Monthly Archives: May 2018

What are the Cheapest areas to rent a flat in Greater Manchester?

 

Image result for manchester cheap rent

 

Much of Salford borough itself is cheap, but often isn’t such a great place to live. Yet most of the places which are a bit nicer andcheap tend to be much further out. It really depends on exactly where in Salford you need to be, how you mean to travel, and whether you’re happy with a bad area. Public transport isn’t cheap, so if you’re expecting to keep costs low, you want to be near enough to walk or bike.

Seconding the advice that Salford is cheap, but that tends to be for a reason. However, moving further out will increase your transport costs and while the options for getting there are plentiful, some are easier than others. Areas that are considered nice are Didsbury and Chorlton, they usually have a few house shares for young professionals that might squeak into your budget. You should also be able to get the tram from those areas into Salford, but be aware that it gets more than a bit busy at rush hour. Failing that, you could look at Old Trafford, Stretford and Urmston. Sale and Altrincham are also on the tram line and the right side of south Manchester to get to Salford fairly easily, but might cost a little more. Fallowfield is popular with students but avoid Moss Side at all costs.

Mr Fearnhead’s company is a property crowd-funding platform, which has eight sites across Greater Manchester developing housing.

He believes “forward-thinking councils” encourage development, helping provide more affordable housing, but argued that some councils “discourage development”.

Market forces, he added, should be left to themselves because if nobody could afford to buy a property the price would come down.

Why are fewer people buying homes in Greater Manchester?

 

Gorton Manchester

 

The 2011 Census data shows the city of Manchester moving towards smaller average household sizes, with more single people aged under 65 and a relative decline in the number of households made up of families with children.

This means the average household size is set to be lower over the next decade and, with the increase in private sector renting, more transient, it added.

Frazer Fearnhead, CEO of The House Crowd, said Manchester had a large graduate population in apartments across the city centre.

“They are mostly lived in by young professionals who choose to rent,” said Mr Fearnhead.

“We are not comparing apples with apples [previous decades]. There is a lot less pressure to get married and have children and therefore there is less desire to buy family homes.”

Ian Waxman, MD for estate agent PAD Residential said Manchester was a “destination city” that people want to live in.

He said young people liked to rent because it was a “quicker transaction” and it gave them “flexibility in the job market”.

 

During the EU referendum campaign Brexit-backer Iain Duncan Smith said the UK would need to build 240 houses a day for 20 years to cope with increased demand. That claim was substantiated by the BBC.

Mr Fearnhead believes that Greater Manchester mirrors the rest of the country in the fact there are not enough houses being built, fuelling a demand that pushes up prices.

A recent report from the Greater Manchester Combined Authority said up to 217,000 houses would be needed by 2035 to meet demand. The current rate for completion is 6,000 a year.

Greater Manchester’s interim mayor Tony Lloyd said: “To reverse this trend [on home ownership] we know that we have to build more homes and ensure a better mix of housing that enables all of our residents to find a home they can afford in an area where they want to live.”

He called for the government to fund affordable social renting, not just owner-occupier schemes.

Land needed to be made affordable, he said, because not all brownfield sites are feasible without investment – and funding and support is needed to develop on them.

Mr Lloyd said: “In Greater Manchester we are  taking action with the powers we have but more must be done by central government to enable us to build the homes Greater Manchester needs now and in to the future.”