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Manchester property market 'to bounce back'
26/03/2009
The property market in Manchester will undergo a speedy recovery once the economy picks up, it has been suggested.
According to a survey conducted by Drivers Jonas, 40 per cent of the available commercial space in the city is classified as Grade A, CN plus reports.
This will be let quickly when the recession subsides and will ensure a quick return of rental growth, the firm claimed.
Meanwhile, Manchester's 28,000 annual graduates are likely to take advantage of more affordable housing and invest in the area's residential properties, it added.
Drivers Jonas Manchester partner John Adams commented: "The city's diversified economy and an anticipated re-balance in supply should speed up an eventual return to a stronger buying and lettings market when the wider economy recovers."
Established in 1725, Drivers Jonas currently has more than 750 partners and staff operating in offices in countries including the UK, France, Germany and Spain.
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