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Will Manchester’s MediaCity become the Media Capital of the UK?

For decades London has been considered the home of media production in the UK, but could Manchester’s MediaCity change that from 2015 onwards?

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Pastures New

Back in 2004, the BBC made their initial plans to relocate to Manchester known to the world. A new 200-acre site was to be created to house the BBC’s best and brightest. Fast-forward to 2015 and the aptly named MediaCity is fully complete and bringing with it a boost to the surrounding Salford area.

Rising costs in the capital forced the BBC take the big step in moving a large degree of its operations to the Manchester location. At time of writing BBC and ITV use it as a leading filming location, with the likes of Coronation Street and Match of the day recorded within the complex.

MediaCity has changed the face of the UK TV production, but it isn’t just developers, directors, and producers who have benefited from its construction.

Priced out of the Capital

Looking at the statistics, the average price of a home in London is £567,000. The consistent rise of property values in the capital have seen fears grow over a possible property bubble. As prices have escalated out of control, a new trend has emerged.

Many media professionals are opting out of living in London and are choosing to commute instead. While the capital has the Silicon Roundabout and Fleet Street, the appeal of such has waned significantly given the costs related to living the in the city.

Relocation for commuting purposes is one thing, but the economic pinch within the media sector has actually pushed many professionals to take even more drastic steps to stay connected to the industry. MediaCity has opened the door to pursuing a media career outside of London, while it has also helped Manchester grow, placing it amongst the leading media destinations in the world in 2015.

Increasing Appeal

Since January the average price of a Salford home has increased to £138,000. The construction of MediaCity has worked wonders in raising the appeal of the area, with many media professionals seeing such and opting to move north for both work and financial purposes.

The appeal of the region doesn’t just apply to those who work in the world of media either. Investors and first-time buyers will no doubt start to look at the Salford region of Manchester as an area that offers legitimate growth potential.

Since MediaCity opened its doors, property values in Salford have risen faster than anywhere else in the UK. While it is clear that the excellent amenities of the media centric development have drawn people to the Salford area, the property prices in the region have also been a key factor.

Vying for the Crown

London is a media powerhouse and that will never change, but Manchester has undoubtedly emerged as a rival city to the capital. The construction of MediaCity in Salford has reportedly added £1.1 billion to the £56 billion economy of the region, with over 30,000 employees in the media industry now calling Manchester home.

Providing affordable accommodation, impressive transport links, and true investment potential, the appeal of Manchester in 2015 is obvious. London may still be considered the UK’s media capital, but with MediaCity within its borders, Manchester could very well wrestle away such title sooner rather than later.

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