HS2 and the Manchester 2040 Transport Strategy

HS2 and the Manchester 2040 Transport Strategy

We have already covered the ways in which the high speed HS2 rail plans will impact the towns, cities and regions along its route. If you missed this article, you can read it here. But how do the HS2 plans relate to the ambitious Manchester 2040 Transport Strategy?

The plans for HS2 link into the long term plans for the Manchester 2040 Transport Strategy, which seeks to further optimise the city for public transport. The HS2 is set to run from two stations in Manchester: Manchester Piccadilly in the city centre, and Manchester Airport. Journey times to London will be just an hour.

As well as the obvious benefits to commuters, and northern residents in general, another priority of the 2040 Transport Strategy will be the improvements to freight transport. This is an aspect that is seen as absolutely key to economic growth, providing sustainable commercial capabilities across the region.

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2040 Transport Strategy Aims To Create Idyllic Manchester

At the heart of the Manchester 2040 Transport Strategy is a move to a cleaner, greener city. Less traffic congestion, and more cycling and walking paths, for example, will reduce air pollution. Leisure and rental facilities, public parks and green spaces, and a thriving, increasingly mobile workforce, are all promised by the work going into Manchester.

Particular industries are being beckoned to the city: financial and professional services, academic research, scientific innovation, and creative and technological industries, are all being targeted as key areas of the global economy expected to generate the highest levels of economic growth.

What’s more, the city seeks to devolve powers from central government. Powers to legislate and fund the city’s transport, its housing, and its regeneration plans, are being brought under the domain of the Greater Manchester authorities. Power to the Powerhouse, as it were.

It feels like the Manchester 2040 Transport Strategy, of which HS2 (and HS3 for that matter) are a part, are being seen as central to the creation of a near-Utopian Manchester.

What Will the Manchester 2040 Transport Strategy Do For Property Prices?

Where HS2 is accompanied by regeneration plans, as well as the wider approach to community transport offered by the Manchester 2040 Transport Strategy, history demonstrates favourable results for property.

Though homeowners may be understandably concerned about the impact on property prices, examples from recent years demonstrate positive reactions. In fact, experience shows us that towns and cities along the route will outperform the rest of the UK.

One of these examples is the case of both Ebbsfleet and Ashford, two towns which have been served by high-speed rail networks since 2007. Striking figures show both towns to have demonstrated better resilience, and quicker recovery, from the recession than the UK average.

As well as demonstrating the positive effects of new stations and high-speed rail networks, and the urban regeneration which comes with them, the figures also demonstrate the positive effect that reduced journey times have on property prices. The high-speed rail network serving the towns has cut the Ebbsfleet-London commute to 19 minutes, and Ashford-London to 38 minutes.

Basically, sustained analysis of property prices correlated against high-speed rail networks highlights a trend towards increased region and town desirability in those areas served by high-speed rail.

By placing integrated transport hand-in-hand with urban regeneration plans and pumped-up industry, property markets can expect to flourish throughout the Northern Powerhouse, as well as the Midlands, and all areas right along the HS2’s route.

With increased productivity (expected to generate gains of £8bn by 2037), and reduced journey times as a result of the Manchester 2040 Transport Strategy will allow people both higher wages and more time to spend on leisure activities. Of course, this will also pump more money into the local economy.

To conclude, all of these many factors point to serious opportunity for property investors, particularly in areas in or close to Manchester. As we at The House Crowd already know, the region is absolutely ripe for the picking, and will only become all the more desirable in coming years.

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Westminster Prices Falling

 

 

Westminster Prices Falling

I am not sure if this should really be called ‘the sound of the suburbs part two’ or try and think of something clever about the smartest parts of London not looking like the smartest places to invest in property nowadays?
According to the leading property services group LSL the house prices in areas such as Kensington and Chelsea have fallen by up to 22% since autumn 2014.

A report from LSL identifies that the areas of Kensington and Chelsea alone had seen prices plummet by 16% since a peak in September 2014.

Prices in Westminster were seen to fall by around 22% between a peak in November and the end of May 2015 which has been blamed in part on the December introduction of changes to stamp duty which penalises expensive properties.

