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Why are so many people moving up North?

28th November 2018

London has always been viewed as the place to be for young, ambitious people in the UK. In recent years, however, there’s been a shift towards more young professionals heading to the North to live and work. But why are so many young people suddenly moving up North?


Cities like Manchester and Liverpool have record numbers of young people living in the city. Figures from this year show that a total of 10,200 people had moved to Manchester from London in 2017. By comparison, 8,870 people moved to London from Manchester, showing a definite shift in people’s attitudes towards the North and South divide.


Salford is one Greater Manchester city that has seen the highest number of people moving from London, with around 360 more people moving to Salford than the other way around. Exciting new developments in the area are likely to play a part in this, with regeneration projects like MediaCityUK bringing interest from professionals around the country. MediaCityUK is home to headquarters for some of the UK’s biggest companies, including the BBC, ITV, Kellogg's and more.


Not only will these business opportunities be appealing to those from other UK cities like London, but it’s likely that they’re contributing to the number of graduated staying in Manchester. The student retention rate in Manchester is one of the highest in the UK, boasting a high 51.5% over recent years, beating other popular cities like Edinburgh and Belfast. This figure is expected to grow even further, reaching highs of 70%.


Aside from the business opportunities available, Manchester is also a city that rivals London in many ways. A cultural hotspot, world-class shopping destination, and a fantastic nightlife location, Manchester has the same opportunities on offer as London, with one major difference — the price. For a lot of people, moving up North is a way to avoid the expense of London. Those interested in buying property are far better off in Northern cities like Manchester and Liverpool, with house prices in these cities averaging around £158,500, whilst London’s average stands at £671,412.


Liverpool is quickly becoming a property hotspot in the UK, particularly with investors. Properties in Liverpool have some of the highest rental yields, with property investment companies like RW Invest offering yields in Merseyside as high as 8%. The city centre in Liverpool has the fastest growing population in the UK, with the population increasing by 181% between the years of 2002 and 2015. This growth is mainly down to young people living in the city centre, most likely students and young professionals taking advantage of what the city has to offer.


Big regeneration is in store under the Northern Powerhouse initiative which is expected to boost the economy of these key cities even further, and likely result in even more people heading North. Northern Powerhouse Rail is one development that will improve the quality of life for people living in Manchester and Liverpool, with plans to introduce better connectivity between the cities. This will make it easier and more efficient to commute between each city, presenting even more opportunity for the city’s professionals and enticing more people to leave London behind.

Posted by Mark at 9:41am

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