A Return to City Centre Livingon
30 years ago many UK city centres were desolate and dilapidated; in the evenings and night time crime was rife and many were considered unsafe.
Wind forward 30 years and our cities are bustling with activity and nightlife. This is as a direct result of an urban renaissance, especially in the North of England.
This has been driven by the availability of highly skilled, high-paid office jobs such as those within financial and legal services.
Young professionals are driving the demand for city centre apartments; demographics suggest those who are young, single, with good careers and incomes are occupying rented accommodation in the city centres.
This has in turn resulted in an increase of gyms, cafes, food outlets, as well as restaurants and bars.
Also, a high proportion of these residents do not own a car and commute on foot. There is no desire to enter the daily traffic congestion and high parking fees every day!
This has been more pronounced in the North due to the availability of land from the city’s industrial past, with Brownfield sites being cleared and new shiny apartment and office buildings springing up.
Smart investors are developing these blocks with retail on the ground floor to attract tenants, also including amenities as outlined in my previous article Build to Rent.
There is no doubt that UK cities are catching up with their European counterparts and a cosmopolitan society is here to stay.
To read more articles on the property sector from Nick Symes, Director of Property, please visit: