As business in Manchester is flourishing, commercial property is continuously on the rise, likely resulting in a significant positive impact on the city’s residential property market. 

According to data published by advisors Colliers International, 806,024 square feet of space was consumed in Manchester’s commercial property sector during the first six months of 2019. This marks a 54% jump on the long-term median. It also indicates that office space in Manchester city centre has hit its highest in five years. 

These figures highlight the persistent confidence in Manchester’s economy, with the northwest city becoming a hub for businesses, boasting one of Britain’s most active commercial sectors. 

This confidence in the city’s commercial sector is subsequently good news for residential property investors in Manchester. 

Manchester’s city centre currently boasts a population which is rising 17% faster than the average in all of Britain, meaning more businesses will open offices there resulting in higher employment rates in the region, subsequently increasing the population further.  

Several new workers will search for residency in the vicinity, preferably in high-quality homes in the city centre close to their places of employment, leisure spots and Manchester’s key transport stations. 

It is estimated that by 2022, residential housing delivery in Manchester will reach only 25% of annual demand, with the increasing number of tenants in demand placing further pressure on the residential property sector, as it struggles to keep pace.