Manchester renting demand 'outstripping' supply

05 2007
Demand for rental accommodation in Manchester continues to be strong, partly as a result of a housing shortage in the city.

New figures reveal that three times more homes have been torn down over recent years than have been built, leading to a shortage across all areas of Manchester and Salford.

Despite the shortage, the city remains popular with both students and young professionals, with prospective renters drawn in by Manchester's vibrant nightlife and strong employment prospects.

However, the government has claimed that its £20 billion investment in the city will make for a bright future for Manchester.

A spokesman for the Communities and Local Government Department said: "The housing market renewal programme will have built, refurbished and improved more than four times as many homes as have been demolished, according to our estimates for the end of the year."

Over the next two years, Manchester is set to benefit with the opening of a new 'Media City', which will include the creation of hundreds of broadcasting jobs and the construction of thousands of new homes to rent.
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