Milton Keynes is forecast to see the highest jobs growth of the locations surveyed outside London over the next five years as investment confidence in the town soars, according to Lambert Smith Hampton’s UK Vitality Index 2017.
The report, published by the national commercial property consultancy, reveals that the growing town has leaped three places from tenth to seventh in the index as one of the leading locations best placed to support economic expansion over the next 12 months.
In particular, Milton Keynes was ranked as the ‘Most Productive’ in the six sub-indices, retaining its position at the top of this index for the second year running.
Milton Keynes is forecast to see the highest growth in jobs over the next five years and saw one of the strongest increases in average wages in 2016. Reflecting the expansive confidence of the town, 2016 saw a major proposal for a 20 storey mixed-used tower, which will comprise up to 250,000 sq ft of offices, 250 PRS homes and a skyline restaurant.
The LSH UK Vitality Index assesses the UK’s 65 largest towns and cities outside London to provide a health check of their local economies and identify which are most robust, are best positioned to support growth and will provide the greatest opportunities for businesses to expand. The results are based on the analysis of 20 datasets, with each location ranked within six separate categories: most productive, fastest growing, most entrepreneurial, best educated, greenest and rising affluence.
Overall, the top 10 towns and cities in the UK Vitality Index 2017 are:
7. Milton Keynes
9. St Albans
Lloyd Spencer, Head of Office – Milton Keynes at LSH, commented: “Despite last summer’s vote for Brexit, the overall health of the majority of the UK’s major towns and cities has improved. It is therefore not surprising that somewhere like Milton Keynes, with its first class economy, location and skilled workforce, is one of the places leading the way when it comes to its growth prospects.”