22 Oct, 2019

What’s next for Manchester’s property market?

2019 10 23 Manchester city centre

Manchester’s history, character and culture combine to make it one of the most exciting cities in Europe right now for residents, businesses and investors.

This is an outward-looking and ambitious city which welcomes investment and business whilst re-investing its wealth into world class transport systems and public services, as well as world-renowned heritage projects such as the John Rylands Library.

It is a city which is home to cutting-edge developments, but also cherishes and refreshes its existing world class architecture. Modern, Georgian, Roman, Gothic and more; Manchester has something for everybody.

Now that the city has achieved the status of one of the world’s best, what is it looking to achieve in the next five years? Let’s take a look.

The Greater Manchester region

Greater Manchester's Plan for Jobs, Homes and the Environment – part of the Greater Manchester Spatial Framework (GMSF) – is at the heart of Mayor Andy Burnham’s plans for the region over the coming years.

It aims to provide brownfield building sites for new offices, buildings and apartment blocks as well as providing funding and assistance to regenerate and build upon Greater Manchester’s existing town centres.

Areas in line for further improvement include Bury, Rochdale and Oldham, which will use investment funds to improve the existing town centres and become more attractive to businesses – and regeneration in these areas is likely to fuel population growth in the city centre.

As shown by the thousands of people who commute outwards to MediaCityUK, Altrincham and Eccles each morning, there is an established trend of people living in the centre of Manchester and travelling to work in regional business hotspots.

Even though the Deloitte Manchester Crane Survey 2019 shows that anticipated residential delivery in the city over the next three years is due to exceed the previous 10 years combined, it is unlikely to be enough to meet demand – meaning that Alliance Investments projects such as Axis Tower and Oxygenwill be in high demand among buyers.


At an event in January, Mayor Andy Burnham announced that Greater Manchester will complete no less than 65 new transport projects over the next five years, which will include Metrolink network improvements, road improvements and railway improvements.

Greater Manchester’s 2040 Transport Strategysets out all the transport improvements to be implemented by 2025, with aims to extend the Metrolink out into Stockport, the purchase of 27 new trams and the completion of the Trafford Park line which is currently under construction.

These measures will create, “world-class connections that support long-term, sustainable economic growth and access to opportunity to all,” according to Transport for Greater Manchester – a worthy goal, and one which points to a bright future for the region.

The future

Forward-thinking and bold, Manchester encourages developers to build amazing projects and businesses to make the city their home. In turn, this inspires people to move to the city and make Manchester their home.

Manchester is one of the biggest and best cities in Europe and, if the past thirty years are anything to go by, then Manchester has an extremely bright and wealthy future ahead or if.

It is no surprise that so many people are moving to Manchester to take advantage of all the city has to offer, whether that is world-class job opportunities or a cultural offering that is second-to-none. With a projected population increase of more than 50,000 over the next 15 years according to Cushman & Wakefield, it is clear that many more homes will be needed.

One sector in particular which will see increased demand is high-end, luxury accommodation. Manchester city centre has a shortfall of homes of this standard and a select number of developments in construction are set to fill that gap. One of the most eagerly anticipated is Oxygen, located just minutes from both the city centre and Manchester Piccadilly station.

Comprised of 12 premium townhouses and 345 stylish apartments, as well as providing 5-star leisure facilities and sky gardens, these will be some of the most desirable homes ever seen in Manchester. An iconic development for the city, interest in Oxygen is understandably high.

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