Manchester Report

In contrast, only 13% of the city’s residents are
older than 60, while the national average is just
above 22%. Population projections from the
Office for National Statistics (ONS) suggest that
Manchester’s population will increase by around
12% over the next 20 years, compared to a 10%
rise in the Greater Manchester area.
Greater Manchester has one of the largest
student populations in Europe with over 105,000
students across four universities: Manchester
University, Manchester Metropolitan University,
the University of Salford, and the University of
Bolton. In addition to the four universities in the
city region there are a further 18 universities and
higher education institutes in the North West,
making for an additional population of around
515,000 students in the surrounding areas. In the
academic year 2014-15, Manchester University
had the second highest number of foreign
students (12,215) among UK higher education
establishments.
Planning
Manchester’s Core Strategy was adopted in July
2012 and is the key document in the Manchester
Local Plan. It sets out the long-term strategic
policies for Manchester’s future development
and covers the period from 2012 to 2027. The
Regional Centre will be the focus for economic
and commercial development, retail, leisure
and cultural activity, alongside high-quality city
housing. The growth of Manchester Airport will
act as a catalyst for the regional economy, and
will also provide the impetus for a second hub
of economic activity in this part of the city.
Manchester also forms part of the Government’s
Northern Powerhouse initiative. Linked to this
scheme, the Greater Manchester Devolution
Deal will give new planning powers to local
government in order to encourage regeneration
and development, including a new £300 million
fund for housing and greater control over local
transport planning.
Manchester city centre is defined as the area
inside the Inner Relief Route and extends to the
south to encompass the Oxford Road Corridor.
The City Centre also includes Chapel Street,
within the administrative boundary of Salford City
Council, and the two city councils continue to work
together to build a strong shared strategy for city
centre regeneration. The City Centre Strategic
Plan sets out a long-term vision for the future of
the city centre, which will see the most intensive
development of housing in Manchester. Key
locations for residential development have been
identified as Castlefield, Piccadilly, the Southern
Gateway and the Northern Quarter.
Residential Market
Demand
Manchester had a total of 217,240 homes
according to the 2011 census. Owner occupation
(37.8%) is way below the national average
(63.3%), and the number of households renting
privately (28.4%) well above the national average
(16.8%). In addition to normal household
demand, the large corporate and student
sectors also make the city popular with investors.
The University of Manchester and Manchester
Metropolitan University have more than 64,000
students between them, with many living in the
City, equating to 12.5% of the City’s population.
Residential sales in Manchester have averaged
just over 6,800 per annum over the past decade.
As in the rest of the country, transaction numbers
have not recovered to the levels seen in the preglobal
recession peak but have improved steadily
over the past three years. In 2015 a little over
6,700 transactions were recorded, just over 50% of
the 2006 peak of just over 13,000, though almost
in line with the ten-year annual average.
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