Manchester may be known for being the primary transport and logistic hub in the country after London, but it also is renowned as a centre for culture, history, and education.
Education is one of the many reasons professionals and families working in the city centre are looking for homes to rent during their stay. In fact, education is quite essential to Manchester’s success and off plan property investments as regeneration developments around the city centre do include many residential units to serve families who live and work there—something a property investor like you would be very interested in.
Investments and a Talented Workforce Fuel Manchester’s Economic Growth
The increase of investments poured into Manchester’s commercial and residential developments has positively impacted its economic growth, especially in creating new jobs. The Manchester City Council states that by 2040, these investments will generate 65,000 new jobs.
Creating a Highly Talented and Intelligent Workforce Through Manchester’s Schools
Manchester’s financial and professional services sector is one of the factors that contributes much to the success of the city centre. Part of this contribution is attributed to the nurturing and growth of a talent pool, which comes directly from the city’s universities and schools, as well as graduates of the Alliance Manchester Business School — an internationally renowned institution of business, economics, and finance education.
Manchester’s Universities Anchor Its Growth and Status as a “Beta Global City”
Over 30,000 students graduate each year, and the majority are encouraged to stay as the city centre needs those minds and talents to spur its economic growth. This talent pool also contributes to its recognition as a Beta Global City and a centre for economics, with research and enterprise clustered around The University of Manchester.
No Brain Drain for Manchester and Its Off Plan Property Investments
While other cities in the UK would experience a brain drain of sorts when its young professionals and graduates move away to seek employment elsewhere, Manchester has experienced the opposite.
It has done this in three ways: by encouraging its university graduates (both local and international) to stay and work in the city, by making the job market lucrative through its major investments and a wide range of employers headquartered in the centre, and most importantly, by ensuring its educational institutions are some of the best in the country, if not in Europe. This emphasis on education is also essential to Manchester off plan property investments.
Major Centre for Research, Sciences, Engineering and Professional Services
The University of Manchester is a research university and was formed in 2004 through the merger of The University of Manchester Institute of Science and Technology and the Victoria University of Manchester.
As a major centre for research, the university participates and collaborates with research groups, think tanks, businesses and companies from a wide range of industries. It also provides assistance and space for startups and venues for workshops and conferences. The University of Manchester is also notable for producing 25 Nobel Prize laureates.
The Most Applied-To University in the UK
As the most applied-to university in the UK, The University of Manchester attracts top students from within Manchester and around the country, as well as international students from over 160 countries. In a 2020 Graduate Market Review by High Fliers Research, The University of Manchester is the most targeted university by top employers in the UK because of the quality of its graduates and postgraduates.
Centre for Employment and Labour Studies, Technology, and Critical Management
Another educational institution whose graduates are also most sought-after is The Alliance Manchester Business School. It is one of the most prestigious business schools in the UK and is housed at The University of Manchester.
Its programmes include finance, international business and management, business analytics, accounting research, employment and labour studies, technology management and innovation, critical management studies, and others. Its enrollees include undergraduates, postgraduates, as well as professionals and executives living and working in the city centre and firms around Greater Manchester.
Research in Applied Sciences, Engineering, AI and Cyber Security at Manchester Met
Manchester Metropolitan University was formed as Manchester Polytechnic by merging three colleges in 1970. It gained university status in 1992 under the Further and Higher Education Act.
Manchester Met, as it is fondly called, is known for its higher education research programmes, including bioscience research, engineering, AI and data science and cyber security research, among others. It partners with firms and businesses in the city centre for research, workshops and collaborative efforts. It is the second most applied-to university after The University of Manchester, receiving more than 50,000 applications each year.
Centre for Law, Legal and Special Legalist Studies
Another heralded academic institution is The University of Law, the UK’s largest law school. It is known for its excellent course and degree programmes, including a one-year foundation programme for international students, specialist legal training, professional development programmes in risk and compliance, and professional skills, among others.
Residents who completed their law degrees and programmes and graduates who come from the region are most often targeted by domestic and international firms and employers with offices and headquarters in the city centre.
Manchester’s Knowledge Quarter: A Cornerstone in Its Economic Success
Together with the Royal Northern College of Music, these universities form Manchester’s higher-education quarter around Oxford Road and the foundation of the city centre’s research and knowledge quarter. As of 2022, these universities and other schools in Manchester have a combined population of over 80,000 students (undergraduate and graduate students only; postgraduate and professionals are not included).
By investing in regeneration developments to build infrastructure for business, retail and residential spaces and investing in its centres for education, Manchester is looking at long-term economic growth and success for the city and the region.
Answering the Demand for Housing by Workers, Families, and Students
On the outside, it may look like Manchester’s economic success is founded on its strategic location for trade and logistics. While true, it doesn’t paint the whole picture. What makes Manchester a success is that its talent pool is deeply anchored into its world-class schools and universities. This can be a vital consideration for professionals with families moving to Manchester to live and work there.
A Vital Fundamental to Successful Off Plan Property Investments in Manchester
An area with good schools is important to building your property investment portfolio. This is one of the factors why we advocate for Manchester off plan property investments: you’re planning for the long term just like Manchester is planning for its own long-term economic success.
Keeping the Family Together Means Long-Term Success in Property Investments
The proximity of good schools, combined with massive investments being poured into the city centre, as well as shops and leisure facilities close by, provide good solid fundamentals for property investment. And this is something your potential tenants are looking for: residential housing close to the centre and the schools where their kids could go.
Manchester’s Solid Fundamentals Make Off Plan Property Investments Good for 2022
Property investment experts are optimistic about the strong capital and yield growth for off plan property investments in Manchester, particularly for areas close to the business and office centres and schools. So when you’re looking for investment properties, consider areas that are close to where your tenants will live, work, take their children to school, and places where they can have fun as a family.
Chat with our team today to learn more about off plan and new build properties, as well as about creating a plan for investing in areas with good solid fundamentals, including the strategies that can give you the confidence and certainty to invest in Manchester.