A stellar economy predicted to grow by 56% by 2030
York is perfectly placed at the heart of the UK, and regularly voted one of Europe’s favourite destinations to live, visit, and do business. With its combination of excellent infrastructure, well-educated workforce and quality of life it’s a popular buy-to-let choice. York has one of the UK’s fastest growing economies and is a great investment location for those looking to benefit from a dynamic area.
The population of York is currently around 197,800 people, according to the 2011 Census, which equates to an increase of 9.4% in the last ten years.
York has a thriving economy, home to over 8,000 businesses. It supports more than 113,000 jobs and contributes some £4 billion of value to the national economy. York’s economy is predicted to grow a further 56% by 2030.
The local property market is booming, with residential prices in York currently at around 9% above the national average. They saw a rise of 7.4% in the last twelve months.
Under two hours from London and close to Leeds (the UK’s largest financial centre outside London) York has a strong and growing financial and professional services sector, emerging as a UK insurance hub, with 4.5% of its GVA attributable to the insurance sector, which is four times the national average. Aviva and Hiscox are amongst a number of internationally renowned firms located in York.
A founding Science City with top university bioscience departments, York has many centres of excellence and a pioneering business sector. This includes major employers such as Smith and Nephew.
Home to over 130 businesses in the health science and bio-analytics industries York is emerging as a key national and European hub for health innovation. With a further 200 in the surrounding Yorkshire region, the city is attracting more industries looking to expand.
York is a major UK rail hub, built on cutting edge transport technology and business innovation. Unsurprising when you learn it’s home to the headquarters of Network Rail, rail engineers Tata Steel and Siemens Rail, Signalling Solutions VolkerRail, and transportation software systems Omnicom Engineering and Trapeze Rail Group. With two-thirds of the region’s passenger rail industry and 10% nationally, York really is the UK city for rail.
Get the full investment story with your free copy of York Property Investment Guide.
Economy & Employment
York’s employment is set to grow at 4% more than the UK average by 2030 according to growth projections.
York’s new science and technology ventures and business start-ups are growing rapidly with generous mentoring, marketing and financial support and benefit from the flurry of activity around the University, with its academic expansion and access to the specialist facilities available at the city’s Science Park.
Young dynamic companies sit alongside global giants such as Smith and Nephew and the UK Government’s Food and Environment Research Agency (FERA). Nestlé’s decision to enhance its R&D role in York further shows the city’s ability to build on its traditional manufacturing prominence to create a rich future based on scientific and technological innovation.
Award-winning companies based in the region include Depuy International, part of the Johnson & Johnson group, Brandon Medical, Surgical Innovations and Xiros. York is also home to other health care technology businesses, such as regenerative medicine companies Neotherix and Tissue Regenix; drug discovery and development companies Neoceuticals and Cizzle Biotechnology; and diagnostic companies Yorktest Laboratories, Aptamer Group and Forsite Diagnostics.
Discover more reasons to invest with the York Property Investment Guide.
Investment
York’s economy is set to grow at 4% more than the UK average.
York’s knowledge-driven economy is among the strongest in the UK, with innovation clusters around cutting-edge industrial biotech research for competitive advantage. Agri-tech and hi-tech rail, sitting alongside thriving retail, tourism, digital/IT and financial and insurance sectors are creating significant demand for residential and business space and York is uniquely placed, with multiple centres of excellence and bespoke commercialisation facilities.
York is recognised as the number one city in the UK for human resources and quality of life, as well as being in the top five best UK cities and top 10 European small cities for business investment.
York is also home to fast-growing and thriving Creative, IT and Digital technologies sectors with hundreds of companies operating across media arts, ICT, electronics, software and digital industries.
Recognising the city’s strengths in this area York is bidding to become a UNESCO City of Media Arts and Creative IT. Digital sectors are being supported by major investment to deliver citywide ultra-fast broadband infrastructure, delivering speeds of up to 1Gb direct to 1000s of homes and businesses across the city.
Read more in your free copy of York Property Investment Guide.
Transport
Air: York is served by Leeds-Bradford Airport, which offers non-stop flights to 62 cities, by 25 airlines. The airport is around 32 miles away by road, with a journey time of under an hour. Manchester Airport is a little further away but is directly linked to York by an hourly TransPennine Express train service.
Rail: York Railway Station is the home of the Railway Museum, and also the centre for local and national rail services for the district. Extensive services are operated by Virgin Trains East Coast, Cross Country, East Midlands Trains, First TransPennine Express, Grand Central and Northern Rail, providing transport to most regions throughout the country.
Road: York is circled by the A64 to the south and the A1237 to the north. These routes connect with the A19 running north-south, and also, via the A59 and A64 links to the M1 Motorway, thus providing easy connection with the rest of the country.
Bus: York has no less than 6 park-and-ride sites, with services running every ten minutes throughout the day, seven days a week. Local and regional services are operated by several companies, and the city has probably one of the best-co-ordinated travel systems in the UK.
Education
York has 53 primary schools, 9 secondary schools and 8 independent schools in its catchment area.
Notable schools include Fulford School,v a co-educational comprehensive school. Founded in 1963 it has been a comprehensive school since 1970. The school is situated in Fulford on the southern edge of the city of York, about half a mile from the University of York. Fulford has a large catchment area, taking in pupils from some of York city centre as well as from several local villages. The school has the distinction of being ranked at number 98 in the whole of the UK, by Ofsted.
Further Education: Askham Bryan College is a specialist college based in York. It also has other centres throughout the country. Built in 1936, the college runs courses in Agriculture, Animal Management, Equine Management, Engineering, Motor Sport, Horticulture, Food Technology, Arboriculture, Floristry, Environmental Management, Highways Maintenance, Plant Maintenance and General Education.
Higher Education: Over 15,000 students attend the University of York, at its campuses throughout the city, and over 6,000 attend the York St. John University, also located in the city.
Shops & Leisure
Shopping & Dining: As well as the usual side-street artisans and boutiques, shoppers will love the high street fashion and lifestyle stores in the city centre’s Coppergate Shopping Centre. Further south is the renowned York Designer Outlet. Set within a beautiful landscaped garden setting, this is a must-visit fashion and shopping destination. With 120 of your favourite designer brands, as well as a great selection of cafés and restaurants plus with free parking, and a covered children’s play area. Food-lovers must visit The Park restaurant in Marmadukes Town House Hotel. For fish and chips, head to The Sea Catcher, and the Shambles Kitchen is the place to be for snacks and lunches. All three eateries have rave reviews.
Sport & Culture: Sports fans will love York. Whether you’re a swimmer, cyclist, rider, batsman or raquet-sport participant, there is something to suit everyone. Indoor and outdoor sports are amply catered-for, and if spectating is your thing, you won’t be disappointed. Culture buffs won’t know where to start, with York’s huge selection of architectural delights, as well as its theatres, galleries, museums and festivals and the Grand Opera House. York is home to the National Railway Museum, the Yorvik Viking Centre, York Castle Museum and the York Dungeons. It is also home to the stunning York Minster, the largest Gothic cathedral in northern Europe.
Green Spaces: York has a range of formal parks and gardens, each has its own individual character, features and facilities. Bootham Stray is an important part of the historic landscape of York and a link to the surrounding farmland, with its great sense of space, but Wigginton Road, cutting through it makes this a piece of countryside in the city.
