New build property in Manchester set to be snapped up as local employment grows
The opportunity for long-term profits from investing in property is no more evident than in Manchester. It’s a vibrant lifestyle city with a rapidly-growing local economy. The city benefits from a highly educated workforce, and a wide spectrum of job opportunities for all.
In this article, you’ll learn more about the employment in Manchester and why it is helping to create a massive potential to invest in Manchester property.
A huge local economy supporting jobs growth
Manchester boasts the UK’s second largest economic region in the UK after London and produces 3.5% of the entire nation’s GVA. It’s a powerhouse of job creation, with a diverse and rapidly expanding economy which makes it well protected against the economic downturn.
A huge and diverse workforce within an hour’s commute
The Economic expansion could not take place unless supported by the availability of employees. The Manchester city region offers businesses access to a potential workforce of 7.2 million people within an hour’s commute.
Not only do businesses benefit from access to numbers of workers, but also to the talents required to support highly productive sectors. A wide pool of highly qualified people is exactly what the high growth sectors of bioscience, new media, digital, food, logistics, ICT, and financial and professional services rely upon. The Manchester region satisfies this need.
The recruitment and retention of highly qualified employees are made easier by access to graduates and students from Manchester’s five universities, and the 18 other universities and higher education establishments within an hour’s drive of the city centre.
About 25% of the labour force is educated to degree level, and with a high number of foreign students, businesses also benefit from access to a diverse, multilingual workforce.
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Manchester – a magnet for global businesses
Manchester’s qualities, position, and economic policies have helped to encourage some of the world’s biggest businesses to operate here. Among the businesses that have regional or national head offices here include:
- Adidas (national)
- AstraZeneca (regional)
- Bank of New York (national)
- Barclays (regional)
- BBC (regional)
- Brother (European)
- The Co-operative Group (national)
- Gazprom (national)
- Google (regional)
- Kellogg’s (KPMG) (regional)
- Marks and Spencer (regional)
- Network Rail (regional)
- Siemens (regional)
- Thomas Cook (national)
- Williams & Glyn (global)
The property fundamentals are aligned for Manchester property investment
It’s not only the city’s employment market that is likely to drive profitable opportunities in Manchester property. All property fundamentals are aligned in this great city:
- Manchester is a mecca for retail therapy. It has some of the best and most famous shopping centres in the UK, and a plethora of boutiques and independent stores.
- For families, Manchester’s educational options are comprehensive. Children from the age of two through to 18 and older are completely catered for, with some of the best educational facilities in the country and a university network that has produced 25 Nobel Prize winners.
- Manchester’s entertainment scene is unrivalled outside of London. Manchester Arena is Europe’s largest indoor concert venue. The city boasts more than a dozen cinemas and tens of museums and art galleries. It is also within easy reach of some of the UK’s most outstanding areas of natural beauty, including the Lake District, Peak District, and Yorkshire Dales. Sports facilities are limitless.
- The city is one of the best connected in Europe, with extensive road, rail, and bus networks as well as an extensive canal network. Manchester Airport, which was ranked the UK’s best airport at the 2015 Globe Travel Awards, is just minutes from the city centre.
- Manchester is benefitting from its status as being the first UK city to take advantage of the devolution of power and financing from the central government. The Greater Manchester City Deal makes billions available for investment here, supporting urban regeneration and the creation of enterprise zones and thousands of jobs.
The key takeaways for property investors include:
- A rapidly-growing local and regional economy, attractive to major companies
- Local and government policies to support regional economic growth
- Above-average economic growth forecast for at least two decades
- Above-average jobs growth
Manchester property could be the key that unlocks the door to incredible investment profits in your portfolio. Contact one of the Gladfish team today on +44 (0)207 923 6100, and discover more about the amazing property investment opportunities in Manchester.
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