For all the talk about London property, in 2018, the Manchester and Greater Manchester property market has a lot going for it. With key factors like a rise in population, an increase in employment levels, rental price gains and a strong housing market, Manchester is at the heart of the UK property market. The most important thing is that many property specialists and experts predict that Manchester will remain at the heart of the UK market for years to come, with the city and surrounding towns thriving for several years.
While there has been focus on the increasing number of people who call Manchester City centre their home, from 10,000 people back in 2000 to over 50,000 as of 2018, there are more people looking to set up home on the outskirts. The demand for city centre living will increase, there are suggestions that the Manchester city centre population could reach 80,000 by 2024 but Stockport, which is undergoing significant development, is a great option for people looking to be close to the heart of Manchester but far enough removed to enjoy life.
City centre living isn’t for everyone
For every person that thrives on being found in the heart of a big city and having an overwhelming array of option on their doorstep, there are just as many, if not more, people who prefer something slightly quieter. Stockport has a lot to offer, and you will not struggle to enjoy a night out or two but knowing that you are removed from city centre living is a comfort for many people. However, the fact that Manchester city centre is rising is good news for Greater Manchester and the property market in surrounding towns will see a benefit.
The increase in student population is a hugely crucial factor in the rise of Manchester’s population. Yes, there is an argument why the city centre appeals to the student market but all along the corridor between Manchester city centre and Stockport are student-friendly locations. The train connection from the heart of Manchester to Stockport is popular and convenient. With easy travel connections in and around the city, including a dependable tram service, it is easy to join up journeys and get to where you need to be without wasting much time.
Student population increases demand
In the four central universities of Manchester, there is more than 100,000 while within one hour’s drive of Manchester, there is close to 350,000 students. Even landlords who would prefer to not let to students find that the high volume of graduates moving into the world of work provides a strong reason to invest in property in and around Manchester.
At Spencer Harvey, we care about the local community and we are delighted to see so many changes and development taking place in the town. If you want to stay informed with what is happening here, you can give Spencer Harvey a call on 0161 480 8888 or send us an email at info@spencerharvey.co.uk. For a free valuation please visit: https://www.spencerharvey.co.uk/valuations