How Manchester’s Employment Boom Impacts Off Plan Property Investments

Brett Alegre-wood
May 5, 2022

Manchester has a rich history as a centre for manufacturing and industry, transport and trade, and innovation and scientific discovery—-all of which translates into great economic success. This continues today as the city attracts investments, businesses and firms, as well as a highly talented workforce. 

To cater to this growing demand for office space and housing, Manchester has embarked on regeneration developments in key areas around the city. 

What this means is an opportunity for a property investor like you to participate in the growth of the city and the opportunity to gain long-term capital and rental yield through Manchester’s off plan property investments

Growth In Investments And New Businesses Create Demand For Talented Workforce

The growth in investments, new businesses, and firms setting up shop or relocating headquarters in Manchester is opening up new employment opportunities that are now available for Manchester’s residents and talented workforces from surrounding areas of Greater Manchester. These opportunities are also drawing young professionals and new talent from other cities. 

Manchester Off Plan Property Investments

Wide Range of Sectors Creates Many Job Opportunities

Despite Covid 19 and the economic downturn it has caused, Manchester has come out of it unscathed. It has since been declared the fastest growing economy in the UK. Its working population, too, has increased, attracted by the number of employment opportunities that have been made available by massive inward investments and firms opening offices or relocating their headquarters into the city. 

The great thing about these employment opportunities in Manchester is that they are highly diversified. Manchester is home to many companies that operate in a wide range of industries from transport and logistics, financial services, retail, research, legal, and manufacturing. 

The Positive Impact of Investments and Firms on Employment

The increase of investment both inward and from businesses and firms setting up shop in Manchester has positively impacted its economic growth, particularly in creating new jobs. According to the Manchester City Council, the increase in new jobs (nearly 17% in 2018, or 59,000 jobs) has been key to its economic growth. It anticipates more economic growth and success by adding 65,000 jobs in 2040. 

Anticipation Boosts Manchester’s Regeneration Developments

While this forecast seems long-term, it really isn’t, especially if you’re taking it from the perspective of property investment. What it really means is that we have the time and opportunity to get on board Manchester off plan property investments and watch our investments grow as the city expands and grows, and along with it is the working population. 

Manchester Off Plan Property Investments

Growth In Population And Workforce Bodes Well For Manchester

While other cities in the UK experienced a brain drain when people moved or sought employment in different cities, Manchester has experienced the opposite. By investing in itself and the regeneration developments to build infrastructure for business, retail and residential spaces, Manchester has created the perfect location where solid fundamentals for property investment are present. 

Choosing Your Off Plan Property Investments in Manchester Carefully

Today, Manchester offers so many opportunities and places for your target tenants to work, play, and have fun. What they do need is housing. Demand for housing is high, and Manchester off plan property investments allow you to make the most of the potential capital growth and long-term rental yields. The key is careful planning and choosing the area that fits your investment goals. 

Good Fundamentals Make Manchester Off Plan Property Investments Profitable

It’s not just Manchester’s success as an economic giant in the Midlands nor its ideal location for transport and transhipment that make property investment in the city ideal. The combination of good solid fundamentals (investments, employment, schools, and shops and leisure) makes investing in Manchester a good move. 

Manchester Is One Of The Best Places For Off Plan Property Investment In 2022

Whether your goal is to build future wealth, plan for your retirement years, or do a quick ROI turnaround, making your off plan property investment in Manchester is a great consideration. As the second-most populated urban area after London, Manchester’s city centre is focused not only on developing infrastructure for commercial and office buildings, it is also undertaking regeneration developments for housing and residential properties. 

Property investment experts are pegging average rental yields at 5-5.20% within a 12-month period in 2022 (to 2023). They are optimistic about a strong capital growth for off plan property investments in Manchester, particularly for properties close to vital economic centres like the centre for financial and professional services in Spinningfields, retail and leisure in Trafford Park, Altrincham, and Sale Moor, to name a few. 

Available Off Plan Property Investments In Manchester, Castlefield and Salford

There are many options available if you’re looking for Manchester off plan property investments. Manchester offers a variety of off plan and new build property investments that would suit your preferences, goals and your investment plan. 

If you’re looking for areas a bit more to the west, chat with our team today to learn more about off plan and new build properties being developed at Castlefield and at Salford. We can help you learn how to choose areas with good solid fundamentals for your off plan property investments in Manchester and help you get the confidence to invest in property with certainty.


Tags

Manchester Employment, Manchester Off Plan Property Investments, UK Property Investment


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