Lettings company, Manchester Apartments, has recorded more than 50,000 enquiries for city centre apartments during the third quarter of 2022.
This has led to a 47% increase in tenancy agreements for the same autumn lettings period as last year.
Manchester Apartments recorded this huge jump in enquiries – typically 10,000 a month – and is now only taking bookings for autumn 2023.
The company puts this huge demand down to international communities desiring cities like Manchester over London and non-negotiable demands to fix all costs with utility bills included in monthly rents.
With a portfolio of more than 900 units in Manchester centre, almost a quarter of lets were secured from China and the UAE – again, demonstrating Manchester’s huge appeal to young professionals and students from these territories.
Jonathan Griffiths, director at Manchester Apartments, said: “Let’s just say it’s been a very busy period for us.
“What’s really exciting is that we have a rebooking rate of 69%. This demonstrates to us that people are very happy with the high quality of our apartments and the service they receive.”
He added: “London is losing 80 young people every day to regional cities and Manchester Apartments’ billing structure is in high demand as it can set fees well below market rates due to bulk buying energy, therefore we’re supporting tenants to manage rising costs of living by fixing a substantial part of their outgoings.
“I believe Manchester’s appeal is growing in comparison to London’s demise. This city has so much to offer young professionals and graduates – excellent jobs, great community, exciting lifestyle and on the whole, exceptional housing.
“Mancunians are so welcoming too, that’s why we believe such a high number of our tenants are from China and the Middle East.”
Other interesting statistics concerning specific demands from tenants show that compact apartments, including studios and one-beds, are the first to be taken and rank the highest for organic website traffic.
Apartments with amenity within the building or in the immediate vicinity are also in high demand.