New Build Manchester: Buy a property off the plan

Demand for new builds in Manchester from students and young professionals

New builds are often one of the best property investment opportunities due to excellent affordability and high returns. This is especially true when it comes to Manchester.

Emerging as the cultural and entertainment hub of the North of England, many tech companies are now moving to this vibrant city, boosting the economy and skyrocketing its population by 26%, with employment set to grow by a further 4.3% in the next five years. Due to the city’s booming business scene, many young professionals and graduates are choosing to live and work in Manchester, increasing the demand for new builds in Manchester.

A constant continuum of young professionals are looking for new Manchester construction opportunities located in an urban environment – the city centre. Enhanced by the Northern Powerhouse initiative, connectivity in Manchester exceeds all expectations.

For investors looking for a lucrative new build opportunity in Manchester, it is the student population that remains a key driving force behind the city. Spread across four universities is a student population in excess of 85,000, a vital component when it comes to buying and renting new buildings in Manchester. The fast-changing city has the highest student retention rate after London, with a whopping 50% choosing to stay in the city after graduating. Similarly, 6 in 10 Manchester-born students who move to study return to their native Manchester on completion.

Big increase from new builds in Manchester deals

Manchester has seen the fastest growth in England and Wales, overtaking London, with its population growing by a total of 149% and an 84% increase in jobs over a 13-year period. Those who ask, “do new builds increase in value over time?” you should note that new build investment in Manchester offers one of the best prospects for capital growth.

New construction properties are being developed to match this increasingly saturated market. House price growth in Manchester is among the highest in the country, with property prices in the North West region expected to grow by 20.2% by 2028.

Manchester’s new build opportunities are growing in popularity due to their competitive off-plan pricing, making this a more prosperous and modern strategy for people hoping to secure a prosperous investment due to high capital appreciation – even before the completion date. Over the course of owning a new building in Manchester, investors can begin to see a steady increase in property value before the unit is even rented out.