2019 was a fantastic year for the UK property market, and all the signs point to 2020 being even better. Confidence and certainty have returned to the UK economy following the December 2019 General Election, making this the perfect time to buy a buy an off-plan property and take advantage of the upcoming house price growth.
Whether you are a homebuyer or an investor, we think you will be particularly interested in the potential of the Great Ducie Street area of Manchester – one of our recommended property hotspots for 2020. Here’s why…
Manchester is a major economic hub, and its city centre is one of the fastest-growing areas in the UK. It is no surprise that so many businesses and people are moving to the city to make the most of a boom which shows no signs of slowing down in the future.
Knight Frank recorded business growth in Manchester of 41% over the last five years, and the City Council is anticipating that the city centre economy alone will be worth an additional £6bn by 2025. As the economy grows, so will the population.
However, this does mean that the city centre may no longer provide the best value for money. There are simply not enough properties in the heart of Manchester to satisfy demand, and prices are rising increasingly rapidly as a result. Instead, investors and homebuyers would do well to look at areas on the edge of the centre which are undergoing major redevelopment.
Great Ducie Street is an outstanding example of this principle. Property prices are relatively low for the city, but there is a 20-year plan underway which will transform the area and make it one of the most desirable parts of Manchester.
The Great Ducie Street Strategic Regeneration Framework will:
The value of property in the Great Ducie Street area will only increase, and the potential for future capital appreciation is enormous – by purchasing off-plan, you can lock in today’s market value ahead of time and make the most of the upcoming growth.
What to find out more about buying off-plan in Great Ducie Street? Enquire today about Uptown, our luxury residential development next to Great Ducie Street, and get ahead of the market in this booming part of Manchester.