In March’s Spring Budget, the Chancellor announced a raft of measures that the Government intends to help ‘level up’ the UK.

This involves addressing the challenges faced by areas currently underperforming economically and building on areas of strength, “ensuring the benefits of economic growth are felt across the UK”. The focus will be on “supporting growth in the sectors of the future”, namely: green industries, digital technologies, life sciences, creative industries, and advanced manufacturing.

How does this relate to the property market?

When investment is made into the infrastructure and economy of an area, it attracts businesses and creates employment opportunities, which can, but not always, boost the demand for housing.

And if this generates more wealth and the desirability of an area increase, that can drive up prices and rents and create new property investment opportunities.

So, for property owners and landlords, it’s well worth being aware of which areas are being targeted for Government and institutional investment because the earlier in the process you can take advantage of property investment opportunities, the better your medium to long-term returns could be – both in terms of equity growth and rental profits.

Where can I find out about levelling up funding for my area?

More details on the above can be found in the Spring Budget policy paper on the GOV.UK website.

To find out about specific plans for your area – or an area you might be considering investing in – you can visit the local council planning department, which will have details on infrastructure changes and any new commercial and residential buildings.

Source: Property Notify