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    A rising

    Reputation

    Salford is an upcoming city located west of Manchester. The city is around 37 square miles and it holds the towns of Eccles, Worsley, Irlam and Cadishead, and Swinton and Pendlebury.

    Manchester is a recognised city, and the metropolitan borough of Salford has recently begun to rise and gain a reputation as being a hub for culture, technology, and entertainment. Greater Manchester is one of the UK’s most impressive urban success stories. A booming economy, growing population and constant development make this an extremely popular place to live and a perfect location to invest. The future keeps getting brighter in the city thanks to the economic growth and a thriving business sector.

    Salford has quickly gained a reputation, and the new developments and impressive architecture have become a well-recognised and attractive part of the city skyline. It is easy to see why it has become such a fast-evolving city in the UK’s North West, offering a range of social, cultural, economic, and even political levels. Salford also has a lot to offer in the education sector, as there is one of the UK’s top universities in the area. There are also many work opportunities, due to being home to thousands of businesses.

    Amenities

    Salford Quays is considered the cultural hub of the city, with plenty of contemporary events and entertainment taking place weekly. It is also home to the famous MediaCity UK, which is a major contributor to the local economy, holding many of the largest UK businesses. Lowry Arts Centre is also an iconic quayside structure that offers two theatres and multiple galleries. 

    Salford Quays hosts various entertainment events such as plays, musicals, dance performances, and much more, giving residents something to enjoy almost every night. There is also the Imperial War Museum, Salford Museum & Art Gallery, Ordsall Hall, and a Grade 1 listed Tudor manor house that residents or visitors can explore when they are in Salford. 

    Additionally, Salford is a globally recognised region due to its selections of world-class food and drink offerings, premium retail options, unbeatable connectivity, and beautiful green spaces. This city is home to great nightlife including bars, restaurants and live music. There are also many walks along the river to enjoy a more relaxed side of the city.

    Only a 12-minute drive from Salford is Old Trafford stadium, which is the iconic home of Manchester United, with an impressive capacity of 74,310. Salford is also a 16-minute drive away from the well-recognised Trafford Centre. The Trafford Centre is North West England’s largest indoor shopping complex. It has 300 of the most premium brands in retail and leisure as well as hosting sports, culture and other events, this amenity alone achieves over 44 million visits a year.

    In terms of education, thousands of students travel to Salford each year to study at the highly-rated University of Salford. The university educates around 26,000 students a year and employs 2,500 staff members, creating many jobs, and upcoming working professionals. The majority of students enrolled at Salford University usually move into Salford as opposed to Manchester. 

    A Growing

    Population

    In Salford, there was a population increase of 15.4%, rising the numbers from around 233,900 in 2011 to 269,900 in 2021. This aligns with the growth of Manchester which saw an increase of 9.7%, from 503,100 to 551,900. Salford is currently experiencing fast growth, making it the place with the largest population growth in the North West, alongside Chorley.

    A large percentage of residents in Salford are working professionals, the area has a strong employment rate of 72.4%, and 78.7% of the population is economically active. Salford is a popular city for young people to come to the city to study and find work opportunities.

    The city is still rapidly growing with over 5,000 people moving to the city centre each year. This is sure to benefit the city’s growth, demand, and economy. The largest age sector is 25 to 29 year-olds, there are more people in that age range that live in this region than anywhere else in the UK. This is the prime target age for rental properties, supporting the statement that there is high rental demand, which is why people should invest in Salford.

    A Promising

    Property Market

    Salford’s property market has seen impressive growth, with average property prices rising by an amazing 289% in the past 10 years. Across Salford, the average property price has grown by 4%, or 8.4k, in the 12 months to March 2023, growing quicker than many other areas of the country. 

    However, even though prices are rapidly rising, Salford still offers investors affordable entry rates compared to most other areas. It is still considered an affordable place to live for residents. Due to Salford having more affordable rental and house prices compared to other parts of Manchester, especially Manchester city centre, more people have been drawn there in recent years.

    Furthermore, individuals who invest in Salford will achieve on average, rental yields between 5 and 7%, which is higher than all other areas in Greater Manchester. With Manchester only a short commute away and property prices lower than the neighbouring cities, Salford is the perfect location for investors looking to achieve long-term growth and great rental returns.

    An Industry

    Powerhouse

    Manchester was at the front of the industrial revolution in the early 80’s and that hasn’t changed nearly 200 years later. Salford during this time went through a period of decline but that has since completely turned it around with the now consistent growth and development, setting itself up for long-term economic success.

    One of the main reasons that so many people are coming to Salford and why there is such a strong employment rate is that the city is established as an industry powerhouse, and it has created that reputation itself. It has become home to award-winning media, entertainment, and technology, creating a strong local economy.

    The majority of this growth in technology and innovation is due to MediaCityUK. This well-recognised business hub is home to leading business names like ITV, BBC, Talk Talk, and Warner Brothers. MediaCityUK is also home to over 250 smaller digital-based businesses, the large number of businesses and brands has opened plenty of employment opportunities.

    As a factor of the opportunities, Salford is a top destination in the north for people looking for jobs. Many people who work in the area have chosen to move to Salford so they can be closer to their place of work, significantly cutting down their commute time. These professionals are often high-earning, respectable renters, providing an opportunity for strong rental income for individuals that invest in Salford.

    Upcoming Regeneration:

    Salford Quays 2030

    Salford Quays is one of Europe’s most successful water regeneration projects, is it the home to MediaCityUK and holds thousands of residents. After years of past regeneration, Salford Quays is now starting the next stage of development with plans for MediaCityUK to double in size over the next decade.

    Plans for Quayside Regeneration also include developing more commercial office space, creating high-quality and affordable homes within attractive neighbourhoods. Also enhancing the current waterfront and public realm areas while creating new green spaces. With more business opportunities due to be created across 75,000 sq metres as well as further access to employment, retail, and leisure, businesses are sure to be attracted to Manchester, further solidifying their status as the ‘Northern Powerhouse’ 

    Chapel Wharf

    One of the key areas undergoing regeneration is the area of Chapel Wharf. Chapel Wharf is designed to be a ‘15-minute neighbourhood‘. This aims to reduce carbon emissions by reducing residents’ commuting time to around 15 minutes in the city and reducing the need for cars. The neighbourhood should contain all the basic needs for residents to live and work, including amenities that are all a 15-minute walk away.

    This is aiming to be achieved by 2042 and will include improving connectivity in and through the area for walking, cycling and active travel. The creation of quality public spaces and sites for new commercial, community and residential developments is also included in the plan.

    Furthermore, the cultural, architectural, and heritage of the area will be protected and enhanced throughout the project and key infrastructure barriers will be overcome. The project will cover 47 hectares of the city centre, further driving economic growth and creating a sense of community.

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