According to right move Since the general Election there has been a 2.3% surge in the price of property coming to market, the biggest surge we have ever recorded at this time of year while increased optimism also releasing pent-up demand led to a very stable upward trend in the market.
Over 1.3 million buyers have enquired about properties since the election in December, an increase of 15% compared to last year, this is a strong indicator that an active spring market is ahead of us despite the fact that there has also been growth of 7.4% in number of agreed sales. Hence, Investors have become more committed after the election those acting fast enough were able to secure some very favourable deals. The report from Rightmove also suggests a great desire to get onto the property ladder as the number of first-time buyers have also increased to all time high.
Manchester, the fasted growing city in England has been a popular hotspot for property investors for the past few years and this trend should continue into 2020 and beyond. The number of people living in Manchester’s city centre has increased by 149% from 2002 to 2015. This boost in population is reflected in socio economic level of the inner city. The population grew by 84% and 27% more jobs was created between 1998 and 2015.
According to the State of the City Report in 2019 mentioned 50% more jobs are planned to be added to the city centre, with the overall population continuing to grow. All the above factors have been key stimulus for Manchester’s growth especially with the current lack of supply the property market in Manchester should keep on climbing.