Presently standing at 2,577,000, Greater Manchester’s population has increased by 14% over the last century. The Greater Manchester conurbation is made up of the two cities of Manchester and Salford, and the metropolitan boroughs of Bolton, Bury, Oldham, Rochdale, Stockport, Tameside, Trafford and Wigan.

Manchester’s population is multicultural, and has an above average proportion of young people aged between 18-29, with 65% of the population being under 45 years of age.

The population of the City of Manchester itself is relatively affluent, although immediate catchment areas along the periphery including; Hulme, Moss Side, Salford and Cheetham Hill, are considered perhaps less so.
Manchester also has the largest student population in Europe with over 50,000 students choosing to study in Manchester each year.

Population growth for the whole of the UK has been revised significantly upwards, looking forward over the next 20 years. Whilst much of this growth is “weighted” quite heavily towards London and the South East, inevitably there will also be an impact upon population growth across Greater Manchester.

The economic importance of the Greater Manchester conurbation has increased significantly in recent years and this trend appears set to continue in the near future, Manchester has an enormous variety of residential housing stock, ranging from small “back to back” terraces constructed during the Industrial Revolution and throughout the Victorian era, through to large mansions constructed for their own occupation by the wealthy merchants and industrialists.

The span of residential values is equally wide, ranging from relatively low priced Victorian terraces in Hulme, for example, priced at under £20,000 to the luxury apartments and penthouses created from former commercial buildings in the city centre or newly built on the river, which have changed hands for over £1,000,000.

25% of Manchester’s employment is now derived from business services, with 25% employed in the retail and leisure industries with finance accounting for a further 17%.

Substantial numbers of young professionals are relocating to Manchester outstripping many other northern centres which means a continued strong demand from the investment market. This also gives indications of renewed confidence in the residential market.

Growth and expansion of Manchester’s retail and leisure elements now have seen the city centre mature to become a truly cosmopolitan and sophisticated urban environment. Mainstream developers have entered the market with recent purchases of sites in prime, as well as secondary city centre locations.

Average values for one-bedroom apartments typically range between £140,000 and £160,000, whilst £160,000 to £250,000 is representative of two bedroom accommodation. Exclusive penthouses, value in the range of £300,000 to £500,000, have been consistently achieved to date.