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UK housing boom, Manchester brokers have weekly sales of £1 million

  • In the UK, Manchester’s real estate is booming.
  • Broker Anthony Stankard said that in the frenzy of the real estate market, his company’s weekly sales reached 1 million pounds.
  • “I have never seen anything like this,” he told the Manchester Evening News.

Manchester’s real estate market is booming. A local agent said that he had never seen anything like this.

This metropolis in northwestern England is arbitrarily called the second largest city in England and is known for its long industrial history.

But now, the city is a cultural center, popular for its bustling nightlife scene and famous football. It is attracting buyers in droves.

Anthony Stankard is the managing director of Residential Manchester in Deansgate.he Tell Manchester Evening News As the city’s real estate market rebounded from the coronavirus pandemic, his company sold 52 million pounds (more than $60.8 million) worth of houses last year.

He said that between August 2020 and July 2021, the company has sold 167 properties with sales of 51.25 million pounds. Except for the 555 properties that the company rented out during the same time period, the average weekly sales were just under £1 million (all for British buyers).

“We have had a unique year and despite everything we have experienced, Manchester continues to thrive,” he said. “I always think it will come back strongly, but it has far exceeded my expectations. Since April, it has been absolutely amazing. I have been doing this for 20 years, especially in the rental market, and I have never seen it Something similar.”

Manchester, United Kingdom

During the coronavirus lockdown, Manchester’s streets were empty.

Gu/Getty Images

Data show that as of June, the cost of housing in the UK has risen by more than 13% year-on-year, the highest annual increase since 2004. According to the BBC. In Manchester, house prices rose by 12% year-on-year, Manchester Evening News Report.

Stankard said his company is busy dealing with potential customers, adding that due to this frenzy, the agency’s sales figures have increased by 17%, which is a 30% increase from 2018-2019.

He attributed the large-scale migration to the return of urban workers, who would otherwise move or move during the peak of the pandemic. Not only that, he also claimed to see a large number of Londoners on the rise.

“I think that because many people can work from home now, they pay attention to Manchester because it is cheaper than London, but it still has the appeal of a big city,” he said.

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