Manchester has been named the fastest growing city in Europe for tech.
A new Tech Nation report says tech investment in the city grew by an astonishing 277% in the space of one year.
That’s more than double the investment in just 12 months and even outperformed the growth of London.
The data released by the respected UK tech network shows an increase in tech investment in Manchester from £48m in 2018 to £181m in 2019.
Manchester is also one of four of Europe’s top 20 highest investment tech cities, along with London, Bristol, Oxford and Cambridge.
And the impact of Manchester on the North West as a whole also had a positive impact with the wider region generating £600m of venture capital investment in 2019 with £77m invested in emerging tech and £25m in artificial intelligence from 2015 to 2019.
Simon Ismail, managing director of Salboy, said:
“To be named as the fastest-growing tech city in Europe shows the vast potential this city and the wider city region has in becoming a genuine world leader in technology.
“Standing alongside Oxford and Cambridge as one of Europe’s leading tech cities shows the power and influence of Manchester’s world-renowned universities which play a vital role in developing tech-based talent.
“Furthermore, this city is primed for a period of sustained economic growth. The infrastructure is in place for Manchester to flourish, which is having a major boost to the residential property market.
“There remains a relative undersupply of residential property in the city which is giving investors a real boost.
“Research suggests a further 35,000 people will move into the city centre by 2025 and job numbers are set to grow by 50% over the same period.
“It is little wonder Manchester is seen around the world as a city of strength and growth.”
Salboy is currently developing a number of Manchester city centre apartment developments available to buy now or reserve off-plan.