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Manchester city centre to see ‘four-year price surge’

Property prices in Manchester are expected to experience a boom as experts predict a “four year price surge”.

Manchester City Centre

Property prices in Manchester are expected to experience a boom as experts predict a “four year price surge”.

The forecast, made by Jones Lang LaSalle, suggested that the value of buy-to-let property investments within the city centre is set to increase by 26% over the course of the next four years, outlining that two-bed apartments will increase in value from £280,000 to £354,000.


The UK’s second city is set to undergo the kind of growth previously only seen in the London property investment market, with international investors becoming increasingly interested in the city.


Manchester’s rapid growth over the past two decades has created unique market conditions where there is a dramatically low supply of homes in the city centre – only half of the number needed to meet demand.


This has meant that Manchester is poised to experience a surge in both rental prices and capital appreciation. According to the research conducted by JLL, rental prices are predicted to rise from the current £975 average to 9% higher in 2015 and by as much as 26.3% overall by 2019.


As international buyers begin to look outside of London for other opportunities, cities such as Manchester and Birmingham are benefitting, with purchasers seeking conditions similar to the capital, finding properties at prices that are far lower than in London.


Recent data from Hometrack has found that cities in the North are beginning to experience property price growth, with Manchester, Sheffield, Liverpool, and Newcastle all experiencing price acceleration. Conversely, the market in the South is beginning to slow, with cities such as London, Bristol, Cambridge, Oxford and Bournemouth all reaching their affordability ceiling.

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