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Prime property market 'holding up'
08/04/2008
The top end of the Manchester property market has not been affected by the credit crunch because of the amount of wealth tied up in these households, it has been claimed.
According to Primelocation.com, many estate agents are reporting a steady influx of high-quality properties for sale which are then selling without undue delay.
Louise Hall, business director at Primelocation.com, said: "From talking to key estate agents at the top-end of the market, they still seem to be having a pretty good run.
"At the moment, the credit crunch hasn't had an effect on that very top-end because inevitably, there is a lot of money around there."
However, prosperity at the top end could take a hit if employees of large corporates lose their jobs or do not get their bonuses, she said.
Manchester is home to a vast array of professional and financial services companies, many of which have global operations. As such they are potentially exposed to liquidity problems and lending crises.
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