The latest market analysis by new-homes platform, Unlatch, reveals where Manchester’s new-build premium hotspots are and where, therefore, housebuilders stand to make the most profitable investments.
According to the data, in Manchester’s M5 postcode area - connecting Salford and Spinningfields - the average existing home costs £204 per sq ft. The average new-build, however, comes at a price of £338 per sq ft; a premium of 65.7%.
In M15 - South West of the city centre - the average existing home costs £259 per sq ft while the average new-build is 61% more expensive at £417. In M18 - South East of the centre - existing homes cost an average of £139 per sq ft. New-builds, however, cost £214 which is a premium of 54%.
Significant new-build premiums are also available in M6 (53%), M9 (46.9%), M46 (41.5%), M13 (37.6%), M40 (37.4%), M35 (33.1%), and M26 (32.9%).
All in all, there are 26 postcode areas in Manchester where new-build developers can benefit from premiums higher than the UK average of 11%.
Lee Martin, Head of UK for Unlatch, says: “Manchester is Britain’s most up and coming city, which we see clearly every day simply from our clients who are based and building there.
"It’s always been culturally and economically important but the recent arrival of our biggest multimedia organisations, including the BBC, means that it is thriving more than ever with a brand new, young demographic swarming the city rather than the historical migration to the bright lights of London.
"This influx of residents means that new-build homes are in huge demand among the many first-time buyers that now call the city home and this presents housebuilders with a great opportunity to build a profitable portfolio outside of London.”
