If you observe the property market, you realise many factors influence behaviour and decisions. We all know that political decisions influence the way buyers and sellers behave, and changes in house prices will often lead to movement or stalling in the market. When it comes to external factors, it is fair to say employment in an area impacts on demand for homes, and anyone studying the Greater Manchester property market understands this issue.
Manchester is positively booming when it comes to job numbers and has a rate of growth that is moving faster than the other leading hubs in the United Kingdom. It has been stated that by 2020, there will be 10,000 more office workers employed in Manchester than there were in 2018. This is a startling level of growth in a short time-span and is a clear indicator that Manchester is changing in front of our eyes.
The investment in Manchester is outstripping the level of inward investment in the next five leading cities in the country. Businesses want to be in or around Manchester, and people want to be close to companies.
Businesses are flocking to Manchester
There are many reasons why businesses flock to Greater Manchester, but the substantial student population is a huge factor. A significant number of these students graduate each year and stay in the city or surrounding areas. Firms benefit from having access to a young, fresh, intelligent, motivated and energetic workforce. Companies that value new recruits and are forward thinking know there are benefits to being located in Manchester.
Manchester city centre is changing, and there is a healthy level of development taking place. Property investors know there is sufficient demand for city centre apartments that ensure people are near their places of work and entertainment venues.
Some people want to move away from the city centre
However, not everyone wants to stay in the heart of the city centre. Some people prefer a more sedate pace of life while others think there is better value for money to be found in buying a property that offers space as opposed to cramped accommodation on the doorstep of where they work.
People want to live relatively close to their work, but thanks to robust commuting options, you can be close to Manchester without being in Manchester. The train journey from the heart of Stockport to the centre of Manchester is just over ten minutes long, providing residents with the best of both worlds. The increase in jobs in Manchester has led many people to look outside of the city for houses, and development work in Stockport has seen the town become one of the ideal destinations for professionals requiring a simple commute.
With convenient transport links to the centre of Manchester, and significant developments taking place, Stockport is the ideal place to buy, live or invest. 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