The property market in the North of England has been booming over the past couple of years. Prices have become inflated in the busy metropolis of London, but the North has been thriving because of popular destinations, such as universities, bumping up the value of many different locations.
A £92m investment programme into the Newcastle and Gateshead area has stimulated business growth and paved the way for many jobs. It’s quickly becoming England’s largest cluster for tech and development. It’s also an accessible area thanks to an international airport and train services that connect to every major city.
As with all property development projects, make sure you understand the risks involved before you consider the rewards. No matter how lucrative the North of England is, make sure you take basic precautions.
Newcastle is home to two outstanding universities that work together with local businesses. It’s not unusual for university students to visit local businesses in order to pick up experience and attend workshops. If you open up your doors to these students, you could scout out talented individuals early and bring them into your workforce through an apprenticeship or internship programme. In addition, there are several more surrounding universities, so the potential for talented graduates joining your company can soar through the roof.
Each year, over 100,000 students graduate in the North-East and their search for work begins. You’ll have thousands of potential employees at your fingertips, so capitalise on this fact and recruit some fresh talent for your new business investment. If you’re thinking of investing in the North, then BHP Law have expertise as commercial solicitors within the Newcastle area.
Not Just Business
In addition to a bustling commercial and business district, homes in the North-East of England cost 47% less than the UK average. The North-East is host to a variety of different property types as well. There are cosy village locations with a rustic feel, seaside locations that make great family homes, and even ultra modern city apartments. With so much choice, it’s easy to see why investors of all niches are putting their money into areas like Newcastle.
With excellent healthcare services and an outstanding education path for children, it’s the perfect destination for up and coming families that are looking to move to a new location with more affordable housing and more job opportunities.
Best of Both Worlds
With so many possibilities, the North of England has undoubtedly become a hotspot for commercial, business, and property investors around the globe. While it’s not quite the Silicon Valley of England, the potential for growth will skyrocket thanks to government-funded regeneration projects around the area. While areas are still going under regeneration, investors can pick up property for cheaper prices and invest in long-term developments for the area.
So regardless of what your plan is for your next investments, consider moving your project to the North of England. There are countless modern amenities, a wealth of potential employees, and cheap living costs that can be used to secure big profits and entice Londoners to move further up North to find their new home.