Economic growth in Manchester
Manchester is a ‘beta world city’ and the UK’s second city, recognisable for its architecture, culture, musical exports, media links, scientific and engineering output, social impact, sports clubs and transport connections.
According to Avison Young, economic growth in Manchester last year was the second highest of thirty European cities. The post-covid recovery has strengthened employment market and the housing sector. Capital growth in Manchester outpaced the rest of the country on a yearly basis for the past decade.
Known as one of the best tech cities in Europe, it excels in a wide array of sectors, including life sciences, cyber-security, FinTech, healthcare, and manufacturing.
MediaCityUK, in particular, has had a huge impact on the city’s digital and creative scene. The city also has the second highest student retention rate after London with around 45% of population aged under 35. The city’s infrastructure has considerably improved due to multi-billion-pound regeneration projects.
Manchester still has a vast potential for capital growth and if you are planning to take advantage of this you should thoroughly pick your microclimate to ensure you’re entering a suitable gentrification cycle not too late or too early.