News

Counting cranes – and what it means for buyers.

According to the latest tally there are currently 40 tower cranes dotting the Manchester and Salford city centre skylines.

They represent 40 different residential developments that together will eventually deliver 10,717 new homes.

The full timescale and numbers can be seen here along with some interesting charts that map Manchester’s growth since 2002: https://www2.deloitte.com/uk/en/pages/real-estate/articles/manchester-crane-survey.html

It’s a huge amount of construction activity and again confirms the continued popularity of Manchester’s city core and the steady increase in the number of new city centre residents.

Yet despite all the cranes there is currently a big issue with supply with buyers often struggling to find a new build apartment in town.

Why?

Well last year, 2021, the city centre saw 5,500 new homes completed – big schemes such as Castlefield Wharf and Crown Square, met a lot of the demand but were soon snapped up.

This year, 2022, we expect to see just 2,200 properties completed, most of which have already been pre-sold overseas or which are in dedicated PRS schemes not available to private buyers.

So what can buyers do? Well the team at Reside will try to help.

Some of the apartments sold off-plan when buildings began years ago will come back to the market as buildings complete and we keep in close contact with developers and investors to make sure we know about them.

We work with some of the smaller developers like Prestbury Estates who are building 24 apartments in Castlefield that will be finished early next year and we can offer advice about buying off plan.

The Chambers in Chapel Walks is tucked away just off Cross Street and the developers SPS are aiming for completion later this year.

And we currently have six two bedroom apartments available for sale in Deluna at Ancoats which will be ready to move into this summer. Prices from £282,500.

We pride ourselves on having some of the best re-sale apartments in the city and currently have a wide selection on our books for buyers to choose from, from a two bedroom two-bathroom apartment on Princess Street at £210,000 to a stunning penthouse at Media City for £800,000.

If you want to buy a city centre home then speak to our team who will make sure you are in the very best position when the right property comes to market.

Call us on 0161 837 2840 or drop us a line: info@residemanchester.com and we will be back in touch.