The briefest of mentions of the city in the Autumn Statement holds promise for Manchester property accountants, although it remains to be seen the extent to which the Chancellor of the Exchequer’s announcements help to support communities across the Greater Manchester area.
As part of the statement, George Osborne listed a rapid-fire selection of efforts to help support residential construction, as growth begins to return to the sector.
He added that surveys suggest the current growth rate in residential construction is the highest for a decade – and Manchester is among the areas singled out for mention as the government seeks to sustain this expansion.
“This week, we are announcing a billion pounds of loans to unblock large housing developments on sites in Manchester and Leeds and across the country,” he said in Parliament.
For Manchester house-seekers, this could be good news, as it should boost the supply of affordable homes throughout the city and in its surrounding area.
However, Manchester property accountants will be keeping a close eye on how the region’s market develops, as we look for evidence of the government’s efforts filtering through into real-world market activity.