Manchester’s capital values are set to grow by 22.2% over the next three years, according to property investment firm IP Global.
With population rises, devolution, an increasing tech presence and forecast economic growth, the city is expected to see demand for property outstripping its construction pipeline.
Some 65% of FTSE 100 companies now have a presence in Manchester, according to the firm.
IP Global senior investment manager Jonathan Benarr said: “The exceptional resurgence of Manchester in the past few years, particularly its creative and digital sectors, means it is rapidly becoming a top-choice destination for property investment. The city is currently experiencing one of the highest rental growths in the UK, coupled with a severe undersupply of high-quality property assets in the city centre.
“The UK has always been seen a safe haven for foreign investors, but Manchester is now leading the charge outside London as investors look for higher-yield assets outside the capital. The investment community is also looking to capitalise on the growing labour market, strong transport links and significant government investment.”
