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Alliance December Construction Update

Mallam Grant
Ginny Wai 2
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The latest UK Cities House Price Index from Hometrack shows that overall demand at the end of 2020 was 33% higher than it was at the same time in 2019.

When looking at the year as a whole, demand for homes in the UK saw a 40% annual increase in 2020.

House price growth is just as strong, according to the same Index. National property value inflation reached an average of 3.9% over the year, with various cities exceeding even that. Naturally, Manchester was one such city, with annual house price growth being recorded at 5.9% - demonstrating strength on its own terms, and also when compared to London which saw growth of just 2.8% over the same time period.

The latest UK Cities House Price Index

The latest UK Cities House Price Index from Hometrack shows that overall demand at the end of 2020 was 33% higher than it was at the same time in 2019. When looking at the year as a whole, demand for homes in the UK saw a 40% annual increase in 2020.

House price growth is just as strong, according to the same Index. National property value inflation reached an average of 3.9% over the year, with various cities exceeding even that. Naturally, Manchester was one such city, with annual house price growth being recorded at 5.9% - demonstrating strength on its own terms, and also when compared to London which saw growth of just 2.8% over the same time period.

Thousands of apartments are either scheduled to be completed in 2021

We have previously reported that house price growth in Manchester is twice that seen in London, but it seems that gap continues to widen over time. Furthermore, the sheer amount of property development either underway or in the pipeline in Manchester ensures that this is no short-term trend - we can expect to see house price growth in Manchester far exceed that found in other cities. This is particularly the case in up and coming city centre areas such as Piccadilly which are seeing huge regeneration schemes begin to bear fruit.

Thousands of apartments are either scheduled to be completed in 2021, or their construction programmes will begin. As noted by the Manchester Evening News, most of these will be in the highest demand areas - something which will further push prices up, increasing capital gains for anyone buying off-plan property in Manchester.

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Mallam Grant
Ginny Wai 2
Conor Armstrong
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