Manchester Surpasses London as the Top Hotspot for Property Investment

In a surprising shift within the UK's property investment landscape, Manchester has surpassed London as the most sought-after city for property investments in England. This revelation, highlighted in Colliers’ UK residential investment cities report for the first half of 2024, positions Manchester as a prominent player, ranking third overall in the UK, trailing only Edinburgh and Glasgow.

Key Takeaways:

• Economic Boom: Manchester's economy is thriving, attracting major corporations and driving housing demand.
• House Price Growth: The city has witnessed a remarkable house price increase of 33% over the past five years.
• Strategic Development: The availability of grey belt land supports sustainable urban expansion.
• Investment Potential: Manchester offers lower price barriers and strong tenant demand compared to London.

Manchester's Economic Surge

Manchester's rise as a property investment hotspot is rooted in its impressive economic transformation. Over recent years, the city has welcomed numerous large corporations and government bodies relocating their headquarters to the area. Consequently, this influx has stimulated demand for housing, leading to significant house price growth. According to Andrew White, head of UK residential and international properties at Colliers, Manchester's redevelopment across various housing tenures has propelled it to the forefront of property investment opportunities.

The city's economic and residential growth underscores the need for strategic expansion to accommodate the increasing housing demand. As Manchester continues to attract investment and experience population growth, the availability of grey belt land for development will support sustainable urban expansion. This strategic foresight ensures that Manchester remains an attractive option for both investors and residents.

A Track Record of Stability

City AM, in their article "Are you really better off investing in Manchester property over London?" highlighted that Manchester is an excellent investment location due to its robust reputation and historical stability. From 2010 to 2020, Manchester's economy grew by 39%, outpacing the national average, with GDP rising from £53.89 billion to £74.85 billion. Significant regeneration projects are underway, including NOMA, a 20-acre mixed-use development, and various build-to-rent and single-family housing projects in the suburbs. Furthermore, upcoming developments like the Bee Network transport system and Atom Valley, an advanced manufacturing hub, promise to create 20,000 jobs across Bury, Rochdale, and Oldham. Since 2018, Manchester has completed 27 towers, with 20 more under construction and around 50 in the planning stages.

A Rich Talent Pool and Investment Opportunities

Rupert Aslett, co-founder of Rothmore Property, emphasises Manchester's "rich talent pool for recruitment and development." This wealth of talent translates to strong tenant demand and lower price barriers for buy-to-let investments, making Manchester a compelling alternative to the capital. Investors benefit from a dynamic market that offers both affordability and potential for high returns.

Manchester's property market is further bolstered by its house price growth, which has outpaced the national average. Over the past five years, house prices have surged by 33%, a testament to the city's evolving appeal. This price growth, coupled with Manchester's vibrant cultural scene, excellent transport links, and thriving business environment, cements its status as a top property investment destination.

How Rothmore Property Can Assist

Rothmore Property stands ready to guide investors through the opportunities presented by Manchester's property market. With a deep understanding of the local landscape and a commitment to client-centric service, Rothmore specialises in identifying and securing ideal properties and investments across key UK locations. By partnering with top developers and offering comprehensive support throughout the buying process, Rothmore ensures a seamless and rewarding investment experience.

Whether you're looking to expand your property portfolio or make your first investment, Rothmore's expertise and tailored solutions can help you navigate Manchester’s dynamic market with confidence.In conclusion, Manchester's emergence as the leading property investment hotspot in England marks a significant shift in the UK's real estate landscape. With its robust economic growth, strategic development opportunities, and compelling investment potential, Manchester offers a promising alternative to traditional investment hubs. As the city continues to evolve, investors stand to benefit from its dynamic market conditions and the strategic insight provided by experts like Rothmore Property.