Manchester property prices are rising faster than UK averages |
Posted: June 19, 2018 |
Manchester property prices are rising faster than UK averages... When it comes to investing in property, it pays to know where the latest property hotspots are. Whether you’re buying-to-let, buying-to-live, or simply looking for a holiday home, location is always an important factor. In terms of growth, Manchester has shot head of it’s southern rivals, recording the fastest house price growth of any city in the UK. With it’s fast growing economy and booming city center, Manchester is set to continue soaring ahead of national performance forecasts over the next 10 years. Property prices in Manchester grew by 34% in the three years to July - while the national average was just 30%. The vibrant economy and regeneration have boosted investment levels in city, which is the Northern powerhouse front runner. A growing number of homebuyers, from home movers to residential property developers, are putting their money into England’s northern regions. According to the Hometrack Cities Index - which measures the rate of property price growth across 20 of the UK’s major cities - Manchester currently leads the way as the fastest growing city, with an annual home price increase of 7.9%. This takes the average price of a home in the city to £158,800, which is still reasonably affordable compared with the UK average. The population of Manchester is also forecast to rise faster than the national average in the next few years is. It’s clear this electric city really does offer a fantastic range of opportunities for investors.
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