Manchester city centre residential property sales climb 56%

Residential property sales in Manchester city centre have risen by 56% year-on-year in H1 2018, according to the latest figures.

Property agent JLL’s residential team in Deansgate, Manchester, agreed sales on 195 city centre apartments, including both newly built and established schemes, compared with 125 in H1 2017.

The resale market experienced strong momentum in the first half of 2018, with a 60% growth in sales compared with H1 2017.

In addition, JLL also experienced a 36% rise in buyers registering with its resale team.

On average, properties took 44 days to have an offer accepted.

Louise Emmott, residential director at JLL, said that Manchester’s residential market had continued to strengthen over H1 2018.

“The pull factors of being the most important regional economic hub in the UK and having an increasingly popular culture and leisure scene are keeping demand for city centre living high,” claimed Louise.  

“The resale market has been particularly strong this year, driven by Manchester’s high graduate retention rate – second only to London  – and the fact that we’re seeing more young professionals relocate from the South to get on the property ladder.”

In February, JLL claimed that house prices in Manchester city centre were set to increase by 6.5% in 2018 and predicted a 22.8% growth by 2022.

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