A newly released report from Oxford Economics has revealed that Greater Manchester’s economy is currently thriving, surging well ahead of the rest of the nation.
Highlighting the now ‘stagnant’ position London is often referred to as being in, the report by Oxford Economics analysed the issues holding the London property back, which is a stark contrast to Manchester.
The report stated: “Greater Manchester’s productivity has notably outstripped the rest of the country, driven by strong growth in the city centre and in some of the most productive sectors of its economy.Given the growing importance of knowledge-intensive and advanced service sectors globally, UK city-regions such as Manchester should be well-positioned to continue their strong growth rates.”
Manchester is one of the leading UK cities for property investment, attracting demand from investors across the globe. Developments such as Vita Living Circle Square in Manchester are highly sought-after, thanks to the strong occupancy rates and yields.
