It has long been held that the movement of people in the United Kingdom has been in the direction of Manchester. There have been many studies and concerns into the “brain drain” which has seen fine talent of many genres and backgrounds head to the capital, but it appears that this is no longer the case. A study undertaken by Reach PLC’s Data Unit suggests that more people are leaving the capital and heading north than those moving in the opposite direction.
For 2017, it appears 10,200 people made their way from the capital to Greater Manchester while only 8,870 travelled in the opposite direction. This equates to a net gain in Greater Manchester of 1,330 people; or over 3 people a day.
Stockport is playing its part in Greater Manchester revival
These figures, compiled by the Office for National Statistics, indicate this is the highest gain by Greater Manchester from London in more than five years. Salford has gained 380 in comparison with London, perhaps not surprising with the media focus in this part of Manchester but there was good news for Stockport. It turns out that for figures comparing Stockport and London, the Greater Manchester town has gained 210 people. Rochdale has also benefitted, picking up 180 people, but there is a lot to be said for the gain that Stockport has made.
At Spencer Harvey, as Stockport estate agents, we are delighted to see news of people heading to the town. There have been significant changes and developments in Stockport of late, and it is easy to see why many people would decide that this is an ideal place to live. There are straightforward transport connections between Stockport and London, and of course Manchester, so for people looking for a town that gives them space but leaves them feeling well connected, Stockport has a lot to offer.
Property prices in the capital force people to look elsewhere
While improvements in Stockport are a factor to consider when reviewing the movement from London, house prices in Greater Manchester compared to London is the key factor. If people own property in London, they’ll find that selling up and moving north provides them with much better value for money. There will also be people who cannot afford to buy in London but who find themselves in a position to afford fantastic property in Stockport or Greater Manchester.
Recent figures have listed the average price of property in London as £484,584 while in the North West of England, the average home price has been classed as £155,868. This means that the average price of property in the North West is 67.8% cheaper than prices in the capital, which makes moving home a simple decision for many people. It should be noted that London experienced a net loss of 106,620 people in 2017, so house prices in London are impacting on people’s movement and behaviour.
If you are looking for assistance in making a move in or around Stockport, 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
*Image By Mike from Stockport, England - Stockport Viaduct, CC BY-SA 2.0, https://commons.wikimedia.org/w/index.php?curid=3588970