The end of year house prices shows the divide between the north and south is at an all time high. But the difference isn’t just confined to the price of our homes and is linked to a whole range of other factors including the growth in the number of jobs.
The northern region where the industrial revolution was built, is now a shadow of its former self.With a population of over 10 million in the ‘North’, it has long needed to address the imbalance that exists and has tested generations of policy makers and politicians alike.
Enter the Northern Powerhouse.
A welcome step? It certainly has a throwback reference to the 19th Century.
But what does it actually mean and how will it address the inequalities that exist?
A lot has been written about connectivity and major investment is proposed to connect the northern cities of Liverpool, Manchester, Leeds and Sheffield. We will soon be seeing an Oyster Card System in Manchester, like that of London. And then there is High Speed 2.
City regions, also now seem to be the favoured devolved geographical unit to take charge of spending budgets and to drive change.Greater Manchester appears as the forerunner and now how has an Interim Mayor. The region is also set to have greater planning powers as well as a managing a housing investment fundto build thousands of new homes. The Greater Manchester Combined Authority have gone out to consultation on plans for future development. This includes identifying sites that would suitable for housing and accommodating future jobs. We are currently working on behalf of a number of landowners in the promotion of their sites as potential development land.
Time will tell whether better co-ordination and strategic thinking as well as land will deliver a closing of the inequality that exists. Certainly investment will help, and there is a lot of catching up to be done but the northern Powerhouse may just be the encouragement that’s needed.
If you have land or a potential development site or want to see what opportunities these changes present, speak to on our Consultants.