and Marketing

The city centre is buzzing with activity as more and more skyscrapers creep into the Mancunian skyline. It’s fair to say that over the next few years Manchester’s architecture could rival that of established metropolises like London and New York.

This week, Delph is launching The Hallmark, our first development in Manchester. When we partnered with Fortis Developments to build the scheme for us last year we were confident that the city was going to be the next big investment hotspot, and having seen first-hand how quickly the city is growing, we couldn’t be happier.

Manchester Growth Fact File by Delph Property Group

Why are Manchester’s house prices rising so quickly?

As the capital of the Northern Powerhouse, Manchester has received considerable inward investment that has fueled economic growth. Irwin Mitchell’s UK Powerhouse report announced that, in this quarter alone, employment has risen by 1.7% and JLL predicts that property growth in Manchester will rise by 28.8% between 2017 and 2021.

Whilst this growth is impressive, the Manchester housing market has struggled to keep up with the increase in young skilled professionals and the demand for high quality flats in the city centre has never been higher. New-build developments will prove profitable quickly as the population is currently growing 15 times faster than properties are being built.

How to take advantage of this new demand for rented accommodation

Manchester’s economy is only going to get bigger, stronger and more diverse, and property prices will certainly rise in line with this trajectory. So if you are looking to invest and want to make the most of low rates, capital growth and rental yield in this skyrocketing market, you should act now.


Get in touch if you have any questions or would like to meet up to discuss your project.

Richard Forman, Head of Sales and Marketing

Richard_Forman DelphPropertyGroup


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