Last year can be defined as the year that UK cities firmly stepped out of the shadows. There are three reasons for saying this.
Firstly, the benefits of an improving economy started to be felt outside London and the South East. Across the key cities there were signs of growing occupier confidence in the increased number of property deals and even some prelets or lettings before completion for those brave enough to embark on speculative development.
Secondly, an increasingly hot London investment market has led more people to look for opportunities and value outside the capital. It is a sentiment that is reflected in the improved investment volumes – each of the six key UK cities saw increases in the amount invested compared with 2013, according to GVA research.
The third reason is political. The Scottish referendum didn’t only focus attention on Scotland and what further powers it could secure, it also awoke an appetite across the UK for a devolution of power away from central government.
An opportunity to secure more control over finances at a local level and with it more control over the key decisions on things such as infrastructure is a tantalising prospect. It is a voyage of discovery, of course, unchartered territory. But it has injected a sense of excitement and opportunity across the country. In this investor guide we highlight some of the opportunities, trends and strategies for investing in the UK.
Stacey Meadwell, UK cities editor, Estates Gazette
