17 Jan 17.01.2019 Manchester – UK’s top city for investment
17.01.2019 Manchester – UK’s top city for investment
According to the findings of the latest research conducted by the EY, over the next three years, between now and 2021, the UK’s strongest economic growth will be recorded in Manchester.
The research showed that Manchester’s annual employment growth rate was recorded at 1.2%. This means that over 16,000 new jobs will be created in Manchester annually over the next three years.
According to the research, the fastest employment growth over the next three years will be recorded in Manchester and its gross value added (GVA) if expected to be just 0.1% less than Readings GVA, the projected UK leader.
Bob Ward, the North West Senior Partner at EY, stated: “Manchester’s success is much lauded and rightly so – that the city is once again leading the UK with comparatively strong employment and GVA figures is of course great news.”
These projections continue Manchester’s recent track record of growth, a key driver behind the performance of the city’s property sector.
The property prices and rent is expected to grow and it is anticipated to be 81% and 40% higher than the UK average respectively in the next three years. Increasing amount of available jobs will place further pressure on Manchester’s property market of low supply. It’s estimated that Manchester’s residential housing delivery will meet just 25% of annual demand by 2022.
Manchester is now a major hub of international property investment and it is just at the begging of its growth cycle. Investors from all over the world are keen to acquire prime real estate in Manchester.
If you are looking to acquire property in Manchester please call us today on +44 207 129 129 6.