Economic Centre of North England
Manchester is the heart of the Northern Powerhouse and one of the fastest growing cities in the UK, second only to London, with a total GVA of over £62.8 billion. Manchester is also recognized as the number one city for digital technology outside London in the UK. More than 10,000 world-renowned companies, including Google, Microsoft and IBM, have settled in the city. Manchester is also the headquarters of many UK unicorn companies.
The Cradle of Education in the North of England
There are five universities in Manchester, with more than 100,000 students (36% international students) and more than 40,000 graduates each year, more than half of whom choose to work in Manchester after graduation. Among them, the University of Manchester is well known overseas. In the QS World University Rankings 2022, the University of Manchester was ranked 6th and 27th in the UK and the world respectively.
World-Class Liveable City
Manchester is a leading post-industrial city and is one of the top cities in the UK and the world in terms of liveability; in 2019 it was ranked 38th in the Economist Intelligence Unit's annual global liveability index. The local transportation network is well developed. In addition to buses and railways, the light rail system also connects the city centre and surrounding districts. Manchester is also known throughout the world for its music, performing arts and sports, attracting many people to study, live and visit.
Key Infrastructure Developments
In recent years, Manchester has developed various urban infrastructure projects in the city, including MediaCityUK, a mixed-use development that attracted media companies including BBC and ITV to establish their regional headquarters in the city. Manchester Airport also completed the expansion of its Terminal 2 in 2021. Various districts such as New Islington, NOMA, Spinningfields and Salford will be further developed to attract new talent and enterprises. In the future, with the opening of the HS2 high-speed rail link, the travel time to London will be cut almost in half.
Residential Property Prices Continue to Rise
Residential transactions in North West England, including Manchester, are hot, with the region remaining one of the country’s investment hotspots during the pandemic. Research consultants predict that residential property prices in the region are expected to rise by more than 18.8% over the next five years (2022 - 2026), more than three times the expected price rise in London. The market also predicts that residential rents in the region will increase by up to 23.5% by 2026.
