The Economy is Set to See Major Growth
Once fully approved, this new phase will extend HS2 from Crewe to Manchester, creating a new “transport spine” across the North West.
The purpose is to boost local economies through better connections, more capacity, improved reliability and slashed journey times – which includes cutting travel from London to Manchester by around 55 minutes and Birmingham to Manchester by 45 minutes.
As well as this, new stations at Manchester Piccadilly and Manchester Airport will “level up” the region and assist in supporting the city.
Part of the new high-speed line will also be used for Northern Powerhouse Rail (NPR) services between Leeds, Manchester and Liverpool – helping cut the Manchester Piccadilly to Liverpool journey to 35 minutes.
Additionally, the construction will allow capacity to double – or more – on routes between Manchester and London to Birmingham.
When this is completed, similar capacity increases to Leeds and Liverpool are expected to follow, with trains using the High-Speed line and stations at Manchester.
The plans are all part of the £96 billion Integrated Rail Plan – the biggest ever public investment in Britain’s rail network – and the first of 3 new high-speed lines being planned.
This is, of course, all good news for investors, as it allows for further economic growth and could see investment into cities in the North West area explode.
Increased Employment Opportunities
As of 2022, thousands of investors are choosing to invest in Manchester property due to its world-class infrastructure, regeneration, employment opportunities, and economic growth.
And, with the introduction of this bill, this is something that can only be expected to continue.
This expansion to HS2 is set to bring around 17,500 direct jobs in the construction of the Crewe to Manchester leg, as well as thousands of additional jobs in the supply chain expected to follow – which will almost undoubtedly help boost the property market.
Further Regeneration and High Capital Appreciation
Regeneration has always been an attractive quality for a city, with some of the best UK areas for property investment boasting top rejuvenation schemes.
In Birmingham, for example, these are a significant contributor to its rising population and increased rental demand, with substantial projects like Birmingham Big City Plan and HS2, again increasing overall appeal for the city from both investors and workers.
And with more jobs expected to create, it’s easy to see why so many people are flocking to the region.
In fact, according to Savills, the North West is set to see some of the UK’s most impressive house price growth by 2026, with a predicted average increase of 18.8%.
With fantastic employment opportunities on offer and overall greater proximity to transport links, once approved, this expansion will almost definitely make the North West an even better place to invest.
If you’d like to learn more about getting started with property investment, take a look at our guide outlining the top 10 property investment tips for beginners.