Economic Overview of the Harrogate District Quarter 2, 2016/17 (1 … · Economic Overview of the...
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Economic Overview of the Harrogate District Quarter 2, 2016/17 (1 July – 30 September 2016) 1 Q2 2016/17 803 175 0 2,000 4,000 6,000 Q2 2015 Q3 Q4 Q1 Q2 2016 6.8% 6.6% 6.8% 7.0% 7.2% 7.4% 7.6% Q2 2015 Q3 Q4 Q1 Q2 2016 575 581 490 540 590 Q2 2015 Q3 Q4 Q1 Q2 2016 Planning Applications Received The number of planning applications received during Q2 2016/17 was comparable with Q2 2015/16. However, 581 applications is the second highest quarterly figure since recording began for this purpose in 2011. Permitted Development Rights: Office to Residential 175sqm of office floorspace was planned for conversion to residential use in Q2 2016/17 – a 78% annual decrease and the lowest quarterly figure since recording began for this purpose in 2014. £220 £230 £240 £250 £260 £270 £280 Q2 2015 Q3 Q4 Q1 Q2 2016 Thousands Annual Comparison 943 643 500 600 700 800 900 1000 Q2 2015 Q3 Q4 Q1 Q2 2016 Retail Vacancy Rate The district’s retail vacancy rate remained consistent year-on- year. At the end of September 2016 there were 1,253 retail units across the district (12 units less than September 2015) of which 88 were vacant (86 in September 2015). Pateley Bridge’s vacancy rate declined from 10.3% to 7.7% after one of four long-term vacant units became occupied. Property Markets New Dwellings The number of new homes completed during Q2 2016/17 was 21% higher than in Q2 2015/16. Half of the completed dwellings (46) were sourced from the permitted development rights afforded to commercial properties, whilst 64 (70%) of new homes were situated in Harrogate Town. Housing Transactions The number of house sales reduced by 32% year-on-year. Organisations such as the National Association of Estate Agents (NAEA) and the Royal Institution of Chartered Surveyors (RICS) have reported a fall in sales and enquiries since the EU referendum. Median House Price The median house price in the district increased by 6% annually – a decline on the Q1 annual growth rate (9.6%). The highest price paid for a freehold property in Q2 was £1.825 million (Kirkby Overblow) whilst a property in Walshford near Wetherby sold for £95k. The district average of £265k was 35% above the median house price for the rest of North Yorkshire in Q2 (£197k). 75 91 20 40 60 80 100 Q2 2015 Q3 Q4 Q1 Q2 2016 £265,000 £250,000 Completed Homes 7%
Transcript of Economic Overview of the Harrogate District Quarter 2, 2016/17 (1 … · Economic Overview of the...
Economic Overview of the Harrogate District Quarter 2, 2016/17 (1 July – 30 September 2016)
1 Q2 2016/17
803
175 0
2,000
4,000
6,000
Q2 2015 Q3 Q4 Q1 Q2 2016
6.8% 6.6%
6.8%
7.0%
7.2%
7.4%
7.6%
Q2 2015 Q3 Q4 Q1 Q2 2016
575 581
490
540
590
Q2 2015 Q3 Q4 Q1 Q2 2016
Planning Applications Received The number of planning applications received during Q2 2016/17 was comparable with Q2 2015/16. However, 581 applications is the second highest quarterly figure since recording began for this purpose in 2011.
Permitted Development Rights: Office to Residential 175sqm of office floorspace was planned for conversion to residential use in Q2 2016/17 – a 78% annual decrease and the lowest quarterly figure since recording began for this purpose in 2014.
£220
£230
£240
£250
£260
£270
£280
Q2 2015 Q3 Q4 Q1 Q2 2016
Tho
usa
nd
s
Annual Comparison
943
643
500
600
700
800
900
1000
Q2 2015 Q3 Q4 Q1 Q2 2016
Retail Vacancy Rate The district’s retail vacancy rate remained consistent year-on-year. At the end of September 2016 there were 1,253 retail units across the district (12 units less than September 2015) of which 88 were vacant (86 in September 2015). Pateley Bridge’s vacancy rate declined from 10.3% to 7.7% after one of four long-term vacant units became occupied.
