New Manchester property

Manchester is the UK’s second largest economy outside of London. The thriving Northern city, often referred to as the Northern Powerhouse, is a high performing property market for property investors and a magnet for global talent and students, two demographics that are key drivers of the property and rental markets. Between 2021-2024 rents have grown by 50% (JLL) and the prime new build market is in high demand.

24.3% house price growth expected between 2023-2026 (Savills) outperforming all other regional markets.

Diverse economy with cross sector appeal the city is renowned for advanced manufacturing, finance and professional services, creative and media, and tech and digital industry. This mix of traditional and future-focused/innovative industries endows the city with a buoyant workforce, the reason why Manchester excels in retaining graduates, young talent and continues to attract the best of the global talent pool.

Manchester has a very proactive attitude to new development, having attracted huge investment from major UK and international developers in its key areas of city-centre regeneration. The Council is often a JV partner in its major areas of redevelopment ensuring accountability for all stakeholders – and a good quality of new build.

Manchester continues to remain affordable for those who wish to live in the city centre. Unlike in Central London where the majority of people have been priced out, living in Manchester city centre is a possibility for vast swathes of its workforce. This creates a thriving property market and one more insulated from national or international trends.

According to a 2024 report by JLL: “The rental market in the city remains strong, with the average rent of a new build apartment rising 9.4% over the past twelve months (cooling from annual growth of 12.2% in December 2023). Demand for two bed rental apartments appears strongest, with rent of average new build two bed apartments rising 12.5% annually, and prime two bed rentals rising 14.9%.”