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36,000 New Manchester Properties to be Built by 2032

August 9, 2022

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Article Summary

Manchester
  • The plans aim to create “diverse, sustainable, and long-lasting communities” across Manchester and cover all types of homes to meet all of the city’s residential requirements.

  • There will also be 3,000 new large affordable family homes to help tackle overcrowding in the parts of Manchester that attract bigger families.

  • The new plans also feed into Manchester’s aim to become a zero carbon city-region by 2038. Half of the new homes built by 2025 will be low or zero carbon.

Manchester City Council has launched its new housing strategy. In a bid to keep up with growing residential demand in the city, the Council is pledging to invest in Manchester property by delivering 36,000 new homes over the next decade.

 

A range of property types

The plans aim to create “diverse, sustainable, and long-lasting communities” across Manchester and cover all types of homes to meet all of the city’s residential requirements. 10,000 of the properties will be social and affordable housing, leaving up to 26,000 available as potential property investment opportunities.

There will also be 3,000 new large affordable family homes to help tackle overcrowding in the parts of Manchester that attract bigger families.

In addition, the plans cover the Council’s investment into Manchester property for older people, with homes that are appropriate for their needs.

 

Environmentally-friendly development

The new plans also feed into Manchester’s aim to become a zero carbon city-region by 2038. Half of the new homes built by 2025 will be low or zero carbon. And at least a third of Manchester’s 70,000 social homes will be retrofitted to be low-carbon emitting by 2032.

Manchester City Council are showing their green ambitions through the private property investment and development projects too. Many of the recently-announced Manchester property investment construction projects approved by the Council boast various eco-friendly credentials.

 

The homes people need

Speaking of the Council’s ambitious plans, Councillor Gavin White, Manchester City Council’s executive member for housing and development explained: “We believe that everyone should have access to a safe home in a vibrant community, that is secure and affordable to our residents. We are confident that this new strategy will help our residents move into the homes they need.”

Manchester City Council’s leader Bev Craig spoke of good-quality housing being “a fundamental need for everyone” and said that the Council’s housing strategy was “adapting to tackle climate change head on.”

She went on to say that “Manchester has always been a place of opportunity and ambition. Our approach to housing must meet that potential and deliver the homes that work for Manchester people.”

 

What is property investment?

Put simply, property investment is property purchased with the intention of generating financial returns for its buyer. These returns could be in the form of rental income through buy-to-let properties, house price growth through the future sale of the property or both. Individuals or organisations can invest in property, and the investments can be short, long or medium term.

 

Contact us

There’s no need to wait until the This City development is ready to invest in property in Manchester. Find out what property investments in Manchester are available right now by getting in touch with North Property Group today.

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