The five areas where Manchester's property market is dominating

Manchester's status as a hotspot for investment and development has been backed up by a major report which reveals the five areas where it is seeing off all competition.

Experts at CBRE, the US-headquartered commercial real estate services and investment giant, have ranked Manchester first for its offices, urban logistics and self storage, student accommodation, multi family housing and single family housing.

According to the firm's report, 'Which City? Which Sector? Real estate prospects over the next decade', Manchester was also second only to Oxford and Cambridge in the life sciences sector.

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In order to come up with the report's findings, CBRE examined the growth prospects for a range of real estate sectors across the 50 largest regional towns and cities in the UK.

Its findings were informed by economic drivers (including GDP, employment and income growth), demographic trends and property market data such as supply pipeline, local universities and housing affordability.

John Ogden, CBRE North's managing director, said: "When identifying key growth markets for office real estate, economic and demographic factors are fundamental. Manchester features top in CBRE’s rankings, partly because it is expected to benefit from the strongest GDP growth.

"The size of the talent pool is another key factor used when forecasting office demand and Manchester is ranked first for growth in working age population and office employment."

CBRE's findings were informed by Manchester's projected population growth, with the firm estimating that it could increase by almost 6% within the next ten years.

Manchester was also ranked first ahead of