How Strong Is the Northern Housing Market?

 

Overall, the housing market in the North of the UK is strong, with Manchester particularly feeling the benefit of increased global interest, ever increasing housing demand and substantial development activity.

The UK Government’s Northern Powerhouse initiative is continuing to pick up momentum which is allowing Northern cities to look to the future with assurance.

https://www.buyassociation.co.uk/2017/04/10/housing-clear-priority-northern-powerhouse/

The figures back this positive rhetoric, with 16% in capital value growth in Manchester last year. JLL have recently forecast house prices in Manchester to grow by up to 28.2%, and the North West to rise 18.1% until 2021.

The region is expected to welcome almost 42,000 new households each year, many of these making cities their home – this projected increase in population will add to housing demand, pushing up both house and rent prices.

Politically, further devolution for the northern cities should continue to benefit the region; funds will be allocated to where they are needed, resulting in better places to live.

https://www.buyassociation.co.uk/2017/04/06/manchester-ahead-london-ranking-top-global-cities-house-price-growth/

The HS2 and HS3 high speed train lines will close the gap between the North and South and between Manchester and Leeds. This, along with the Northern Powerhouse, will encourage business in the north and further boost economic prosperity (Predicted economic growth in the region of 1.5% between 2017 and 2021)

With current and projected figures painting a good picture for the Northern housing market and Greater Manchester particularly, investors may be wise to turn their focus away from London and more further up north.

Highgrove Mews

High Net Yield Freehold Houses

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St Petersgate – Stockport Manchester

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Assured Rent Housing Association Leases

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From £62,000

Emerging Birmingham Commuter Town With Properties From Just £104,000

The emerging Birmingham commuter town where properties are selling in an average of just 24 days

  • A collection of 62 two bedroom apartments and 28 one bedroom apartments.
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Mill, Stockport

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Discounted off-plan 2-bed prices from £162,000

South Central – Birmingham City Centre Apartments

Highly anticipated 28 storey launch in Birmingham City Centre with an impressive roof garden and communal facilities.

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from £205,800

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How Strong Is the Northern Housing Market?

How Strong Is the Northern Housing Market?

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