What more new homes could mean for Manchester and Salford

Manchesters booming rental and buying market

When you live in a place that’s been voted as the number one city in the UK to live, it’s understandable that there’s a bit of a queue to get in. Each week we get more and more calls, emails and social DMs from property hunters who are fresh faced and wanting to come and live in the big city of Manchester and its neighbour next door, Salford.

And what do we do? We welcome them with open arms of course. The more the merrier.

However, there’s often a stumbling block. A shortage of property in such popular locations is quite often a barrier. Properties get snapped up very quickly – sometimes within just hours of it going on the market. But, here’s the good news…

The property buffs among you may be aware that the UK currently has a bit of a housing shortage. Luckily, the good people of Manchester are rectifying this by ramping up the number of new homes being built. Take a look at the latest figures:

- Nearly 2,500 apartments under construction in the City Zone alone, and nearly 3,000 apartments under construction in Central Salford

- Throughout all of central Manchester, just over 7,000 apartments are now on-site.

- 40,000 apartments in the pipeline overall across inner Manchester, which will provide space for a population increase of up to 100,000 more people.*

Why will this make a difference?

Well, it’s no secret that both cities are growing by the second. The increasing number of employment opportunities, business start-ups and university places invite more residents every day, and the more decent homes built to keep up with demand, the better!

It’s great to see developers being proactive enough to recognise the potential growth of Manchester and Salford – everything surrounding the Northern Powerhouse initiative will only see these cities grow even further. And don’t think these new homes will be any bog-standard, run of the mill kind of places. We’ve seen some of the plans and well… what can we say. We’re excited.

While it may seem like a while to wait, we’re already close to entering 2017 and these homes are likely to be completed over the next few years, so it won’t be long until a whole raft of new homes enter the market. A bit of good news all round it seems!

* figures from Place North West

Property is our speciality. We sleep, eat and breathe it. So if you’re looking for a home, whether it’s for yourself or for investment, why go anywhere else? If you’d like to chat to our A-Team, give us a call today on 0161 637 8336.