13 Jun

Manchester congestion charge 'could benefit property market'

Manchester congestion charge 'could benefit property market'

Although it is unlikely to be welcomed by motorists, Manchester's new congestion charge should benefit the city's property market, the property editor of BuyAssociation has claimed.

Paul Collins stated that the proposals for an improvement public transport services to accompany the charge is likely to lead to an increase in house price.

He noted that Manchester is a "special case" as there is a large amount of property supply due to come onto the market in the near future.

"If it's a lot easier for people to get to their properties and to get around the city by public transport, then that's obviously a great thing for the properties that are being bought and the people that have already bought there," Mr Collins said.

The Manchester congestion charge is set to cover both the city centre and the greater urban area during peak times. Those proposing the charge say the money will be used to fund improvements to the public transport network, including the tram system and buses.

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