Manchester requires 55,000 new homes in next 15 years
Housebuilders will have to develop around 55,000 new homes in Manchester by 2027 to meet growing demand from buyers and renters, on the back of the projected population growth, according to Manchester City Council.
Early estimates suggest that 5,000 new homes in Manchester could be delivered in the next three years - and 13,000 homes by 2019.The home building strategy - dubbed the Residential Growth Prospectus - has set out the city's intentions for boosting the supply of new homes.
Manchester City Council believes that a housebuilding drive will bring employment benefits, providing a myriad of jobs, apprenticeships and education opportunities to the area.
Cllr Jim Battle, the council's deputy leader, said: "Manchester's strategy is about building new homes and creating jobs. We need to act now to meet demand for the future and to do this we need to stimulate investment in building and bring empty homes back into use.
He added: "The plan is also about creating financial packages that allows households into owner occupation. We believe this combination will not only create homes and neighbourhoods, but jobs, training opportunities and a huge economic boost for our city.
"The plan is ambitious but in Manchester we have the skills and experience to deliver a strategy that will secure Manchester in poll position as an economic driver for the UK."