Manchester has witnessed a property boom as the prices of houses and apartments have gone up by 30 to 40 percent, reported 24News HD TV channel on Thursday. 

Lockdown, Brexit, and slowness in the construction industry in the wake of the coronavirus pandemic have caused the rise in property prices. Due to the demands of houses and apartments, a sharp rise in rents has also been witnessed in the city. The skyrocketing prices of the houses and the apartments caused difficulties for the tenants and the buyers to find the properties. 

On the other hand, the British government, for the first time, introduced the system to facilitate the citizens with the loans on easy conditions for buying the properties.

Real estate businessmen Umar Farooq and Habib Akbar Ansar said that the prices of the houses had gone up recently. They told that the prices of the houses in the areas like Longsight, Rusham, Cheetham Hill, Chorlton, City Centre and other areas where Pakistani and Kashmiri communities were residing were continuously going up.