Millennial Magic! Invest in this UK property hotspot with the largest millennial population outside London
- Manchester is the UK’s leading regional creative talent market (CBRE)
- Manchester homes to highest number of millennials (CBRE)
- Growing trends from millennials for an urban waterside living (Surrenden Invest)
Research by CBRE has revealed that Manchester is proving to be the most sought after location for millennials.
According to the research, the collective characteristics of locations with creative success include pools of highly educated graduates, good transport links, proximity to world class universities and large populations of millennials.
The CBRE Top 25 has revealed Manchester as the leading city in the UK regional creative talent market by some margin and Home Track research found that Manchester continues to show the fastest growth rate of 8.4%, up from 6.3% a year ago. The city currently holds the largest number of millennials along with a pool of highly skilled and creative professionals, in addition it has the largest number of inventive industries.
Manchester also boasts links to several world-class universities with solid computer science and research rankings. As well as these admirable attributes, office, employment costs and earnings to average house price ratios have been found to be relatively reasonable. That is compared a number of South East locations and London.
“Here at Surrenden Invest we receive no end of interest in Manchester and this high demand does not look set to falter any time soon. Manchester is a very up and coming city full of creative flare, aspiration and opportunity – no wonder we have seen such an influx of young professionals! Millennials are taking over the Manchester market.
Jonathan Stephens, Managing Director, Surrenden Invest
So where are these millennials calling home within Manchester and hence, where the savvy property investors are also heading?
Jonathan Stephens of leading investment agency, Surrenden Invests, tips the newly regenerated Wilburn Basin, the point where Manchester meets Salford in the south-west of the city.
Built back in 1864, and used a mooring site on the River Irwell, the area played a key role in Manchester’s industrial heritage but as more modern methods of transportation evolved, so the area fell into disrepair. The last 3 years however have seen the three-acre deserted wasteland transformed into highly desirable waterside living with modern homes, ideal for millennials.
“We have witnessed the growing trend for urban waterside living over the past 6 -12 months, especially from young professionals looking for the perfect blend of city living and nature. Wilburn Basin adheres to this trend perfectly and was an instant hit with phase 1 of the scheme being completely oversubscribed and phase 2 selling fast as it nears completion.”
Jonathan Stephens, Managing Director, Surrenden Invest
Wilburn Basin, available through Surrenden Invest, compromises of four distinct blocks which vary in stories, all of which offer fantastic views across Manchester city. Each apartment is built to the highest specification and the residential facilities are exceptional including a 24/7 concierge, architecturally landscaped gardens and seating areas around the river basin as well as a gym, cinema, residents lounge and meeting rooms. Prices for units in the current phase 2 start from £165,000.
For more information, visit www.surrendeninvest.com or contact Surrenden Invest on 0203 3726 499.