The Future of Property in Manchester
Any real estate agent will tell you that there are many factors that come into house prices. Everything from transport links, crime and job opportunities are taken into account and even slight percentage drops can means thousands of pounds in difference when it comes to property. All of these factors build up to create a portrait of an area and the houses in it and Manchester is definitely an abstract painting.
London and its house prices often make the headlines with ridiculously tiny houses being put up for rent for extraordinarily unfair prices. It’s supposed to just be a sign of the times, that it’s becoming harder and harder for home owners. But Manchester has been making housing headlines for a completely different reason, the plan to turn derelict homes within Manchester into homes for ex-service men and women will likely become a jewel in the Northern skyline. The Veterans Village is a project launched this September in Newton Heath as a part of BBC’s project DIY SOS with the host Nick Knowles. The project received a much needed publicity boost when Prince William and Harry were seen at the site helping to break ground, both Princes have been putting their support behind the housing scheme which is getting underway within the next month.
The Veterans Village is just one the pieces to the renaissance that Greater Manchester and the surrounding area have been going through in the past two years. With improving transport links, thanks to the Metrolink and the developments to Manchester Victoria, the National Football Museum and the arrival of the BBC in Salford’s Media City.
Manchester has also been garnering international attention with plans for foreign investors to capitalise on the city’s burgeoning talent.
Recent plans have been put forth in China by Chancellor George Osborne to strengthen relations between England and China, this includes the recent flight take off from Manchester to China included in this was showcasing a three billion pound Manchester project to Chinese investors this September. Contained within in this is a partnership between council’s and the Home and Communities Agency fund more than 10,000 homes within Manchester, attracting more business and opportunities to the area.
Deals are being struck with Manchester City’s home ground, Etihad Stadium owners to build over 5,000 homes near stadium within the next decade, the venture which is said to cost one billion pounds will be a joy for every Manchester City fan out there.
Manchester has without doubt, become one of the hottest places to buy property in the country. In a sign of the changing times in Manchester, twenty one homes in both Greater Manchester and Cheshire have been sold from upwards of one million pounds in the past eight months and the prices are set to rise even higher in 2016. The most expensive house sold in Greater Manchester last year was Highbury, a beautiful, six-bedroom detached house on the exclusive Harrop Road in Hale. The house sold in May for an eye-watering £2,125,000 is likely to only increase in value. Five houses in Greater Manchester have been sold for two million or more within 2014, four of which were in Trafford and one in Bury. The evidence suggests to us that football fans are willing to pay a lot of money to live near their beloved teams and players want a short commute to work.
The real estate hot spots are in Hale and Bowden, lavish and well space homed are doing particularly way. But there are is also a great call for houses at the lower end of the spectrum also due to the fact property developers are predicating fast rises for all areas. The Northern Powerhouse is going to be attracting international attention and likely dozens of investors for both housing and infrastructure.
Manchester’s property market is inspiring some of its most innovative tech-heads, including a Manchester start-up aptly named ‘Knocker’. An incredibly useful app for anyone who’s ever passed by a beautiful property or walked down a stunning street and wanted to know the area’s house prices. Jon Grant and Sam Easterby Smith are the two south Manchester-based geniuses behind the app which uses your phone to help calculate your position so you can see the house prices in and around you. And you can use the app to arrange viewings which is especially useful for renters trying to find a place quickly.
As changes through many areas of Manchester are making way for opportunities in employment and investment, the spark of engagement will light a fire in housing, renting and land ownership all the way around Greater Manchester, Cheshire and Lancashire that we will all be feeling the effects of for years to come.