Manchester's Economy Poised for Success: Third-Fastest Growth in the UK Expected Between 2024 and 2026

Manchester is forecast to experience remarkable economic growth, positioning itself as a key player in the UK's economic landscape. According to EY's latest regional economic forecast, Manchester is set to be the third-fastest-growing city between 2024 and 2026, with an annual average growth rate of 2.5% measured by Gross Value Added (GVA).

Manchester's on the Rise: Exciting 2.5% Growth from 2024-2026 Offers Prime Opportunities for Buy-to-Let Property Investment

Manchester's economic prowess is underscored by the forecasted annual average growth rate of 2.5% between 2024 and 2026, surpassing the national growth rate of 2.1%. Only Reading (2.7%) and London (2.6%) are anticipated to outpace Manchester in economic expansion during this period. The North West region is also expected to bounce back, with an annual average growth rate of two percent, a significant recovery from the previously forecasted contraction of 0.7% in 2023.

Manchester Employment Boom: 1.8% Growth Annually 2024-2026

Manchester is poised to lead in employment growth, with job numbers projected to increase by 1.8% per year from 2024 to 2026. This surpasses the national average of 1.3% and the North West's expected 1.2% growth. Liverpool, while slightly below the national and regional averages in economic growth, is forecasted to have job numbers growing at a commendable rate of 1.3% annually between 2024 and 2026.

Thriving North West Economy: Manchester's Positive Outlook and £2 Billion Growth by 2026

The North West is expected to boast the fastest-growing economy in the region, fueled by key sectors such as administrative and support services, as well as information and communication. Manchester's positive outlook is further reinforced by expectations in the professional, scientific, technical, and financial and insurance activities sectors. By 2026, Manchester's local economy is predicted to witness a £2 billion increase in GVA compared to 2022.

EY's Stephen Church on Boosting Growth: Collaboration, Clear Strategies, and Smart Investments for Property Success in the North

Stephen Church, EY's North market leader, emphasises the importance of collaboration between the public and private sectors to ensure inclusive growth across the North. Church encourages the development of clear regional strategies tailored to each area's strengths and attributes, underlining the significance of the right sector mix and investment in high-value sectors and skills.

Conclusion: Manchester's Booming Economy Presents Golden Opportunities for Property Investment and Buy-to-Let Ventures.

Manchester's economic outlook is undeniably positive, offering lucrative opportunities for property investment and buy-to-let ventures. As the city emerges as a growth leader, investors may find strategic advantages in aligning with the flourishing sectors driving Manchester's economic surge. However, it is crucial to acknowledge the varying trajectories of different towns and cities within the North West and to stay informed about the broader economic landscape for informed decision-making.

Explore our range of Manchester buy-to-let property investments to capitalise on Manchester's booming market.