According to the latest city report by Manchester City Council, Manchester is outperforming many other leading European cities and has one of the UK’s fastest growing economies.
Robust growth of the city’s economy is underpinning the demand for property across Manchester with rental yields and capital growth among the highest in the UK, which has also attracted many international investments. For instance, one of China’s leading property portal Juwai.com has recently reported that property enquiries about Manchester had risen by 200% in August 2018 compared with August 2017.
Population of young generation has increased to 572,000 compared to 539,000 in 2015, which has boosted the demand for rental properties.
Significantly, the surge in the City’s millennial demographic has seen number of enterprises who have chosen the city to base their business activities increasing by 18 % since 2015-2016 which is currently running at 3 times the national average of 6%.
The thriving tech, media, cultural and innovative sectors offering fantastic job opportunities and attracting many graduates. Currently about 40% of the city’s population is made up of graduates.
Sir Richard Leese, leader of Manchester City Council said “Such is the popularity of this northern metropolis that 36 % of graduates choose to return home after finishing their degrees elsewhere; 69% of graduates from universities in Manchester decide to stay in the city and take advantage of the career prospects.”
Manchester remains one of the UK’s top cities to live in and this can be seen as more people choose the city as their home, and more graduates going to stay there after finishing their studies.