New homes, more jobs and better connections are all within reach as the latest transport funding announcement for Stockport unlocks opportunities.
A huge transport deal for Greater Manchester has brought Stockport’s dream of a Metrolink extension one step closer, with Mayor Andy Burnham labelling the government’s funding promise “game-changing” for the area.
The promised £2.5bn will accelerate the delivery of the next phase of the Bee Network, which will become the UK’s first fully electric, zero-emission integrated public transport system by 2030.
Burnham has been vocal about his plans to bring Manchester’s Metrolink network out to Stockport in the past, and the new funding round should now ensure that this can happen, with the cash expected to come out in 2027 and 2032.
The transport funding announcement came from Chancellor Rachel Reeves, who revealed that a total of £15.6bn of funding was being allocated to local transport projects in England’s city regions – predominantly in the North, Midlands and South West.
Transport upgrades spurring on investment
Aside from the promised tram extension to Stockport, the cash is set to provide 1,000 more electric buses for Greater Manchester, along with several new tram stops elsewhere, and new interchanges to update the current transport options.
The new stops along existing tram lines include Sandhills in North Manchester, Elton Reservoir in Bury, and Cop Road in Oldham; while the new interchanges are planned for the city centre and Leigh.
Integration with the Bee Network will be key, enhancing travel for people right across the city region and opening up new opportunities for businesses and investment into Greater Manchester.
Burnham commented: “This is a game-changing moment that will underpin Greater Manchester’s green growth for years to come.”
Henri Murison, Chief Executive of the Northern Powerhouse Partnership, said: “This government’s decision to back major local transport projects with serious, long-term investment will be critical to driving regional growth.
“The economic revival of Greater Manchester, enabled by sustained investment in the tram network in particular, has already begun to close the productivity gap with London. To build on that success and replicate it across all our regions in the North, we need to see key projects delivered – including the extension of the Metro to Washington, the replacement of the Sheffield tram fleet, and the extension of Metrolink to Stockport.”
Stockport property boom continues
After the funding announcement, council leader Cllr Mark Roberts described Stockport as the “fastest-growing town in Greater Manchester”, noting that the £2.5bn commitment sends a “powerful signal that investment is following ambition”.
He added: “We’ve already delivered the award-winning, Metrolink-ready Stockport Interchange and the UK’s largest town centre regeneration — now, we’re ready to roll up our sleeves and get on site to deliver Metrolink.”
Over the past couple of years, Stockport has become a favourite among property investors thanks to the huge level of redevelopment and investment taking place in the town, and the latest government cash injection is set to accelerate this even further.
The town’s property market was listed as the fastest-moving in the North West in analysis from Zoopla as buyer appetite in Stockport has surged. Meanwhile, the rental market there has also become one of the strongest in the UK as a growing number of tenants choose Stockport as the ideal commuter location from Manchester.
Property prices in the town remain below those of neighbouring Manchester, making it a strong option for property investors seeking good value opportunities with plenty of room for capital growth.
The ‘regeneration effect’ is plain to see, with huge growth in the number of new businesses moving to the area, which is boosting the jobs market and enhancing the appeal of living in Stockport.
If you’re looking for a property investment opportunity in Stockport to capitalise on Greater Manchester’s growth plans, get in touch with BuyAssociation today to find out about our current projects.
