property market update

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Property market update: Where are house prices growing the fastest?

Back in March, data revealed that property values were rising fastest in Liverpool, Manchester, and Bristol.

Now, it has been revealed that house prices in Manchester are rising quicker than anywhere else in the country, with Manchester remaining as one of the most sought-after property hotspots in the UK.

Figures show that last month, the year-on-year house price for Manchester increased by a huge 8.4%, thanks to a large stream of transactions.

Insight Director at Hometrack, Richard Donnell, said: ‘we anticipate prices will continue to increase over 2017 as households take advantage of record-low mortgage rates and an improving economic outlook.’

Why invest in property in Manchester?

Manchester is a solid investment choice and offers big buy-to-let returns, and despite the rise in house prices, is an affordable place to live.

With four universities, Manchester boasts a large student population, many of whom choose to stay and build a career after graduation. The city has a lot to offer, with regeneration transforming the city over the last few decades.

And, there are job opportunities aplenty. MediaCity’s opening has created thousands of jobs in the area, boosting the economy and the city’s desirability as a place to live.

Property in Manchester

Having overtaken Birmingham as the public’s choice as the UK’s second city, property in Manchester is in demand, in particular, X1 MediaCity, Salford’s iconic waterfront development.

The development consists of furnished apartments with fully fitted kitchens with integrated appliances, spacious bedrooms, fitted chrome en-suites, and open-plan living area.

Already home to the BBC and ITV, this landmark development is located in the midst of MediaCityUK, adding to the £1.4 billion of investment that has made this part of the city one of the key growth areas in the country, and an excellent investment opportunity.

Looking to buy a property in Manchester? Call our team today on 0161 935 8491, or get in touch via email at Manchester@kh-estates.com.