UK Property Market : Manchester continues to lead the way for property investment purchasers.
According to JLL, Manchester is leading the 5-year rental growth forecasts in the UK with projected growth of 21.6%. On top of this, according to the city’s 5-year sales forecast, the value of a property purchased today would appreciate by 19.3% by 2027.
Rightmove recently reported that rental enquiries have more than tripled since May 2019.
The North West (Manchester’s region) is seeing the highest number of rental enquiries, going from an average of just 7 per property in 2019, to 30 in 2023.
For prime developments in the city demand is even greater. The strong job market, vibrant food, drink, arts and culture scene is attracting global attention.
The London “influence” on the city is growing as the city centre expands. High profile restaurants including the recently launched Fenix and the renowned 20 Stories are signs that the city continues to make significant strides.
All this making Manchester one of the strongest investment cases as we head into 2024.