Property in Manchester

Property in Manchester

Manchester is the second largest urban area and the largest in north eastern England. It has a rich industrial heritage – having been the center of textile revolution in the industrial revolution and is now the third most visited city in the UK.

It is known for its architecture, culture, musical exports and sports clubs.
The city is bordered on the North and East by the Pennines mountains and on the south by the Cheshire plains. At only 35 miles from Liverpool and Sheffield, it is the middle point between the two cities.

Manchester’s climate is temperate oceanic with mild summers and cool winters. There is regular but light rainfall through the year. Demographically, it is the third fastest growing urban area in UK, and the largest outside of London. Manchester’s population is expected to reach 532,000 by 2021.

Manchester is well connected by Air, Rail and road links to rest of UK and abroad. The Manchester airport is the third busiest in all of UK. It was one of the first cities in UK to have a railway station at the time of industrial revolution and is now the center of an extensive countrywide railway network.

Within the city, local transport facilities are excellent. Manchester was the first city in UK to get a modern light rail tram system in 1992 and has one of the most extensive bus networks outside of London. More than 50 bus companies operate in the greater Manchester area. It is the dominant form of transport with 80% of commuter journeys completed via bus transport on 2015.

Culturally, Manchester is hub of UK’s music scene. Popular music groups originating from Manchester include The Smiths, Buzzcocks, Oasis, Doves and Take that. The main pop music venue of the city is the Manchester arena which seats 21,000 people. The city also is home a thriving theatre, opera and dance scene.

Property values in Manchester have seen strong growth over the last few years, driven by new companies setting up shop in Manchester. There is also a lot of political interest in Manchester emerging as a Northern powerhouse in England over the next few years. Both these developments, along with a proposed high speed rail link with the neighbouring cities have ensured that growth in

Manchester’s housing prices are expected to outstrip London over the next five years. If you are looking for a home within a budget, for £250,000, you can still purchase a large semi detached home less than two kilometres from central Manchester. Double your budget to £500,000 and you will get a recently constructed three bedroom apartment in the city centre. Go all the way up to £ 2 Mn to get a large detached six bedroom house with more than two acres of land in South Manchester.

Since Manchester tops the table when it comes to rental returns, it is one of the few cities where buying instead of renting makes immediate sense. If you can raise a 10 percent deposit, the monthly cost of buying would actually be cheaper than renting.