With Manchester an increasing focus for global investors, let's take a closer look at developments in the heart of the UK’s second city.

 

Investors with an interest in UK property will be well aware of the excellent market conditions in Manchester. While Greater Manchester presents a number of strong investment options, with Salford and its booming quays business district a particular favourite, Manchester city centre remains one of the city’s best locations in terms of investment potential. 

 

Central economy 

 

Economic growth is looking very positive across Greater Manchester, with 3.5% annual GDP growth forecast, and foreign direct investment is incoming at an unprecedented rate – 65 of the FTSE 100 and some 2,000 foreign-owned companies now have a base in Manchester. 

 

Much of this growth is focused on the city centre. This relatively small area contributes 22% of Greater Manchester’s Gross Value Added (GVA) and is now home to 40% of the city’s employment base having seen over 40,000 jobs created since the 1990s. 

 

This has been driven by the rapid expansion of several business sectors. Manchester’s financial and professional services sector is now the largest in the UK outside of London. Meanwhile the life sciences, healthcare, new media, digital and creative sectors have also recorded excellent growth in the heart of the city. 

 

Urban attractions 

 

The city’s strong economy has been a major driver of the high population growth across the region, with Greater Manchester’s population up 7% to 2.71 million in the decade to 2013, and a further 128,000 new residents expected by 2025. The rising global trend for urban living hasn’t passed Manchester by either, with people flocking to the city centre at an even higher rate. 

 

The City of Manchester recently surpassed half a million residents having been identified as the UK’s fastest growing city in the 2011 census. While this growth is set to continue, with a further 50,000 new residents forecast to arrive over the next ten years, the urban core itself been recording growth at an even higher rate. Once a purely commercial and retail hub, Manchester city centre is now home to over 25,000 people, representing a quadrupling of its population over the last two decades.