Manchester is undergoing a building boom with more than 11,000 new homes under construction.
Following it’s annual crane survey, professional services network, Deloitte said that with a strong investor confidence, a thriving business community and a growing number of young professionals, demand for homes has never been stronger.
Manchester’s property market is the third most valuable in the country with a housing market worth a total of £133bn.
The city also has the largest student population in the UK with more than 105,000 students per year and the highest graduate retention rate with 50% of graduates staying back in the city.
Overseas buyers continue to show interest in Manchester city centre and have driven a large number of off plan sales over the last year.
Foreign investment into the UK’s property market is often driven by the security, stability and transparency of Britain’s political and economic environment. However, the local driver of investment in Manchester’s property market is the city’s strong residential rent and house price growth.
Ronald Garrett, director of sales at Alliance Investments said: “A number of investors are turning away from London and moving their capital up north, due to the difference in residential values between Manchester and London. Lower average prices in Manchester mean lower stamp duty charges and increased buying power for anyone looking to set up home or become a landlord”
Alliance Group, Manchester’s leading developer with a 28-year track record has firmly established themselves in the country’s rapidly growing buy to let market. With offices in Manchester and London, their property portfolio includes the majority of sectors including residential, offices, industrial, leisure and retail developments throughout UK’s cities and regions.
With a large number of residential and luxury off plan properties in the pipeline, Alliance is keen to bridge the gap between increasing demand and the acute lack of supply in a market that promises lucrative returns on capital growth and rental yields.
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