Is it too late to invest in Manchester?
Manchester has been one of the fastest growing cities in the country in the last decade. It has been voted as the third best city in the world last year in 2021 by Time Out.
There is no secret that the property markets in the city have benefited from the economic activities, especially since the HS2 has been given the green light. High Speed Rail 2 will reduce the commuting times by half between London, Birmingham and Manchester. Manchester’s HS2 station is due to open by 2040. This means circa 20 more years of inward investments for Manchester which keep the city a key target for many investors for the years to come. In the last five years Manchester property markets have experienced consistent growth and some areas are now fully gentrified. This raises the barriers to entry for many owners’ occupiers which limits capital growth potential.
In the last 12 months property prices in Manchester on average have increased close to 10% in value. Many homeowners and investors choose up and coming areas with high rental demand with close proximity to employment hubs and major infrastructure projects. According to Zoopla property prices will continue to increase in UK’s major cities such as Manchester and Birmingham due to the ongoing supply shortage in these cities