Buying a Home in Manchester: Discover the “New London” Before It’s Too Late

At Longrad, our expertise is deeply rooted in London. Since our founding in 2005 as an independent real estate consultancy, we have focused on securing the best property opportunities for our clients. London has always been our home, our passion, and the market we know better than anyone. However, being deeply committed to London does not mean ignoring reality. Sometimes, rare investment opportunities arise, and when they do, we dive in. Manchester is one of those opportunities.

For years, we monitored the city, but for us (and many of our investors), it seemed like a doubtful choice. Yes, it was the UK’s second-largest city, but it lacked the scale, ambition, and energy of London. Comparing the two felt almost absurd — Manchester lagged behind in almost every way.

That changed dramatically after the pandemic.

Before COVID-19, Manchester’s economy grew at an average of 3.4% per year. In 2021 alone, growth soared to 8.4% — a clear indicator that the city was not only recovering but accelerating at record speed.

The post-pandemic shift

The rise of remote work led thousands of professionals to reconsider where they wanted to live. Manchester became the perfect compromise: London salaries + Manchester property prices = significantly improved quality of life.

A flood of skilled professionals and entrepreneurs moved to the city, seeking better work-life balance. Surging demand for housing — the property market began to grow at an unprecedented pace.

What’s even more remarkable? Rather than returning to London after restrictions ended, many professionals made Manchester their long-term home. This suggests that Manchester offers far more than affordable housing — it provides long-term career prospects, quality of life, and economic stability.

The numbers confirm it: 70% of graduates from the University of Manchester remain in the city after completing their studies. Manchester is no longer just a stepping stone — it is a place to build a career, a family, and a future.

Why Manchester?

When the pandemic triggered an influx of new residents, we began tracking the city’s trajectory even more closely. Year after year, Manchester proved that this surge in interest was no coincidence. Today, when we talk about Manchester, we are referring to a vibrant and rapidly expanding economy, not just a city.

1. The UK’s second largest economy

With an annual economic output of £80 billion, Manchester has firmly established itself as the UK’s second-largest economy. It has also become Europe’s fastest-growing tech hub, with a staggering 277% increase in tech investment in just one year — a magnet for global businesses and start-ups.

2. Education & talent retention

Home to one of the UK’s largest universities, the University of Manchester, the city attracts over 100,000 students each year. Moreover, the presence of more than 80 FTSE 100 companies provides graduates with strong career prospects, ensuring that young talent stays in Manchester rather than moving elsewhere.

3. Future growth outlook

By 2040, Manchester’s population is expected to grow by 40,000, with 65,000 new jobs created, driving sustained demand for housing and continued property value appreciation.

4. A well-connected transport hub

Manchester is one of the UK’s major transport hubs, offering seamless national and international connectivity. A two-hour train ride to London makes it highly accessible, while Manchester Airport provides direct flights to key global cities, including Singapore, New York, Doha, Dubai, and Hong Kong.

Investing in Manchester property means not only diversifying your portfolio but also becoming part of a city that is actively shaping the UK’s economic future. With strong growth indicators, a thriving job market, and a strategic location, Manchester is a city on the rise — one that presents a rare and time-sensitive investment opportunity.

Why Invest in Off-Plan Properties?

Many will remember what London was like 15–20 years ago — a city experiencing a property boom similar to what we see in Dubai today. At that time, a surge in new-build developments led to rapidly rising property prices, with values increasing almost daily. Investors would purchase entire blocks and resell them before even completing the transaction, securing significant profits simply by transferring ownership rights.

In recent years, Dubai has followed the same trajectory — high demand, large-scale construction, fast off-plan resales, and impressive price growth. We believe Manchester is now at the same stage as London was back then. The only question is: who will take advantage of this opportunity in time?

In the past few years, Manchester has seen billions of pounds invested in infrastructure to support its ambition of becoming the UK’s second capital. Modern residential districts, high-rise buildings, cultural spaces, and new business hubs are reshaping the city, striking a perfect balance between heritage and innovation.

Among the most attractive investment options are off-plan properties — units purchased during construction, often at below-market prices.

• The initial deposit for such projects starts from £60,000, making them accessible to a wide range of investors.
• By purchasing property at the construction stage, you are investing in an asset that could appreciate by 20–30% upon completion. This means your profit begins before the property is even delivered.
• Once the project is completed, apartments are quickly rented out, as Manchester is known for its high rental yields, averaging 6–7% per year.
• Off-plan developments in Manchester feature cutting-edge infrastructure designed to meet the needs of a new generation. Many modern residential complexes include gyms, co-working spaces, parking, retail shops, and leisure areas.
• We partner with highly trusted and reputable developers, providing flexible payment plans that allow investors to postpone the majority of the payment until after construction is completed.

And finally — why invest now?

Beyond everything mentioned above, the macroeconomic landscape is another key reason to act now. Many of you have likely heard the latest announcements from UK Chancellor Rachel Reeves. Last week, it was revealed that the Financial Conduct Authority (FCA) is considering easing restrictions on mortgage lending, which could significantly improve access to property ownership.

Under the proposed plans, banks would assume greater lending risks, allowing buyers to secure mortgages covering over 90% of a property’s value.

What does this mean for the market?

• Increase in first-time buyers – more people will be able to access the housing market, driving demand.
• Rising property prices – as mortgage accessibility improves, property values tend to rise quickly.
• Manchester is the biggest beneficiary – London property prices have already reached an affordability ceiling for many buyers, making Manchester the logical choice for those seeking value.

The UK property market is undergoing a period of rapid transformation — rising demand, increasing prices, and a shrinking pool of early-stage investment opportunities.

Manchester remains one of the few cities where investors can still enter the market at an attractive price. However, this window of opportunity won’t last forever. Each new development drives property values higher. In just a few years, Manchester could not only match London in growth potential but also in pricing.

Whether your goal is rental income, securing property for your children, or building long-term capital, Manchester offers rare investment opportunities that are difficult to ignore.

We would be happy to guide you through the details and help you find the best off-plan projects with maximum growth potential. Contact us today for a personalised consultation — don’t miss this moment!

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info@longrad.com
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