Despite stagnant Northern Powerhouse initiatives, office-space marketplace OfficeGenie.co.uk has found business to be thriving in the North: Searches for properties across the five cities marked out by Mr Osborne rose by a remarkable 56% last quarter, compared to a 21% rise in London.
Liverpool led the way with a whopping 90% rise; Sheffield (78%) and Leeds (77%) followed close behind; and Newcastle (54%) and Manchester (29%) also came in ahead of the capital.
Mr Osborne has claimed he plans to “rebalance our national economy” and ensure the “future of the North is as bright, if not brighter, than other parts of the UK” but when it comes to office space demand, it appears the North is already lighting the way.
There has been a lot proposed that businesses are waiting to see come into effect. The recent budget announced a whole host of initiatives – from HS3 to local science and innovation audits – but most are yet to be acted upon.
The figures suggest plenty of businesses want to work in the North of England, which seems to be booming regardless.
Peter Ames, Head of Strategy at Office Genie, comments:
“A rise in office space demand is great news – it reflects a healthy business environment in which more businesses are being set up, and others are growing.
“It proves the North of England has been, and will continue to be, a hotbed of business activity in the UK – as it was long before the Northern Powerhouse was imagined.
“If anything it’s a good thing the project’s HQ was infamously moved from Sheffield to London; the extra space should help deal with this boost in demand!”