The population of Manchester is also expected to rise to 600,000 in the next two years, as the city’s council outlines a range of economic statistics and projections in its annual State of the City report. With the rapid rise in the city’s population, property investment in Manchester could be a great opportunity.
- Over 19,000 more people live in Manchester’s two most central city centre wards today compared with 2004.
- The wider city centre area was expected to house 65,200 residents by mid-2019, an increase of 5,000 in 12 months.
- Some job sectors are also forecast to record a 50% rise in new job numbers by 2025, as Manchester’s growing population underlines the need for more city centre apartments and developments.
New figures reveal the rapid pace of growth of Manchester’s population.
The total population of Manchester is set to breach the 600,000 mark in two years’ time, according to the 2019 State of the City Report from Manchester City Council.
It was expected that 65,200 people would be living in the city centre by mid-2019. This represents an increase of 5,000 residents in the city centre over figures from mid-2018.
Looking back further, the numbers reveal the true extent of growth in Manchester city centre, and indeed the desire to live there. In 2004, just 10,315 lived in what is now Deansgate and Piccadilly, the two most central council wards. Over the last 15 years, that number has risen by 185%.
A significant rise in the number of businesses operating in the city is driving job growth across Manchester. Some sectors are expecting to see up to a 50% increase in new job numbers by 2025. The fastest-expanding sectors include cultural, creative and digital, construction, retail and business and finance.
Research suggests that Manchester’s population is rising at 15 times the rate new homes are being built at – underlining the continued need for more new developments in the city centre districts where residents want to live.
By 2022, residential housing delivery in Manchester is expected to meet just 25% of annual demand.