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Sarah Townsend
Post-Covid recovery in the region’s two biggest cities will be driven by Manchester’s economic expansion over the past five years and buoyant build-to-rent sector, and Liverpool’s busy port and associated industries, as well as momentum in life sciences, Avison Young said.
The real estate consultancy’s 2021 Forecast reports for Liverpool and Manchester noted that Manchester has been hit hard by the effects of the pandemic but that previous economic expansion, especially in the services sector, and a growing number of businesses setting up in the city will help to cushion the blow this year.
High levels of activity in the residential capital markets will also contribute significantly to Manchester’s post-Covid economic recovery. The city has become a hotspot for the booming BTR sector, Avison Young noted, and demand among investors is likely to continue in 2021, driven by rapid population growth, business investment and strong retention of university talent