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  • Property Prices

    "Prosperity" hotspots hint at capital growth

    The latest "Prosperity Index" by Barclays shows that all regions are better off than this time last year, with Scotland leading the way, ahead of London and other major cities in the U.K.

    This study, which examines a raft of measures including average annual pay, local house prices, small business growth rates and even things like charitable giving, showed that while London continues to be the UK’s most prosperous city, others are also emerging as prosperity hotspots.

    This could indicate potential for increasing tenant demand and capital growth.

    The study found that:

    • Manchester and Sheffield saw some of the largest increases in small and medium-sized enterprise turnover at 15%, and 11% respectively – compared with 7% in London.
    • Yorkshire saw the second biggest rise in the number of new businesses created with a 1.8% increase, second only to London.
    • At an average age of 45, Manchester has the youngest business owners in the UK, compared with average age 50 in places such as Guildford and Cambridge.
    • Leeds, Cambridge and Liverpool have the highest proportion of female entrepreneurs in UK cities – at 29%.

    In a sign of their status as increasingly attractive areas in which to live and work, both Bristol and Cambridge saw higher growth in house prices than London, up 14% for Cambridge and 13% for Bristol, compared with just 11% in London.

    Location Spotlight: Bristol

    Worth noting that the survey was taken pre-Brexit, so the next set of stats will be interesting!

    Full/source story 

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