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Transport funding 'will boost property market'

13/06/2008

The government's pledge to inject billions of pounds in public transport in Manchester will greatly enhance the property market, it has been claimed.

According to Paul Collins, the property editor of BuyAssociation, Manchester property prices will increase and demand will rise as a result of a better Metrolink service.

He said that Manchester's future as a property hotspot is a "special case" because of the amount of new properties being built.

"If it's a lot easier for people to get to their properties ... then that's obviously a great thing for the properties that are being bought and the people that have already bought there," he remarked.

"We've seen in other cities – particularly in London – that if you've got a good public transport network then prices will go up, so it should be a real help."

Earlier this week, the government said it would invest £3 billion in public transport improvements in Greater Manchester in return for a congestion charge.