In defence of northern property investment

photo credit: Scott Kuperus

Lesson number 367 in how to create a media row. Drum up a report saying people who live in northern England should be persuaded to move to the South East because where they live is not worth saving.

Despite some squirmy denials, that is essentially what the bright sparks at the Policy Exchange think tank have dreamt up for this week’s rent-a-debate. The reaction has been, predictably, about as warm as a February boat ride on the Mersey.

BBC radio ran quotes of a Bradford resident threatening to smack the reporter that even dared ask him the question. The phone lines were jammed by people saying just because they still kept coal in the bath shouldn’t mean they have to move to the smoke.

‘Encourage’ people to buy property in London

I’m inclined to agree with them. And I live in the Midlands. So that makes me an adequate referee. So, just to clarify, here’s a wee bit of the actual wording of the report: “There is no realistic prospect that our regeneration towns and cities can converge with London and the South East. There is, however, a very real prospect of encouraging significant numbers of people to move from those towns to London and the South East.”

Tyneside prices on the up

The last time I checked, parts of the north were actually quite attractive places to be. The Tyneside area has some of the few pockets of house price growth while values in London have declined recently. And while we’re talking about being ‘realistic’, let’s be realistic about London and South East.

London might command high house prices, but is the most traffic-choked overgrown sprawl in the whole of western Europe, and an overpriced, overrated hole wrapped up in its own self-importance. This report, from an SW1-based organisation, does nothing but prove this sentiment. As a fervent north-lover I’ll continue to live and invest in property up where if you lose your ferret, the neighbours will help you look, not stare straight ahead and turn up their ipods.

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