Mortgage Market Update

A new research by JLL on the property markets of Manchester, Birmingham, Leeds, Bristol, Edinburgh and Glasgow showed that Manchester was number one amongst the 6 cities in rental growth of 19.6% and the second highest in sales growth at 4.9%

The study cited the demand coming from both domestic and international students as well as young professionals. Manchester has been very successful in retaining new graduates to stay and work in the city. Louise Emmott, managing director at Kingsdene, which worked with JLL on the research, said: “Over the past few years we have seen enquiries for properties in the city centre across both sales and lettings rise dramatically. As our research shows, this has been primarily driven by students and young professionals, but we’re also seeing more families choosing to stay in the city centre for longer, which is creating even greater competition.”

Another reason for the increase in prices is the inability of developers to keep up with the high demand. “What has become clear through our analysis is that neither the sales nor rental market is currently able to keep up with demand. With fewer landlords entering the market, and the rate of new builds slowing, government intervention is needed to restimulate the market and ensure that there are enough homes for the people that need them.” said JLL director of UK residential research,

• As our research shows, this has been primarily driven
• As our research shows, this has been primarily driven