A study completed by Raisin Banking analysed the business survival rates of 20 of the biggest cities across the UK. This included office costs as well as unemployment figures within the cities. The study was then designed to select the best cities to start a new business in, and in turn, the best cities for investment.
This research showed that Peterborough is the sixth best city in the county to invest in, or to buy a new home in.
It is reported that over 670,000 new businesses are started in the UK every single year. Sadly, one in five of these businesses will fail after it’s first year. However, when looking at Peterborough for new businesses, research shows that the business survival rate is over 87.6%.
The job claimant rate for Peterborough is also very low. In turn, this reduces the risk of petty crime, homelessness and other similar issues. Research shows that the more people in work, the nicer the area is to live for everyone. In fact, before the pandemic and the lockdown, house prices in Peterborough had risen by 26.5% in the previous two years. This is because Peterborough is a place where people want to live.
If you are looking to live in Peterborough and get an office in the local area, you’ll find the average cost of office space compares very favourably to local cities. In fact, the cost of office space in Peterborough works out at roughly £17 per square foot. This is a lot less than office space in neighbouring cities.
As well as being a home to many small businesses, Peterborough remains home to some larger companies too. These include Hotpoint, British Sugar, Perkins, Caterpillar, Amazon, IKEA and Perkins. All of these large companies offer a lot of employment opportunities to those living in and around Peterborough.
The Cambridgeshire and Peterborough Combined Authority also received £170 million in recent years. This was given to fund more affordable housing in the city of Peterborough. Just another reason to show that Peterborough is a great city to invest and live in.
If you are looking to move to Peterborough and need help house hunting, call our team. We will take the time to understand what you want from your next home, and help you find the perfect house for you.
