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Manchester, UK
Manchester, UK
Waterside West is a collection of 108 contemporary apartments set beside Manchester’s historic Bridgewater Canal. The building completed in 2020 to meet the growing demand for quality accommodation near Manchester’s key employment hubs. With global brands such as Amazon and Deloitte expanding headquarters in the city nearby, the development offers the perfect lifestyle balance for young working professionals looking for comfort and convenience.
The city of Manchester is the economic hub of the Northern Powerhouse. As a result of the successful economic initiative, Manchester’s GVA has grown by 63% since 2000, totalling GBP41.3 billion as of 2021. The number of residents has grown from 851,780 in 2000 to 1,060,680 in 2021. By 2035, the populations is expected to increase 36% from 2000, reaching in excess of 1,154,970 residents.
The growing population has added further pressure to an undersupplied housing market. It is expected that 5,545 housing units will be completed per year between 2020 and 2031, below the average annual housing requirement of 6,515 units. Taking the previous backlog into account, an undersupply of at least 82,505 housing units is anticipated by 2035. The pressure will continue to fuel house price growth, which is anticipated to reach over 23.5% between 2022 and 2026 while rental growth sees a 15% increase.
1,154,970 forecast by 2035
+36% from 2000
undersupply of at least 82,505 units expected by 2031
over GBP41.3 billion (GDP)
+63% since 2000
+24% forecast by 2035
*Prices and details are correct at the time of going to press. Readers are advised to make their own enquiries to verify such information.
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