Newcastle: a North Eastern Powerhouse
UK Cross Sector – Spring 2019 SPOTLIGHT Newcastle: A north Savills Research eastern powerhouse Mixed use development opportunities Emerging tech sector Industrial demand Overview Overview Graeme Peacock Challenges and opportunities significantly more affordable than the Figure 1 Residential development has increased As an affordable location that is attracting public and private investment, most expensive core city, Bristol, which rapidly and is now exceeding local plan targets new opportunities are beginning to emerge in Newcastle has a house price to earnings ratio of 9.11. The city has also benefitted from 3,000 Newcastle is one of the fastest growing In the future, Newcastle will benefit The city in context pro-development local government. cities in the UK, with 21,000 new from the North of Tyne devolution Comparison with the other nine Following the downturn during the homes and 14,000 new jobs expected deal. Implemented in 2018, the deal UK core cities and additional strong global financial crisis, housing delivery 2,500 over the next 12 years. The city’s will bring Newcastle, North Tyneside regional centres such as Oxford, has risen strongly from 2013-14, and for population is projected to reach and Northumberland together under Reading and Edinburgh demonstrates the last two years, new housebuilding 2,000 over 310,000 by 2030, an increase of a Mayor, and will bring an extra £600 Newcastle’s strengths, and the areas has been equivalent to 2% of existing 6% from 2016, while the city region million of investment to the region over where the city faces challenges. housing stock. None of the other population is projected to be 2.75 the next 30 years.
[Show full text]