Manchester can match London for its population growth, economic strength and cultural diversity. But it is far surpassing the capital in its housing market as house price growth in Manchester is overtaking the Capital’s. Since 2015 Manchester has seen house price growth of over 7% year-on-year according to Hometrack. Accelerating past the capital’s 1% annual drop in house prices.
Manchester is home to a large number on international, market-leading firms. These are helping to create an attractive job market and a strong workforce. With a graduate retention rate of 51% – the highest outside of London – lots of young, skilled professionals are helping to further boost the city’s finance, media, technology, and design markets.
Many young professionals are also choosing to relocate to Manchester, attracted by its excellent career opportunities and dynamic nightlife.
Manchester is now one of the country’s top cultural destinations. This former industrial city is now the home to the biennial Manchester International Festival, two symphony orchestras and Europe’s biggest indoor arena. 2015 saw the opening of the HOME art, theatre and film centre designed by architects Mecanoo. Already it has had over 1.8 million visitors. The world-famous Manchester United and Manchester City football clubs are also a draw for both residents and investors; those who feel a connection to the city through the familiarity of the teams’ brands.
Already benefitting from excellent motorway links and an international airport connecting Manchester to all over the UK and beyond, infrastructure in the city is only set to improve with the construction of HS2 and the Northern Powerhouse Rail. These new railway lines will drastically cut travel times between other major northern cities and London. Therefore helping people and businesses work with other firms throughout the UK.