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Nationwide predicts house price rise in Manchester

01 February 2007
An increased demand for housing in Manchester will support rising house prices after Britain's first super-casino arrives in the city, Nationwide has predicted.

The controversial gambling complex was the subject of fierce competition between a number of would-be host cities including Glasgow, Newcastle, Cardiff and Sheffield.

Manchester was awarded permission to become the new home of British gambling after the Casino Advisory Panel ruled that the city's advocates were committed to the "highest standards of social responsibility".

The panel's decision was informed substantially by the level of urban regeneration and job creation the casino would stimulate in each possible host city.

Nationwide chief economist Fionnuala Earley now anticipates that the arrival of the casino in Manchester will bolster house prices, which have increased by over 250 per cent in the last decade.

However, she warned that noise pollution issues surrounding the new casino could dent the casino's positive impact or even depress the value of houses in its immediate environs.

Homes in Manchester have gained three per cent in value over the last 12 months, Nationwide statistics show.

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