Manchester has been the focus of the UK Government’s plans to turn the North of England into a powerhouse, helping the area to compete with London and the South.
The ‘Northern Powerhouse’ is a proposal to boost economic growth in the North of England by the 2010-15 coalition government and 2015-2017 Conservative government in the United Kingdom, particularly in the "Core Cities" of Manchester, Liverpool, Leeds, Sheffield, Hull and Newcastle.
Industries within the area have grown exponentially due to regeneration initiatives by the Government, these include:
Manchester is also a convenient international gateway well connected by:
After the height of the recession, a number of large media businesses reassigned their offices from London to Manchester. The BBC’s move to Salford’s Media City was a monumental monetary influx to the local economy and saw the appeal of Manchester ascend for young professionals and businesses concurrently.
A further £300m per year was contributed to the local economy, when a number of other companies, such as Grenada and ITV, also transposed to Media City, making the area the country’s new media hub. Credited to these large-scale pecuniary moves, a number of highly skilled professionals have followed these businesses to Manchester, boosting capital growth further.
Another reason to invest in Manchester is the continuous work that is going into developing the city.
United Kingdom’s second-largest economic hub, Manchester. Recurrently described as the country’s “Northern Powerhouse”, Manchester is a city that is thriving – seen as an affordable and desirable investment alternative to London.
Many foreign investors, who once saw the capital as a safe bet, have been deterred by brexit fears. Coupled with this, the London property market continues to exclude many would-be residents and investors with premium valuations. Eyes are now turning to one of the UK’s hottest spots for property investment, Manchester.
There are many reasons why Manchester has become one of the UK’s hottest spots for property investment, including
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