HS2 (High Speed 2) is a GBP56 billion planned high-speed railway designed to enhance the United Kingdom’s north-south connections. The project already looks set to bring positive impact on Manchester, the heart of the Northern Powerhouse region, in a number of different ways.
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According to a recent report, around 5 million UK households, or 21% of the total, are in private rented accommodation. This is set to rise to 5.79 million (or 24%) over the next five years.
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New research has found that as cities such as Manchester, Birmingham, Nottingham and Edinburgh develop their travel network, house prices in the immediate areas increase, with an emphasis on growing tram links.
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Hong Kong properties are among the most expensive in the world. While a 188-square-feet parking space costs HK$5.18M (£518,000 as of 20 June 2017) here, with the same amount of money, you could buy three or four reasonable size city centre properties in the United Kingdom.
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With Manchester's rapid population and economic growth, along with one of the lowest housing supplies in the country, JLL forecasts that Manchester 'will once again be the market to watch in 2017'.
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In line with the government's Northern Powerhouse Scheme to empower and strengthen the northern cities as a whole, the first ever mayor of Greater Manchester has been elected in Andy Burnham. By some measures, Burnham will now have more power than the mayor of London.
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Manchester's economy performed strongly in the last three months of 2016, putting it into the top three of the fastest growing UK cities.
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