Procurement · 16 August 2017

Ten regional tech hubs offering founders an escape from London house prices

Leeds registered a high tech growth potential than any other UK city
Leeds registered a higher tech growth potential than any other UK city
Rising house prices in London arecausing a mass exodus? of digital entrepreneurs from the capital, according to a new report, as other regional tech hubs tempt startups ascost-effective alternatives.

In an analysis of Tech City’s Tech Nation 2017? report, a comprehensive study of Britain’s digital ecosystems, online estate agent Housesimple looked at average house prices, sector growth potential and the number of tech jobs in each region to rank tencities with the foundations to protect the UK’s digital economy.

The final league table placed Manchester in top position. A growth potential of 85 per cent, backed by 60, 000 digital jobs and low average house prices of 161, 611, made the city most likely to challenge London as the natural home for tech startups.

Even lower average house prices of 119, 487 put Glasgow in second place. Despite strong growth potential, at 25, 992 there were significantly fewer jobs in the sector.

Representing Yorkshire, Leeds fell in third place. Leeds hadhigher average house prices than the top two positions, but the growth potential of its tech sector was marked at 92 per cent the highest in the country.

As cities in the North of England and Scotland represent both value and potential for tech entrepreneurs, rising house prices across the South of England could be leaving founders with no choice but to look elsewhere.

Commenting on the findings, Alex Gosling, Housesimple CEO, said Britain’s digital economy was rapidly expanding? across the UK, and highlighted an incoming shift.


 
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ABOUT THE EXPERT

Praseeda Nair is the editorial director of Business Advice, and its sister publication for growing businesses, Real Business. She's an impassioned advocate for women in leadership, and likes to profile business owners, advisors and experts in the field of entrepreneurship and management.

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