I love my home city, Manchester, and back in 2016, the average age of people living in Manchester was recorded as 33.1 years old. Fast forward to 2019, and more and more young people from around the UK, particularly London, are choosing to move to this Northern city, making it one of the youngest areas in the country. From 2002 to 2017, the overall population of Manchester has grown by 26 per cent, with a noticeable rise in the population of 21 to 30-year-olds.
So why are so many young people interested in living in Manchester, and what does this mean for the city?
Part of the reason why this city is so attractive to young people is the thriving student scene. Home to a number of big universities, including the prestigious University of Manchester, flocks of young people from around the UK and around the world choose to pursue their studies in this city — leading to a population of around 85,000. With such a rich culture, lively nightlife, and endless attractions and things to do and see, it’s not hard to see why so many people are looking towards this city.
One other area that Manchester scores student points in is affordability. It’s a lot more affordable to live and work in Manchester than it is in cities like London. Everything from the cost of student accommodation to the cost of a pint of beer is cheaper, and since the majority of students are living off their student maintenance loan, the less costly they can live, the better!
Along with high numbers of young people opting to study in Manchester, the city also has one of the best graduate retention rates in the UK. The wide variety of business opportunities in the city mean that recent ambitious graduates have plenty to choose from when it comes to launching their new career. Businesses such as Kellogg’s, ITV, and BBC reside in Salford’s MediaCityUK, along with endless creative and tech start-ups and other big business names scattered throughout the city.
The popularity of this Northern Powerhouse city as a business hotspot has inevitably led to a lot of demand for rental properties. Young professionals are the main group of people seeking residential rental properties in the UK, with the majority of millennials now struggling to buy a home of their own. That’s why more and more property companies like RW Invest are feeding this rental demand and creating high-quality, well-located residential apartments in Manchester.
So how has this growth of Manchester’s young population affected the economy in the city? Manchester is now considered one of the biggest economic powerhouses, having played a big part in the UK’s growth ever since the days of the industrial revolution. With a larger population, money is being put into businesses and investments in the city. New regeneration projects are being launched in this city on a regular basis, including a transformation of the city’s main train stations, and a new city-centre neighbourhood, St Johns.