Manchester, the largest and fastest growing economy after London

Manchester has the highest rise in housing price growth and rental growth, in comparison to any other city in the UK, according to a recent report by Cushman & Wakefield. Some of their other key findings are that:

-After London, Manchester is experiencing one of the fastest growing economies, is one of the most dynamic cities in Europe to live and work

-The forecast for the housing market shows a rise in house prices in the city of 57% by 2028.

-There is a 16% difference between the average price of an existing home and a new home in the city. Unlike other UK cities as Newcastle, where new homes could cost roughly 50% more than the existing ones.

-The city is one of the best in Europe to do business in. Some major corporations have key operations within Manchester: Co-operative Group, Amazon, Royal Bank of Scotland, BBC and ITV. In addition, a combination of new startups and small independent businesses are creating new jobs.

-The rental market also has had the highest increase of any UK city. In April, rent was up to 10%, Leeds 8% and a fallen by -8% for London and -9.5% Newcastle.

-A considerable amount of the City’s students decide to stay after graduation. Manchester maintains the second highest retention in graduates after London, 50% of Manchester’s graduates stay in the city for work and many others that study in other locations return after graduation, according to the Higher Education Statistics Agency.

To review the full report enter here.

31/10/2018

Categories: Industry