WHY ARE MORE AND MORE PEOPLE MOVING TO MANCHESTER?
February 2, 2024
Manchester is the youngest city in the UK, a mecca for Millennials if you will, with an average age of 33 - the UK average age circles 40. Enjoying a media consensus (The Economist, Time Out, The Sunday Times) as one of the best places to live in the UK – if not the world! – and a city that has presently fallen under the intense gaze of property investors everywhere, we’re looking at what makes Manchester so magnificent.
IT'S AFFORDABLE!
Meaning, that you can live like you’re in London without feeling permanently broke. The ratio of average earnings to house prices in the city itself varies between 6-7.4 (it’s a little higher in Trafford) which means that unlike the majority of Londoners, for Mancs it’s possible to live very close to their places of work. Based on 2023, consumer prices are 32% cheaper than in London, so not only can you save money on your rent and commute, you’re saving money simply by living there.
Manchester average house price: £210,171
London average house price: £516,285
IT OFFERS A BETTER QUALITY OF LIFE.
Less time commuting means more time for living and feeling less like a cog in the machine of capitalism (we’re channelling Gen Z here). This is important. Younger generations prioritise their wellbeing more than their predecessors, or at least they’re more aware of it; what else is TikTok for? Manchester ranked the top location in the UK under the Global Liveability Survey which assessed 140 international cities on the provision of healthcare, education, culture and infrastructure.
Manchester average commute time: 29 mins
London average commute time: 49 mins
IT'S EXCITING.
From the warring Gallagher brothers to Mario Balotelli’s bad behaviour, there’s always something exciting emanating from Manchester. It’s not only the football clubs that are world famous, its nightlife, musicians, artists and more all attract global scrutiny…for a city with a population that only just tops half a million it certainly packs a punch. Only a few months ago in December 2023, Chanel ‘strutted into town’ and staged its annual catwalk show Métiers d’Art in the Northern Quarter (cementing its status as the coolest place in the city), whilst earlier in the year the media hailed the opening of Factory International as ‘the most significant UK cultural venue since Tate Modern.’ Even Gary Neville, seemingly now Mr Popular as everyone’s favourite pundit/player/person of note described the arts venue opening as a ‘once in a lifetime event.’ Further evidence of its cultural nous, The English National Opera will now be rehomed in Manchester (from London) and the city’s second arena, with investment from Manchester City and Harry Styles (!), Co-Op Live, will open this year. The 2024 Michelin star ceremony was also, you guessed it, held in Manchester in early February. The city is most definitely enjoying its moment.
Average cost of a night out in Manchester: £38
Average cost of a night out in London: £76
THERE ARE EXCELLENT JOB OPPORTUNITIES.
Manchester offers exciting career aspects for all walks of industry, and as you’ll see from the average salaries below, there isn’t a huge disparity in salaries from London, which again adds to its lure and affordability. In 2023 Bloomberg named Manchester as the best place for new jobs in England (beating London), thus crowning it as a post-pandemic labour hotspot. The data showed the Manchester had recorded a higher concentration of jobs advertised per 10,000 workers than London. Advanced Manufacturing, Creative and Media, Digital and Technology, Financial, Professional and Business Services and Net Zero make up a very attractive roster of key sectors.
Manchester average salary: £37,499
London average salary: £44,370
It seems the worker bee, the city’s emblem for over 150 years celebrating Manchester’s hard work ethic status as a hive of activity is once again, making honey.
BRAND NEW opportunity
ONE VICTORIA GREAT DUCIE STREET MANCHESTER
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SLOANE COURT JEWELLERY QUARTER BIRMINGHAM
PRICES FROM £197,500
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about the AUTHOR
Managing Director
GEORGE RADFORD
George is the co-founder of RPA Group and Managing Director of the business in the UK and Africa. A qualified Chartered Surveyor (MRICS) with almost 20 years of property investment experience, George has helped his clients to successfully grow and strengthen residential property portfolios over multiple markets and territories. Active in building and advising upon his client’s investments, George is now focusing on procuring UK investments exclusively for RPA Group clients and investors, providing insightful and strategic advice and opportunities