Minister for the Cabinet Office Jeremy Quin recently made an exciting announcement that has caught the attention of property investors in Manchester. More than 1,000 government roles have made their way from the bustling streets of London to the vibrant city of Manchester. This relocation has been made possible by the establishment of new Hubs across the UK, with the new First Street Hub becoming the new home for over 2,500 civil servants, including 700 roles that have been relocated from London.

Since the programme began, over 1,000 government roles have been successfully moved out of the capital and into Manchester. What’s even more encouraging is that recent figures have shown that around eight out of ten of these roles have been filled by local individuals. This not only supports the growth of the job market in Manchester but also contributes to the economic development of the city.

The positive impact of the Government HQ relocation is expected to extend beyond just job creation. Government modelling suggests that this programme could provide an economic boost of anywhere between £260m to £1.4bn across the country. In fact, relocation studies have indicated that for every 1,000 roles relocated, there could be a local economic benefit of £30 million.

This exciting development demonstrates the government’s commitment to decentralisation and regional growth. For property investors, it presents an excellent opportunity to capitalise on the rising demand for housing in Manchester. With the growing job market and the promising economic prospects, investing in Manchester’s property market, especially around the Government HQ, could yield significant returns on investment.

UK’s third fastest-growing economy

If you’re considering property investment in Manchester, you’ll also be glad to know that the city has a thriving job market. In fact, according to recent forecasts, Manchester is set to have the third-fastest economic growth of all UK towns and cities between 2024 and 2026. Its economy is expected to see an annual average growth of 2.5% during this period, outpacing the national growth rate of 2.1%.

What’s even more impressive is that Manchester is predicted to experience the fastest rate of employment growth of any UK town or city from 2024 to 2026. Job numbers in the city are forecasted to grow by 1.8% per year, compared to the national average of 1.3% and the North West average of 1.2%.

This positive outlook is supported by expectations for key sectors such as professional, scientific and technical, as well as financial and insurance activities. These industries are expected to contribute significantly to Manchester’s job market growth.

By 2026, the Gross Value Added (GVA) in Manchester’s local economy is expected to be £2 billion larger than in 2022. This indicates a strong and sustained economic expansion, providing ample opportunities for property investors seeking to capitalise on the growing job market. So, if you’re looking to invest for income and build long-term wealth, Manchester is definitely a city to consider.

Manchester’s booming property market

With the growing job market in Manchester, the demand for housing is on the rise. This presents a lucrative opportunity for property investors looking to capitalise on the city’s booming property market. From studios to spacious houses, all types of properties are needed to accommodate the influx of workers. And while property construction in Manchester is already flourishing, there is still room for more development to meet the growing demand.

View our latest Buy-to-Let Properties in Manchester.

What makes investing in Manchester even more enticing is the continuous increase in property values and rents. As the city experiences economic growth and attracts more businesses and professionals, the demand for housing will only continue to climb. In fact, according to JLL, Manchester is on track to be the UK’s best-performing property market over the next five years.

So, if you’re a property investor looking for a city with a thriving job market and a booming property market, look no further than Manchester. The opportunities for maximising returns on investment are abundant, and with the city’s positive economic prospects, your investment is sure to yield significant rewards. Don’t miss out on the potential benefits that Manchester’s property market has to offer.

Contact Fabrik Property Group for more information about investing in Manchester.

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