15 Jan

Manchester set to be hotspot

Manchester set to be hotspot

New research suggests Greater Manchester could be set to undergo a period of strong economic activity.

A study by Oxford Economics for the thinktank New Economy is predicting the northern city will see its population increase by 128,000 by 2024.

This will have an impact on the desirability of the region and there could be a growth in the number of people looking at property for sale in Manchester.

It is also forecast there will be an 110,000 extra jobs created in a whole range of sectors, including professional, associate professional and technical areas.

It is also likely this could lead to an increase in the number of new homes being built, as well as boosting demand for existing properties - something that may appeal to buy-to-investors.

Speaking to the Manchester Evening News about the research, chief executive of Manchester City Council Sir Howard Bernstein said: "It shows what the inherent economic potential of Manchester and the wider region actually is.

"Commercial professional services, widening the business base around technology, increasing science and culture-related activities - they are all part of what has been going on and what we have been doing for the past five years.

"This model suggests we are intensifying that trend."

An increasing population may also lead to improvements in the city's infrastructure. A number of projects are already underway with the expansion of the Metrolink tram network and the possible connection to London and Birmingham via the High Speed 2 rail line.

Key growth areas are expected to be Salford and Trafford, which have both seen increases above the national average over the past few years.ADNFCR-1222-ID-801770316-ADNFCR

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