Knight Frank’s 2015 wealth report round up

Every year global real estate agents, Knight Frank, produces a Wealth Report, monitoring what the Ultra Wealthy (those with a net worth of over $30million) want to spend their money on. 2015’s report has been one of the most revealing to date, as it documents a definite shift in where the Ultra Wealthy want to study, live and invest.

Knight Frank’s 2015 wealth report round up

These days you don’t have to look far to find information regarding the ever-growing disparity between the ‘Ultra Wealthy’ and the rest of the world. The 1%, as they’re often referred to in the media, represent the unattainably wealthy who seem to live in a different world of private jets, priceless artwork, and homes around the globe.

Last year, 82% of this exclusive group saw their net worth grow, and a confident 80% expect these increases to continue throughout 2015. It is clear that these days the 1% see savvy investments as the key to positive growth, and currently there is no investment more in-vogue than good old-fashioned brick and mortar.

The Wealth Report notes how “property is increasingly seen as a mainstream investment class”, especially with the younger generation of the Ultra Wealthy, 45% of whom are more interested than their parents were. Residential property is by far the most popular sector to invest in, preferred by 81%. The type of property is important as well; throughout 2014 the price of property in cities went up by 4.5%, whereas second homes in sun and seaside locations saw their prices decrease by -0.9% and -0.4% respectively.

Knight Frank Wealth Report Global Capital Markets Survey 2015
Knight Frank Wealth Report Global Capital Markets Survey 2015

2014 also saw a new wave of investors appear on the market as the wealthy Chinese began to realise the potential of property. Areas saw unparalleled amounts of FDI (Foreign Direct Investment) as they became the favoured spots for investors from different countries. For example, the Australian Gold Coast and the US West Coast were massively popular choices for these Chinese investors, whereas money from Hong Kong was more likely to go to properties in Miami. Some places though, enjoyed universal attention, one of which was London.

London’s global reputation, similarly to New York’s or Paris’s, means that it is often the first place investors chose to buy property in. However, such an intense surge of interest resulted in the UK capital’s house prices spiralling out of control, and many residents moving away, leaving investors with low yields and little promise of capital gain.

Resultantly, Knight Frank predicts seeing a change soon as investors chose to look into more lucrative areas: “We will see them moving beyond the gateway cities of London, New York and Sydney and investing into other key cities, such as Frankfurt, Brisbane, Miami and Manchester.”

It is no surprise that Manchester has made this list. The city already has that all-important global presence, thanks to its Premier League football clubs and, coupled with being the fastest growing city in the United Kingdom; it is gaining a truly positive reputation for investors. This is also helped by the high yields most residential and student developments offer, as despite being the UK’s second city, Manchester is nowhere close to the inflated house prices of the capital.

Knight Knox International offers a range of properties all around the Greater Manchester region: Adelphi Wharf benefits from being fifteen minutes’ walk from the city centre but having views of the idyllic River Irwell and local meadows, a unique investment unlike the concrete jungle of Greater London. In stark contrast to Adelphi Wharf, X1 Media City comprises four iconic buildings in the heart of MediaCityUK. Investors are beginning to see past the name of London alone and recognise the better opportunities regional locations can offer.

Looking to invest in Manchester property? Contact us today on +44 (0)161 772 1370 or email [email protected]

Preston Guide vertical - April 2019

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