According to analysis of the latest official figures, Manchester’s population is growing nearly 15 times faster than the number of homes being built.
Low levels of housebuilding in Greater Manchester combined with a rapidly growing population is likely to exacerbate the housing shortage over the next few years.
According to the figures, 290 new homes were built in 2015-16, a growth rate of just 0.13%, compared to population growth of more than 10,000 people, a growth rate of 1.94%.
This means that growth in the supply of homes in Greater Manchester is lagging far behind population growth, and is a disparity only beaten by Westminster and Kingston-upon-Thames in London.
Looking at the whole of England, rates of housebuilding were only marginally behind population growth, with the number of homes in England increasing by nearly 145,500 in 2016, a growth rate of 0.62%, compared to the number of people increasing by nearly 470,000 people, a growth rate of 0.86%.
If you’re a first-time buyer longing to get onto the property ladder, or an investor looking to benefit from capital growth, call our sales team on 020 8688 6552 to enquire about our Greater Manchester development, Fabrick.
Two minutes’ walk from Cheadle Hulme railway station for a 16-minute journey into Manchester City Centre, Fabrick will comprise 184 studio, one and two bedroom apartments offering micro living and a macro lifestyle with class-leading features such as Smart NEST thermostats, 1 Gb Hyperoptic broadband, granite worktops and designer bathrooms. Residents will also enjoy access to a stunning range of communal facilities including WiFi-ready residents’ lounge and stunning rooftop terrace complete with seating and bbq area perfect for summer parties. Prices start at £129,950.