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House price growth in areas with significant start-ups

  • Salford is the UK’s hotspot for new business, with year-on-year growth of 85%, 1,393 new businesses set-up here between January and March 2017. If growth is maintained throughout 2017 over 5,200 new businesses will have made Salford their ‘home’ by the end of 2017.
  • House price growth across Salford has considerably outperformed the national average. Average price growth has been 14% over the last 12 months, with the average price of a property £144,425, 33% lower than the average for England and Wales (£216,000) where growth has been 4.1%
  • Leicester, ranks second for business start-ups with growth of 35%, with the cities of Norwich (22%), Liverpool (22%) and Oxford (18%) completing the top five. House price growth exceeds the national average in all areas except Liverpool.
  • Year-on-year growth in business start-ups across London has been just 5.1%, although the UK’s capital city still tops the league by volume. There were 57,235 new business start-ups between January and March and it is estimated one third of all startups throughout 2017 will be in London. Annual house growth across the capital now stands at just 1.5%, with average prices £472,000.
 
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