Manchester’s property industry has continued to go from strength to strength, solidifying the city’s reputation as a real estate powerhouse not only in the North of England, but across the UK. This reputation is set to established even further with news that Manchester has exceeded the capital in terms of housing built over the past year, setting new benchmarks for urban expansion.
According to Manchester City Council’s latest ‘Housing Strategy’ update, Manchester has completed 4,766 homes over the past 12 months. This figure outperforms all 32 Greater London boroughs combined, which collectively delivered 4,261 homes over the same period.
It is key to note that these figures play into a long-term and sustained momentum for Manchester’s property industry as well, with more than 13,500 homes being delivered since 2022. Looking ahead it has been confirmed that there are over 7,800 structures currently under construction, with a further 20,000 progressing through the planning pipeline or recently receiving approval. These figures put Manchester firmly on track to achieve its overarching target of delivering at least 36,000 new homes by 2032.
An area where Manchester continues to excel compared to other parts of the country is affordable housing, with 901 affordable homes completed over the past year, including 439 delivered for social rent. There are also a further 4,000 affordable homes in the pipeline, with roughly 1,450 under active construction.
This unprecedented level of development means great things for both property jobs in Manchester and architecture jobs in Manchester, with interesting and exciting opportunities across both industries thanks to the diversity of available projects.
When evaluating why the city’s approach to property development has been so successful, Manchester’s City Council Executive Member of Housing and Regeneration, Councillor Gavin White has stated, ‘we’ve have done housing differently. We aren’t solely reliant on private developers to deliver social and affordable housing. We are ramping up delivery by working closely with our housing partners, by accessing grant funding, and using Council-owned brownfield land to deliver the homes we need. And the results speak for themselves.’
Manchester’s ability to outpace Greater London in housing delivery is a clear testament to its proactive and clear strategic vision for their property landscape. It will be exciting to see these property figures continue to rise as Manchester moves towards its 2032 goals, setting a new gold standard in the UK for residential development.