Changes to stamp duty have meant that the average priced property in Chelsea or Kensington will see an increase of around £120K in stamp duty whilst buyers of properties worth less than £937K will now pay less stamp duty than they used to. This has resulted in the market slowing down and more importantly (according to the RICS) housing stock levels falling.

As we reported recently this has once again lead to increases in the suburbs both in London and other areas of England and Wales as the popularity of moving out of the city centres and taking advantage of improving transportation networks and more importantly affordable properties kicks in.

The RICS now predict that the shortages in housing stock are likely to cause house prices to rise in England and Wales by a whopping 25% over the next 5 years.

It is reported that prices in thirteen of London’s suburbs have now seen prices hit new highs, away from the South East, the strongest growth was expected in north-west England, home of The House Crowd as a result of the government’s northern powerhouse initiative perhaps this will grow again if/when the HS2 rail links are completed?

You can read more about the strengthening Manchester economy in our guides, simply click here to download the packs.

 

 

House Prices On The Increase

 

 

House Prices on the increase (at last!)

Finally house prices are on the increase!
According to reports taken from recently published Land Registry data it has been identified that the average price of homes in both England and Wales has almost reached the similar figures to those of the 2007 market when prices were at their peak.

The Land Registry data generally showed a 5.1% annual increase in house prices to take the average value of properties to £179,817. It should be noted that this is less than £2,000 from the £181,014 peak which was recorded pre economic slump back in November 2007.

Semi-detached houses were seen to be the main catalyst in the house price growth. Prices for Semi-detached properties were reported to have been generally rising by 5.6% over the course of the year. The market for flats/apartments saw an increase of 5.4%. This increase saw the flat/apartment market growing such and becoming the second largest in the housing sector.

Regionally there were no major surprises when it came to house prices where the London region recorded the biggest increases (up by 10.1% over the previous 12 months) whereas Wales by contrast saw an increase of just 0.3% although cities such as Cardiff and Swansea have reported 11.2% increases.

One area that has seen a high % growth in house prices a little closer to House Crowd HQ is the South East Manchester district of Trafford. Possibly not the best news for first time buyers in the area but there has been an increase of 9.2%. The proximity of Trafford to retail hubs such as the Trafford Centre, the introduction of the Metrolink tram system linking the commuter belt with the Manchester city centre and the regeneration and relocation to Salford’s Media City by the BBC will no doubt have influenced these increases.

 

Keep an eye on the latest House Crowd investment opportunities on our website pages and make sure that you are signed up to receive all our early bird notifications through social media channels.

 

 

Rejuvenating Manchester’s High Streets

In August of this year, we blogged about ‘Town Team pilots’ being rolled-out in the wake of Mary Portas’ High Street Review and the value of such entrepreneurial approaches to town centre rejuvenation. You can read the blog post here.

Following on from this, it has recently been announced that Manchester Council is to inject more than £300,000 to breathe new life into Greater Manchester’s high streets – specifically, Levenshulme and Cheetham Hill precincts, after they both missed out on cash from the Government’s Portas Pilot programme.

Both of the aforementioned areas did receive £10,000 consolation funding from the Government after bids for greater funding failed earlier this year. However, Manchester Council’s decision to provide far greater funding to promote these areas, drive shopper footfall and help bring fledgling local businesses on to the high street is significant and likely to achieve long-term results.

A council spokesperson has already talked-up the benefits of tackling aesthetically displeasing unfilled premises in the funded areas, however, here at The House Crowd, we believe the true value of the newly announced funding will be to attract further private development, transport investment and leisure facilities – all of which are central to increasing property value and key ingredients for building self-sustaining inner-city communities.

The House Crowd is a brand new concept in property investment which allows people to invest small amounts via crowdfunding (for more information on the process, visit http://thehousecrowd.com/thehousecrowd/how-it-works/). We are committed to breathing life into empty, rundown properties whilst giving investors great returns on their investments (for more information about us, visit http://thehousecrowd.com/thehousecrowd/about/our-manifesto/). If you’ve read enough and want to invest now, visit http://thehousecrowd.com/thehousecrowd/invest-in-property/).