Manchester, Glasgow, Leeds and Liverpool are set to emerge as the top tech hotspots of tomorrow, according to new research conducted by HouseSimple.com.
The online estate agent took the 30 digital tech hubs previously identified in the 2017 Tech Nation Report - described as ‘the most comprehensive analysis of the UK digital tech ecosystem’ - and ranked each city by average house price, availability of digital jobs and potential for tech sector growth.
Surprisingly, it was Manchester - not London - that came out on top. With an average house price of £161,611, 60,000 digital jobs and tech sector growth potential of 85%, Manchester is well placed once the UK leaves the EU.
Glasgow was the runner-up, boasting an average house price of just £119,487 and tech sector growth potential of 81%. The city has only a third of the digital jobs that Manchester has however.
Leeds placed third, with a higher average property price than Manchester (£171,052), but the second highest tech sector growth potential (92%) of any of the tech hubs.
While London has established itself as one of the world’s leading tech capitals, average house prices (£481,345) are three times higher than in Manchester and four times higher than in Glasgow. As such, London ranked 19th.
According to Alex Gosling, CEO of HouseSimple: “The digital economy is expanding rapidly, creating new jobs and opportunities in cities across the UK. London has been the beacon for the digital tech sector in the UK, but the flame is starting to burn a little less brightly, as the high cost of living and unaffordable property prices has seen an exodus of tech workers and tech businesses.
“With tech start-ups able to tap into a growing pool of highly skilled workers outside the capital, the regional tech hubs are thriving. In fact, according to the latest Tech Nation report, more than two thirds (68%) of total UK digital tech investment in 2016 was in regional clusters beyond London.
“Regional tech hubs are set to boom over the next few years, as the local digital economies become more established. And the regions best placed to take advantage of the investment being pumped into the digital tech sector will be the ones that can offer not just the best job opportunities but also the best quality of life.”
Last year, digital tech investment in the UK reached almost £7Bn, turnover for the UK digital tech industry rose to £170Bn and there are now more than 1.6 million digital tech jobs in the UK.