DEVELOPERS say it is odds on the super-casino will bring a property price boom to east Manchester.

Prices here have already more than doubled in the last five years since the Commonwealth Games and experts now expect them to continue to rise faster than any area of the city.

Sales office phone lines have been red-hot since yesterday's announcement that the casino will come to a site near the City Of Manchester Stadium with one delighted negotiator reporting he had sold three apartments in as many hours and another developer had sold eight properties.

Mike Kidd is agency manager with Edward Mellor in Gorton and he said: "We are hanging out the bunting here, it is brilliant news for the people and the property market of east Manchester.

"And it was totally out of the blue, any gambling person would have put their money on the Dome or Blackpool but it is a very positive thing for our city."

More new housing was an element of Manchester's bid and Kidd thinks anyone who has already bought has a gold-plated investment.

Delighted

He said: "You don't go out and say, `I want to live next to a casino', but people who have properties at Sportscity or at Beswick must be delighted.

"It will create jobs, not only for local people, but also for people from outside the area who will need somewhere to live and I would imagine investors will hang onto a place now.

"People who point out potential traffic problems or crime should remember that this area has lived with that for the last few decades but it is slowly and surely being resolved."

In 2005, you could buy a two bed terrace on Louisa Street in Openshaw for under é40,000 but a two-bed mid terrace on this much improved and neat street is currently on the market for é95,000 and is already attracting bids.

Just down the road from the stadium developer Lovell have built their distinctive glass and render family houses and regional director Paul Hulme said: "We have been working in Beswick since 2003 and since then have seen growing confidence in the area which has been reflected in consistently strong sales at The Way.

"This announcement is great news, bringing further major investment and job opportunities."

On a site next door apartments at Gleeson's City East development have soared in price. When they launched in 2005 one bed apartments were priced between é85,000 and é120,000 but when a second phase of two bed apartments goes on sale tomorrow they will start at é165,000.

Demand

Gleeson Regional Operations Director, Andrew Lawson, said: "The news of the casino is great for east Manchester and Beswick in particular. There is already a high demand for new properties in this area with close proximity to the city centre and excellent local transport networks.

"Buying here will be a good long term investment as this part of the city is likely to become a highly desirable residential location. As the casino is developed the economy of the area will go from strength to strength which can only benefit the people who live and work here."

Fionnuala Earley, Nationwide Building Society's chief economist, was more cautious saying: "This could be good news for house prices in Manchester. It will bring new jobs to the city and the decision clearly represents a vote of confidence in Manchester's infrastructure and the city's ability to support a new super-casino.

"Many people have taken a gamble buying property in Manchester in the past and this has paid off with house prices increasing by more than 250 per cent in the last 10 years.

"However, depending on the location of the casino, there could still be some negative impact on local prices if factors, like noise, for example, become an issue.

"The average house price in the city is é197,391 and homeowners have seen house prices rise by almost three per cent over the last year and 101 per cent over the last five years."

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