City centre sees highest rent rises outside capital

THE cost of renting an apartment in Manchester city centre has increased by almost 20 per cent over the last year, according to a new report.

- JON ROBINSON

Data complied by global property advisor JLL shows that Manchester saw a rise of 19.6pc in the 12 months to the end of June 2023.

The jump was the highest among the 'big six' cities outside London which also includes Birmingham, Leeds, Bristol, Edinburgh and Glasgow.

The report has also revealed that house prices in Manchester also rose by 4.9pc during the same period, the second highest among the 'big six.

According to the report, the rise in rental prices has been fuelled by the continued demand from young professionals and both international and domestic students alongside a significant reduction in supply.