Property Markets
New Dwellings The number of new homes completed during Q2 2016/17 was 21% higher than in Q2 2015/16. Half of the completed dwellings (46) were sourced from the permitted development rights afforded to commercial properties, whilst 64 (70%) of new homes were situated in Harrogate Town.
Housing Transactions The number of house sales reduced by 32% year-on-year. Organisations such as the National Association of Estate Agents (NAEA) and the Royal Institution of Chartered Surveyors (RICS) have reported a fall in sales and enquiries since the EU referendum.
Median House Price The median house price in the district increased by 6% annually – a decline on the Q1 annual growth rate (9.6%). The highest price paid for a freehold property in Q2 was £1.825 million (Kirkby Overblow) whilst a property in Walshford near Wetherby sold for £95k. The district average of £265k was 35% above the median house price for the rest of North Yorkshire in Q2 (£197k).
75
91
20
40
60
80
100
Q2 2015 Q3 Q4 Q1 Q2 2016
£265,000
£250,000
Completed Homes
7%
Economic Overview of the Harrogate District
2 Q2 2016/17
Q2 2016/17 Q2 2015/16
1 Human health activities ► Human health activities
2 Food and beverage services ▲ Education
3 Education ▼ Food and beverage services
4 Retail ▲ Social work activities without accommodation
5 Scientific research and development ▲ Retail
6 Accommodation ▲ Manufacture of food products
7 Social work activities without accommodation ▼ Scientific research and development
8 Insurance & Pensions ▲ Accommodation
9 Residential care activities ► Residential care activities
10 Office administration & support ▲ Advertising and market research
Q2 2016/17 Q2 2015/16
1 Microsoft Excel ► Microsoft Excel
2 Customer Service ► Customer Service
3 Building Relationships ► Building Relationships
4 Sales ► Sales
5 Microsoft Office ► Microsoft Office
6 Product Sales ▲ Business Management
7 Key Performance Indicators ▲ JavaScript (computer programming)
8 Customer Contact ▲ Key Performance Indicators
9 Business Management ▼ SQL (computer programming)
10 Invoicing ▲ Product Sales
£26
£27
£28
£29
Q2 2015 Q3 Q4 Q1 Q2 2016
Tho
usa
nd
s
Annual Comparison Employment & Hardship
0.6%
0.4%
0.5%
0.6%
0.7%
0.8%
Q2 2015 Q3 Q4 Q1 Q2 2016
£26,628
47%
Mean Salary of Advertised Jobs The mean average salary of jobs advertised in the district during Q2 reduced annually by 2.5%. £26,628 was 18% below the Q2 Leeds City Region average of £31,459 and 8% below the York, North Yorkshire & East Riding average of £28,769.
0.5%
Out of Work Benefit Claimants (% working-age) The percentage of residents aged 16-64 claiming JSA or Universal Credit and required to seek work reduced annually - with a total of 460 claimants across Harrogate District. 0.5% is below the regional (2.2%) and national averages (1.7%). The Ward of Low Harrogate had the highest claimant rate (1.1%).
Advertised Jobs – Top 10 Sectors
Advertised Jobs – Top 10 Skills in Demand
Annual Comparison
£27,307
Economic Overview of the Harrogate District
3 Q2 2016/17
Q2 2016/17 Q2 2015/16
1 Professional, scientific & technical activities ► Professional, scientific & technical activities
2 Personal & community service activities ▲ Administrative & support services
3 Administrative & support services ▼ Retail trade and repair
4 Retail trade and repair ▼ Personal & community service activities
5 Human health & social work ► Human health & social work
6 Accommodation & food service ► Accommodation & food service
7 Information & communication ▲ Recreational, cultural & sporting activities
8 Recreational, cultural & sporting activities ▼ Other construction activities
9 Buying, selling & renting of real estate ▲ Information & communication
10 Agriculture, hunting & forestry ▲ Buying, selling & renting of real estate
Acquirer Target Deal Type Deal Value
Adler & Allan Ltd (Harrogate): founded in 1926, the company is engaged in the oil
industry and environmental services.
