Supply and Demand in the Manchester Property Market
Home.co.uk reports that the number of homes for sale in Manchester has fallen by 70% since 2008.
In January 2008, there were a total of 13,334 homes on the Manchester property market, and yet latest figures from June 2016 are just 3,960. Two bedroom properties, in particular, have decreased 75% from 5,522 to 1,363.
The figures in Manchester echo the national drop in supply, with a 51% fall in properties on the market in England and Wales over the last eight years, down from 855,585 in April 2008 to 415,038 in April 2016.
So what does this mean for investors?
Well, for those looking to scoop a property investment in Manchester, it’s best news for the buy-to-let sector. As the city continues to demonstrate a shortage of supply, its popularity for property investment is steadily increasing.