UK Infrastructure Investment – is it all good news?
UK Infrastructure Development is on the rise, with an aim to improve transport links, housing and other elements of infrastructure across the nation. However, there are some concerns that it’s not all going to be good news. Perhaps the biggest concern is the discrepancy in investment throughout different regions of the UK.
Transport investment in London
More than 50% of transport investment is currently being invested in London, which despite improving conditions in the busy capital, has raised questions about whether other areas of the UK will be able to keep up. For example, Northern cities may face “chronic underinvestment” according to Thinktank IPPR North, which looks at the value of investment per person within different areas.
The spending gap
Infrastructure in many areas is a huge concern, with investment as low as £190 per head in areas such as Yorkshire and the Humber, although higher in the North-West at £680, looking at transport alone. This has been broken down to show that while there is £1,943 being spent per head in London, this is significantly lower for many northern cities, at an average of £427 per person.
The North-South divide
While transport is only one area of concern, projects like the Northern Powerhouse project have demonstrated how effective planning can result in greater investment – shown by the raised investment figure in the North-West regions of the UK. At the same time, properties in the north are proving easier to sell in the current market, with many southern properties struggling at higher prices.
Investment requirements are varied
In reality, this does show a need for greater investment into investment in the southern areas of the UK, particularly London where house prices are at the highest and in many ways disproportionate to the average wage. Whilst different areas are receiving different amounts of investment into their infrastructure, this is being largely channelled into big projects such as road developments, transport links and building more housing.
What does the future of UK Infrastructure Investment hold?
Although the future of UK infrastructure investment is not certain, there is no doubt that continued investment is required in order for Britain to keep up with other major economies across Europe.
The RG Group works with the retail, commercial and living space sectors to help fulfil this demand. Give us a call today 01732 526 850 to discuss your requirements.