Worcester Electrical Services Ltd (Bromsgrove): specialists in electrical
installations, engineering, maintenance and design in hazardous areas, e.g. Petrol
Forecourts.
Acquisition: 100%
N.A.
Cityfibre Infrastructure Holdings PLC (London): provides fibre-optic infrastructure via metro fibre rings and fibre to the premise
(FTTP) networks for the public and private sectors in the UK.
Redcentric PLC’s metropolitan duct and fibre network assets (Nationwide).
Acquisition: 100%
€5.8 million
38
46
28
33
38
43
48
Q2 2015 Q3 Q4 Q1 Q2 2016
Annual Comparison
Households Accepted as Homeless and in Priority Need The number of households accepted by the council as homeless and in priority need increased year-on-year by 21%. 46 households is the highest quarterly figure since recording began for this purpose – and follows a previous record high in Q1. In contrast, the 2013/14 quarterly average was 12 households.
293
241 230
255
280
Q2 2015 Q3 Q4 Q1 Q2 2016
New Business Bank Accounts Q2 saw a record-low number of new businesses in Harrogate District for the fourth consecutive quarter. This is reflected across a wider geography with the overall Leeds City Region (LCR) Q2 business start-up rate (20.1) was the second lowest figure since records began in 2008 and 20% below the Harrogate district rate of 24.2 (research is planned to identify possible reasons for this)
New Investment & Enterprise
New Businesses – Top 10 Sectors
Significant Mergers & Acquisitions
Economic Overview of the Harrogate District
4 Q2 2016/17
71,712
20,000
30,000
40,000
50,000
60,000
70,000
80,000
Q2 2015 Q3 Q4 Q1 Q2 2016
30,076
10,000
15,000
20,000
25,000
30,000
35,000
Q2 2015 Q3 Q4 Q1 Q2 2016
110,000
130,000
150,000
170,000
190,000
210,000
Q2 2015 Q3 Q4 Q1 Q2 2016
Visitor Economy 72,903
33,314
Tourist Information Centre (TIC) Visitors TIC visitor numbers remained consistent year-on-year. However, Harrogate TIC experienced a significant annual increase in visitors (+3,227/+6%) whilst Ripon TIC saw a considerable decline in visitor numbers (-2,016/-24%).
www.visitharrogate.co.uk Website Sessions
The number of sessions on Visit Harrogate’s website increased annually by 24%. 95% of ‘traffic’ originated from the UK (92.5% in Q2 2015/16). The US accounted for the largest international audience (1.1%). Sessions originating from Sweden (+46%) and Norway (+83%) notably increased when compared with Q2 2015/16.
Visitors at Council Museums The quarterly number of visits to the council’s museums increased year-on-year by 11%. The Mercer Art Gallery and Royal Pump Room Museum performed particularly well over the summer, whilst other venues were boosted by events across the district.
Annual Comparison
199,469
161,000
Sources of Information
New Dwellings: Harrogate Borough Council
Housing Transactions: Land Registry
Median House Price: Land Registry
Planning Applications Received: Harrogate Borough Council
Permitted Development Rights: Office to Residential: Harrogate Borough Council
Retail Vacancy Rate: Harrogate Borough Council
Mean Salary of Advertised Jobs: Labour Insight
Advertised Jobs – Top 10 Industries: Labour Insight
Advertised Jobs – Top 10 Skills in Demand: Labour Insight
Out of Work Benefit Claimants (% working-age): Department for Work and Pensions/Nomis
Households Accepted as Homeless and in Priority Need: Harrogate Borough Council
New Business Bank Accounts: Banksearch Consultancy
New Businesses – Top 10 Sectors: Banksearch Consultancy
Significant Mergers & Acquisitions: Bureau van Dijk - Fame
Tourist Information Centre (TIC) Visitors: Harrogate Borough Council
www.visitharrogate.co.uk Sessions: Harrogate Borough Council
Visitors at Council Museums: Harrogate Borough Council
For more information and to sign up to the Harrogate district business e-newsletter: [email protected]
