Rightmove has recently reported a dramatic increase in buyer and rental demand for apartments in city centres, as the country continues to phase out of lockdown restrictions, and 65% of the population have received at least one vaccination dose.
Rightmove found that apartments in city centre locations had the most significant increase in buyer and rental demand over the last month compared with other property types. The number of users who requested viewings and further information for city centre apartments rose by 39%.
As offices begin to reopen and Covid restrictions continue to ease, the appeal of living in the city centre has reached new heights, with tenant demand across the country’s major cities dramatically increasing and demand in Manchester by 5% alone, according to Zoopla. Student demand in the city has also increased dramatically as students across the country prepare to return to their studies in person from September 2021.
Tim Bannister, Rightmove’s Director of Property Data, said, “These are early signs, but they certainly point to some good news for city centres across Great Britain.”
As the country has returned to their local high streets and attractions, the market has seen a reignited interest in living close to the city’s amenities and attractions, as well as the convenience city centre living can provide. With 65% of workers set to return to the office in July, demand for apartments close to cities’ financial and business hubs is high, with rents in Manchester city centre already increasing by 10.2% throughout lockdown.
If you are looking to purchase property for investment purposes or learn more about the increasing tenant demand in Manchester, contact our expert team today.