Developers in the UK plan to invest more money in building properties in the north of England according to new research from Together.
Property Wire shared the findings of the survey, which found that 65 per cent of property developers intend to increase their levels of investment in the north of England substantially by the end of 2021.
The Northern Powerhouse initiative was cited as one of the driving factors behind this desire to build more in the north.
While the north east of England is named as the place with the best opportunities, the north west is not far behind. 42 per cent of developers said that the north west is where they plan to focus, as opposed to 57 per cent who named the north east.
The research also found that houses and flats are considered to be the projects with the biggest development opportunities in the region, while semi-commercial properties were named in third place on the list.
Andrew Charnley, head of corporate relationships at Together, told the news provider that there’s a healthy pipeline of developments in the north of the country.
“Given the uncertainty around Brexit and the prospect of economic headwinds, it’s encouraging to see investors remaining so bullish, particularly when it comes to the north,” he asserted.
Last month, research commissioned by Experience Invest revealed that 55 per cent of property investors in the UK have put their plans on hold for the last six months as they wait to see how Brexit will turn out. Workplace Insight shared the findings, which also included that 59 per cent want to see the contents of the Autumn Budget before making any decisions.
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