{"id":4023403,"date":"2019-03-21T09:27:43","date_gmt":"2019-03-21T09:27:43","guid":{"rendered":"https:\/\/www.buyassociation.co.uk\/?p=4023403"},"modified":"2019-03-21T09:27:43","modified_gmt":"2019-03-21T09:27:43","slug":"manchester-set-for-further-housing-and-infrastructure-growth","status":"publish","type":"post","link":"https:\/\/www.buyassociationgroup.com\/en-us\/news\/manchester-set-for-further-housing-and-infrastructure-growth\/","title":{"rendered":"Manchester\u00a0set for further housing and infrastructure growth\u00a0"},"content":{"rendered":"

As Manchester\u2019s population continues to grow,\u00a0<\/span><\/b>further housing<\/span><\/b>, economic, and\u00a0<\/span><\/b>infrastructure growth\u00a0<\/span><\/b>is expected<\/span><\/b>\u00a0to keep u<\/span><\/b>p.<\/span><\/b>\u00a0<\/span><\/h3>\n

Manchester\u2019s\u00a0<\/span>economic growth<\/span><\/a>\u00a0is on par with top-performing cities across Europe. With a growing population, mainly of students and young professionals, a diversified economy, and\u00a0<\/span>extensive\u00a0<\/span>construction growth and\u00a0<\/span>infrastructure\u00a0<\/span>development,<\/span>\u00a0it\u2019s easy to see why Manchester is not only the UK\u2019s\u00a0<\/span>fastest growing\u00a0<\/span>city<\/span><\/a>\u00a0but one of the fastest in Europe as well.<\/span>\u00a0<\/span><\/p>\n

Growing population<\/span><\/b>\u00a0and house price<\/span><\/b>s<\/span><\/b>\u00a0<\/span><\/h3>\n

Since 2015, the city\u2019s population has grown<\/span>\u00a0by nearly 6%<\/span>, according to\u00a0<\/span>M<\/span>anchester City Council\u2019s\u00a0<\/span>2018\u00a0<\/span>State of the City Report<\/span><\/a>. An impressive 65% of graduates of universities in Manchester stay in the city after graduating.\u00a0<\/span>\u00a0<\/span><\/p>\n

Additionally, 36% of people from Manchester who studied elsewhere returned home after graduating.<\/span>\u00a0With a\u00a0<\/span>growing<\/span>\u00a0population of students, the need for more\u00a0<\/span>student accommodation<\/span><\/a>\u00a0is\u00a0<\/span>forecasted<\/span>\u00a0to grow<\/span>\u00a0further and buy-to-let investment<\/span>\u00a0<\/span>is likely to<\/span>\u00a0continue to be lucrative<\/span>, especially\u00a0<\/span>as\u00a0<\/span>Manchester\u2019s\u00a0<\/span>house price growth<\/span><\/a>\u00a0<\/span>is\u00a0<\/span>expected to rise by 57% by the end of 2028.<\/span>\u00a0<\/span>\u00a0<\/span><\/p>\n

Cities in the\u00a0<\/span>south<\/span>\u00a0have previously dominated\u00a0<\/span>house<\/span>\u00a0price growth, however, recently, the north,\u00a0<\/span>especially<\/span>\u00a0Manchester,\u00a0<\/span>has<\/span>\u00a0seen\u00a0<\/span>resilience and growth<\/span>\u00a0even through political and economic uncertainty<\/span>.<\/span>\u00a0A big part of that is because\u00a0<\/span>overseas investment<\/span><\/a>\u00a0is at the highest level in over a decade in the\u00a0<\/span>north-west<\/span><\/a>\u00a0of England<\/span>, while\u00a0<\/span>Manchester\u2019s property market<\/span>\u00a0is seeing a surge of interest from\u00a0<\/span>investors\u00a0<\/span>in<\/span>\u00a0<\/span>Asia and the Far East.<\/span>\u00a0<\/span><\/p>\n

Economic diversity<\/span><\/b>\u00a0and construction growth<\/span><\/b>\u00a0<\/span><\/h3>\n

Many are flocking to Manchester because of the wide range of employment opportunities as the city\u2019s<\/span>\u00a0economy is\u00a0<\/span>very\u00a0<\/span>diversifie<\/span>d.<\/span>\u00a0<\/span>This is another reason\u00a0<\/span>why there is<\/span>\u00a0<\/span>a\u00a0<\/span>high number of young professionals in the city.\u00a0<\/span>Over a fifth of\u00a0<\/span>Manchester\u2019s\u00a0<\/span>population is employed in the financial, professional, and scientific sector.<\/span>\u00a0<\/span><\/p>\n

This city in the north-west<\/span>\u00a0<\/span>is\u00a0<\/span>still home to numerous manufacturing plants but is also\u00a0<\/span>becoming the UK\u2019s tech capital outside of London<\/span>. The tech\u00a0<\/span>sector is fuelling demand for\u00a0<\/span>office space in Manchester<\/span><\/a>\u00a0at a time when\u00a0<\/span>residential and office construction<\/span><\/a>\u00a0is\u00a0<\/span>at record levels.<\/span>\u00a0<\/span>\u00a0<\/span><\/p>\n

Continued development\u00a0<\/span><\/b>in housing<\/span><\/b>, transportation, and\u00a0<\/span><\/b>infrastructure<\/span><\/b>\u00a0<\/span><\/h3>\n

With a growing population, i<\/span>t\u2019s clear there is a need for further housing<\/span>, transport<\/span>ation<\/span>, and\u00a0<\/span>infrastructure.<\/span>\u00a0Recently-announced plans by<\/span>\u00a0the Greater Manchester Combined Authority\u00a0<\/span>include<\/span>\u00a0<\/span>expanding<\/span>\u00a0the\u00a0<\/span>Metrolink<\/span>\u00a0on several fronts.\u00a0<\/span>In the plans, n<\/span>ew<\/span>\u00a0tramlines and a tram-train system where current trams are adapted to run on the same rail lines as trains<\/span>\u00a0are being proposed.<\/span>\u00a0<\/span><\/p>\n

On top of that,<\/span>\u00a0more than\u00a0<\/span>200,000 new homes<\/span><\/a>\u00a0are expected to be built by 2037 in Manchester, adding to the increasing demand for housing stock.\u00a0<\/span>By 2025,\u00a0<\/span>the city\u2019s<\/span>\u00a0population is expected to rise to 644,100, so there will be\u00a0<\/span>further room for growth in the coming years.<\/span>\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

As Manchester\u2019s population continues to grow,\u00a0further housing, economic, and\u00a0infrastructure growth\u00a0is expected\u00a0to keep up.\u00a0 Manchester\u2019s\u00a0economic growth\u00a0is on par with top-performing cities across Europe. With a growing population, mainly of students and young professionals, a diversified economy, and\u00a0extensive\u00a0construction growth and\u00a0infrastructure\u00a0development,\u00a0it\u2019s easy to see why Manchester is not only the UK\u2019s\u00a0fastest growing\u00a0city\u00a0but one of the fastest in Europe… Read more »<\/a><\/p>\n","protected":false},"author":1982,"featured_media":4023063,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[4,349,6],"tags":[188,77],"class_list":["post-4023403","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-manchester","category-uk-housing-market","tag-infrastructure","tag-manchester"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/posts\/4023403","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/users\/1982"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/comments?post=4023403"}],"version-history":[{"count":0,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/posts\/4023403\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/media\/4023063"}],"wp:attachment":[{"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/media?parent=4023403"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/categories?post=4023403"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/tags?post=4023403"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}