Manchester has outshone London as the prime hotspot for property investment in England. In the latest UK residential investment cities report by Colliers for the first half of 2024, Manchester climbed to third place in the rankings - with the city now recognised as the strongest city in England for property investment.
The report, which evaluates UK cities against 24 indicators such as GDP, population growth and leisure facilities, highlights Manchester's recent economic surge and attractive property market conditions.The city has experienced an unprecedented house price growth of 33 percent over the past five years, significantly surpassing the average of 15 percent.
“In addition, we’ve witnessed lots of large corporations and government bodies moving their headquarters to the city in the last five years, such as, JP Morgan, Octopus Energy and Rolls Royce, which has naturally resulted in increased demand for homes, and bolstered significant house price growth in the city."He continued: "Furthermore, Manchester’s economic and residential growth highlights the need for strategic expansion to meet housing demand.