Northern regions of the UK are becoming a better choice than London for UK property investors, revealed a report on Friday.
Hometrack report stated that England’s northern parts such as Manchester have a better prospect for capital growth. According to Hometrack’s UK Cities Index, there was a decline in the headline growth for London, which is now 6.9% down from 7.2% a month earlier. The figures were much higher a year ago with an index of 7.9%.
Manchester has registered one of the greatest uplifts outside of southern England, with an increase of 8.3% last year. This, in comparison to the London figures, is more welcoming for property investors across the country.
Ged McPartlin, sales director at Ascend Properties, told Property Investor Today, “For years we have stressed that the Manchester property market was going to enjoy hugely positive growth, owing to affordability, widespread investment across the city, excellent transport links and employment prospects – with swathes of young professionals now choosing to make it home.
Housing Crisis in Manchester
Social media is torn between the latest Hometrack report and an article published by BuzzFeed on hidden housing crisis in Manchester. The primal focus of the article is to focus on housing crisis across the country, not just in London. BuzzFeed News spent a day with two young women suffering from housing crisis and provided an in depth perspective of the northern region suffering from the same fate as London.
You can read the full article here.
Readers took to Twitter with their opinions on the matter expressing their concern over the issue.
Loz Kay, a Manchester campaigner, questioned the Manchester Labour party’s decision to not support affordable housing by tweeting “Which is odd, given the Manchester Labour party does not support affordable housing in the city centre, + cllrs tell me it is not viable”
Which is odd, given the Manchester Labour party does not support affordable housing in the city centre, + cllrs tell me it is not viable. https://t.co/nWSK9XPvEc
— Loz Kaye (@LozKaye) February 27, 2017
Another user tweeted the BuzzFeed article to help spread the message of housing crisis in Manchester.
— ResolutionFoundation (@resfoundation) February 27, 2017
@andyburnhammp what happens to abandoned and derelict housing in and around Manchester?
— Grimsace (@151cobez) February 25, 2017
Northern Housing Conference
Manchester is currently holding a Northern Housing Conference hosted by VerseOne Comms, which is encouraging young people to take part. The aim of the conference is to look at the housing crisis, not just in Manchester but in the whole of the UK.
— VerseOne Comms (@VerseOneComms) February 27, 2017
Rosie Gregg, a participator of the conference tweeted “In Manchester and ready for the Northern Housing Conference”
— Rosie Gregg (@RosieGregg1) February 27, 2017
You can follow the official account for latest updates on the Northern housing conference.
Sub- Edited by Bria Woods