It is correct to say that the fortunes of the business sector impacts on the property market. If there is optimism in the business market and the number of jobs being made available is on the rise, it is natural to see a positive impact on the property market.
After all, when there are jobs and confidence in work, people will be more inclined to feel as though buying property is a sound investment. There is also the fact that more people will be interested in moving to the area, which provides an added incentive for landlords and property investors to buy homes and use them for letting purposes.
Booming business is good news for most people
Therefore, news that business is booming in Manchester is likely to be regarded as positive news. Figures taken from the ONS indicate that the number of firms in the area is on the rise. In 2014, there were 15,060 in the city and in 2018, there are now 23,845 businesses in the city. This has risen by 58%.
In comparison to the 2017 figure, which saw 22,490 businesses in the city, there has been a rise of more than one thousand firms. If you are interested in the breakdown of these figures with respect to certain industries, the following information will be of benefit:
- 5,495 firms are operating in the retail sector
- 4,215 firms are in the professional, scientific and technological industry
- 1,805 firms are operating in the property sector
As for Greater Manchester, the number of businesses in 2014 stood at 79,025 and by 2018, this had risen to 105,250.
Stockport is more welcoming to business than ever before
We won’t lie, when it comes to Stockport, there has been a slight fall in the past year, with 2018 having 130 businesses less than 2017. However, when you take on board the amount of development work taking place in Stockport and the commitment to helping the business community, there is hope that this will turn around before too long.
Chris Fletcher, is the marketing and campaigns director of Greater Manchester Chamber, and he released a statement, saying: “Despite what many people may think is going on, the reality is that for the majority of businesses across the three sectors in Greater Manchester, growth is still happening, though we do seem to be moving into a slightly different cycle with more focus on domestic markets than we have previously seen, especially in Construction.”
It is natural that there are business concerns in the UK right now, and it may be that there will be some challenging moments to come. However, there is an air of positivity in Stockport today; and there has never been a better time to get involved with the local market.
As Stockport property specialists, we want to ensure you stay in touch with the latest property news. If you are looking for assistance in this area, give Spencer Harvey a call on 0161 480 8888 or send us an email at info@spencerharvey.co.uk. For a free valuation please visit: https://www.spencerharvey.co.uk/valuation-enquiry.html