You are here: Home - Mortgages - First Time Buyer - News -

Northern Powerhouse powers up, finds survey

Written by:
Former Chancellor George Osborne’s vision of a ‘Northern Powerhouse’ may finally be coming to fruition, with the latest Demos-PwC’s ‘Good Growth for Cities’ index showing cities in the North are catching up with those in the South.

Birmingham was named the fastest improving city in the UK in a new ranking, alongside Leeds, Leicester and Newcastle. That said, Southern cities continued to top the rankings on a combined measure, taking into account employment, health, income, skills, housing affordability and commuting times, among other factors. Oxford came top for 2017.

London was fifth in the list of the top 10 most improved cities, but didn’t make the list of highest ranking cities, which also included Reading, Southampton, Edinburgh and Bristol.

John Hawksworth, chief economist at PWc, said: “The UK has been a great job-creating machine in recent years and this has driven improvement in our good growth index this year across all major UK cities.

“But there has also been a price to pay for this in terms of worsening housing affordability, increased average commuting times and more people having to work long hours. The cities that are highest ranked on our index also tend to suffer the highest price of success.”

Paul Terrington, PwC head of regions, said falling unemployment rates had helped create improvements in Northern cities, which were finally seeing the benefits of economic recovery after the financial crisis.

Related Posts

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

The essential Your Money guide to the April 2018 tax changes

As we head into the 2018/19 tax year, a number of key changes take place to existing policies while some new i...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co... Awards 2018

Now in their 21st year, our awards recognise the companies offering the best products and services to consumers

Money Tips of the Week

Read previous post:
Post Office Money launches ‘First Start’ mortgage for first-time buyers

Post Office Money has today launched a new mortgage offering for first-time buyers, which requires the support of their families.