A Property Developers Guide to the Northern Powerhouse

The creation of a ‘Northern Powerhouse’ was first introduced in June 2014 by the Chancellor of the Exchequer, George Osborne, during a speech in Manchester.  

The initiative aimed to rebalance the UK economy by boosting economic growth in the north of England and promoting investment in the region.The Northern Powerhouse has since become a major policy for the UK government, with continued investment being made in transport, infrastructure, and education to support economic growth and create new opportunities in the north.

Covering a wide area of the north, including major cities such as Manchester, Liverpool, and Bradford, the initiatives’ goal has always been to create a stronger and more prosperous north by bringing together businesses, communities, and local authorities to drive economic growth and create new opportunities. With significant investment already made and continued support, the Northern Powerhouse has the potential to transform the north of England's economy and create a brighter future for its residents.

As such, the economic growth of the region has driven house prices to rise at some of the fastest rates seen across the United Kingdom.

During a recent seminar at the Property Investor Show inApril 2023, IPG sales director Adam Ross discussed how the Northern Powerhouse is affecting property development when it comes to driving prices, meeting demand, and the strongest regions of growth in order to achieve the best rental returns.

The full seminar can be viewed below, alongside statistics of major regeneration projects in cities such as Liverpool, Manchester and Bradford:

https://youtu.be/ooB0GSufgyQ

‍