{"id":1291,"date":"2016-10-04T07:00:34","date_gmt":"2016-10-04T06:00:34","guid":{"rendered":"https:\/\/www.buyassociation.co.uk\/?p=1291"},"modified":"2023-09-26T14:10:08","modified_gmt":"2023-09-26T13:10:08","slug":"manchester-rental-property-shortage","status":"publish","type":"post","link":"https:\/\/www.buyassociationgroup.com\/en-gb\/2016\/10\/04\/manchester-rental-property-shortage\/","title":{"rendered":"Manchester and its rental property shortage"},"content":{"rendered":"
City centre living is quickly becoming the norm in a lot of places, as it is in Manchester. With the city\u2019s population growing year on year and space and supply being very limited, let\u2019s have a closer look at what the situation for Mancunian renters is actually like. <\/strong><\/p>\n The MEN revealed<\/a> that some estate agents claim that there are more than 2,000 potential renters to just 130 properties. This makes for a ratio of 15 prospective tenants for every single property.<\/p>\n The MEN research overall discovered the following trends:<\/strong><\/p>\n The market is becoming increasingly competitive due to the significant shift in interest of Generation Rent to live in Manchester.<\/p>\n Ben Garland, manager at Jordan Fishwick, says: “The market has definitely become busier and we have noticed that Manchester is becoming increasingly popular with clients from all corners of the globe.<\/p>\n “Generally we receive between 5 and 10 enquiries per property then receive 3 or 4 offers on each of our properties on average.”<\/p>\n Andrew Seldon, managing director at Thornley Groves, advises prospective tenants to act quickly, “To rent they have to close on the day, as we would have around 4 or 5 people to view the property on the day.”<\/p>\n James Favas from Purplebricks<\/a> even went as far as to say: “I have dealt with properties before in the city which have been on the market for only 1 hour and been let.”<\/p>\n Manchester leads way in property investment<\/a><\/p><\/blockquote>\n\n