Cambridge remains top of the league for growth prospects
The UK Vitality Index for 2018, printed this week by Lambert Smith Hampton, reveals that Cambridge is performing strongly throughout a broad vary of financial indicators.
The LSH Vitality Index assesses the UK’s 66 largest cities and cities exterior London to determine that are finest positioned for growth and supply the best alternatives for companies growth. The outcomes are based mostly on the evaluation of 20 datasets, with every location ranked inside six separate sub-indices: best, quickest rising, most entrepreneurial, finest educated, greenest and rising affluence.
Cambridge maintains grip on top spot
In addition to being residence to the UK’s top-ranked college, Cambridge’s place at the top is underpinned by its extremely certified workforce and powerful growth in the native economic system and property market.
Now in its fifth version, 2018 was additionally one thing of an ‘Oxbridge year’ for the Vitality Index, with Oxford climbing three locations from 2017 into second place behind Cambridge. The metropolis of dreaming spires changed Milton Keynes as top-ranked location in the best class.
The report says that, regardless of the unsure financial surroundings, a bunch of indicators reveal that the general well being of the UK’s main cities and cities has improved in absolute phrases since final 12 months. This contains wage growth, job growth and new enterprise formation amongst others.
The South East area is residence to 5 of the top 10 areas (Cambridge, Guildford, Reading, Brighton & Hove, and Oxford), whereas Leicester is the greatest riser. Manchester leads enchancment in the Northern Powerhouse, with Edinburgh the northernmost location in the top 10.
For a 3rd successive 12 months, Cambridge is at the top of the rating in 2018. As a hub of scientific experience, the metropolis continues to draw inward funding and is residence to the UK’s most certified residents and its top college.
Transport points have arguably been a restrict to Cambridge’s full potential however enhancements are actually being made, together with the new Cambridge North railway station, near the Science Park, which opened in May 2017.
Most extremely educated: Cambridge retains its place at the top of this index for the second 12 months working, with the highest proportion of residents certified to a level degree or above and residential to the UK’s top ranked college.
Fastest rising: Cambridge has risen to the top of the rating on the again of robust rental growth, reflecting wholesome occupier demand and tight ranges of provide.
Most productive: While Oxford has overtaken Milton Keynes, the top rating location for the previous two years, with the quickest fee of workforce job growth forecast over the subsequent 5 years, Cambridge comes a wholesome third on this checklist.
Overall, the top 10 cities and cities in the UK Vitality Index 2018 are:
four. Brighton & Hove
9. Milton Keynes
10. St Albans
Isabel Watterson, senior analyst at LSH, stated: “While Cambridge has stolen the headlines again, the most striking result this year is the meteoric rise of Manchester. The unofficial capital of the Northern powerhouse is really cementing its position as the UK’s second city, boasting a growing reputation as a hotbed for creative talent and new businesses.”
She added: “Interestingly, the two most improved cities are both located in the East Midlands, namely Leicester and Nottingham. While not featuring in the top 10, Leicester climbed a massive 22 places, thanks in large part to an improvement in its environmental performance, while Nottingham climbed 16 places driven by an improvement in a number of metrics including wage growth, economic output and university ranking.”
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