8 August, 2008
A study performed on behalf of Manchester Enterprises demonstrates significant benefit from a proposed Metrolink expansion
Manchester Enterprises, the Economic Development agency for Greater Manchester, has released the results of a study it commissioned into the effect of the proposed Metrolink expansion. The study shows an anticipated increase in the total value of Greater Manchester Housing stock of between £295 and £515 million.
House prices would be expected to rise by between 0.4% and 5.4% (£3000 to £12000) in the areas where the Metrolink would pass through, which include Aston under Lyne, East Didsbury, Wythenshawe, Manchester Airport, Oldham, Rochdale and Trafford Park. Part of the basis of this valuation increase is time savings on journeys of between one and fifteen minutes.
The Metrolink expansion would create about 3200 new jobs in the city region by 2026 and would deliver an additional output of £139 million from people moving to more productive jobs in the city centre.
Manchester Enterprises Chief Executive Mike Emmerich says, “As GM assesses the TIF package, this study provides a further source of information to enable people to judge its merits. It demonstrates that the proposed Metrolink expansion could significantly increase individual house prices. Some of the most deprived areas in Greater Manchester will benefit most from these house price increases, boosting the regeneration of these communities”
Source: Manchester Enterprises