According to the Northern Powerhouse project, the aim is to create a super-connected, competitive economy with a flourishing private sector.

The goal is to drive the North forwards, to step out of the shadow of London and the South-East. And, beyond that, as a collection of northern cities, to become globally competitive.

The plan is broken down into various co-dependent steps: ideas, infrastructure, business environment, people, and places.

We’ll give you a brief overview…

For more information, learn more on gov.uk.

According to Hamptons, property investors who used to focus on London are already looking to the North in search of the best returns. In the first 7 months of 2021, 12% of properties bought in Great Britain were by investors, but London didn’t match this figure, with just 9% of properties in London being bought by investors.   

With a low average yield of just 4.3%, it’s easy to understand why London-based investors are also looking increasingly outside of London for the best returns – a record 63% of said investors have bought outside of London for their buy-to-let investments.  

When we look at some of the cities set to benefit from the Northern Powerhouse project, it’s easy to see why investors are looking to the North. Liverpool’s average yield sits at 7.5% (Hamptons), Manchester sits at 5.7%, and Birmingham sits at 6%. 

We’ve increasingly looked at how HS2 and projects like the Birmingham Smithfield Masterplan will affect property investments. This concentrated effort and investment will bring the North up to the standard of London and broader financial capitals, which will drive both property prices up and the demand for rental properties up.  

With better rail connections to London, people are looking increasingly to move to the North with the high rent no longer making financial sense. It is now the perfect opportunity to invest in northern properties as prices look set to continue their growth.