Manchester's Property Market in 2023

Manchester's property market is booming, thanks to the high demand for residential properties in the city. In fact, according to Rightmove's 2022 report, there has been an astounding 15% increase in buyer enquiries compared to the same time last year across the UK. However, Manchester's demand for properties is even higher, with a Zoopla study revealing a 1:5 ratio between supply and demand in 2020. That's right - for every home on the market in Manchester, five people are eager for a place to call their own.

This demand has translated into the rental market as well, with the Manchester Evening News reporting a 20% annual increase in rental demand in Greater Manchester from 2021 to 2022. As a result, rental prices in Manchester are on the rise, making it an attractive investment opportunity. In fact, the five-year average property price in Manchester has increased by a whopping 36% and the 20-year growth rate is an astronomical 390%, the highest among every major UK city. With a population increase of 7.7% between 2006 and 2016 (double the UK average), it's no surprise that the demand for homes in Manchester continues to soar. Whether you're a property investor or a buyer looking for a tenant property in Manchester, the city offers consistent rental demand and huge long-term capital growth.