Research by property developer, StripeHomes, has revealed that the government’s plans to ‘level up’ the UK could boost the value of the nation’s property market by a staggering £58.7bn. 

In total, 96 areas the length and breadth of the UK have been earmarked for ambitious regeneration projects by the government, with a number of smaller areas also due to benefit to a lesser extent. 

StripeHomes analysed the current value of bricks and mortar across each of these 96 areas, the potential increase due to the benefit of this wider regeneration and what this equates to when taking the existing size of the property market into consideration. 

The research shows that the average homeowner in a level up area due to benefit from government regeneration plans could see the value of their home boosted by £8,022. StripeHomes estimates that this total benefit across all 96 areas could be as high as £58.7bn based on the boost to house prices and the total number of homes that could benefit. 

Yorkshire and the Humber is the region set to enjoy the biggest uplift. Eight areas in the region have been earmarked by the government for levelling up and StripeHomes estimates that this regeneration could add over £9bn in value to the regions property market. 

The East Midlands could also see a huge boost of almost £8.5bn, followed by Scotland (£6.8bn), the North West (£6.6bn) and the West Midlands (£6.5bn). 

In terms of the individual areas due to enjoy the biggest benefit, Derbyshire ranks top. StripeHomes estimates the regeneration of the area could bring about a boost of £7,709 to the average homeowner. With some 438,882 properties in the area, that’s an increase of almost £3.4bn in property market value. 

Birmingham is also set to enjoy one of the largest uplifts in housing market value (£3.3bn), along with Gloucestershire (£3.3bn), Edinburgh (£2.8bn) and Leeds (£2.8bn).

Managing Director of StripeHomes, James Forrester, commented:

“Any level of regeneration will always have a positive impact on the surrounding property market and on average, house prices tend to climb by around 3.6%. While this may sound like a modest increase for the individual homeowner, it’s a pretty staggering boost to the market when you consider the overall impact.

Of course, we will need to see just what the government delivers on and where when it comes to their plans to level up the UK, but it’s safe to say that the areas that are due to benefit should see a healthy uplift in property market values. 

It’s also reassuring to see that the intention to spread opportunity and prosperity to all parts of the UK is there, with London taking a bit of a backseat in terms of focus.”

Levelling up information sourced from Gov.uk – Levelling up the United Kingdom

Dwellings stock data souced from Gov.uk – Live tables on dwellings and Gov.scot – Housing statistics by tenure

Current market values sourced from Gov.uk – UK House Price Index

Regeneration uplift based on an average annual increase of 3.6%, sourced from CBRE

Table shows the total estimated boost in value to each areas property market as a result of level up regeneration
Area	Estimated total market boost
Yorkshire and the Humber	£9,039,505,239
East Midlands	£8,449,709,322
Scotland	£6,827,963,029
North West	£6,598,682,977
West Midlands	£6,503,443,412
South West	£5,230,750,056
South East	£4,418,082,679
East of England	£3,956,390,217
North East	£2,632,600,876
London	£2,495,795,197
Northern Ireland	£1,995,555,597
Wales	£515,595,958
Total	£58,664,074,559

Table shows the total estimated boost in value to each areas property market as a result of level up regeneration
Levelling-up fund	Region	Current average house price (£)	Potential regeneration boost (£)	Est number of homes	Est total value of regeneration boost (£)
Derbyshire	East Midlands	£214,138	£7,709	438,882	£3,383,324,950
Birmingham	West Midlands	£208,712	£7,514	445,276	£3,345,647,283
Gloucestershire	South West	£314,828	£11,334	294,777	£3,340,950,936
Edinburgh	Scotland	£316,864	£11,407	248,000	£2,828,963,104
Leeds	Yorkshire and the Humber	£217,725	£7,838	353,857	£2,773,568,734
Lincolnshire	East Midlands	£217,547	£7,832	345,339	£2,704,590,110
Glasgow	Scotland	£164,382	£5,918	310,000	£1,834,507,580
Sheffield	Yorkshire and the Humber	£198,563	£7,148	251,887	£1,800,555,737
Newham	London	£406,362	£14,629	120,347	£1,760,560,772
Manchester	North West	£210,534	£7,579	231,000	£1,750,803,269
Central Bedfordshire	East of England	£355,137	£12,785	123,969	£1,584,936,834
Liverpool	North West	£166,576	£5,997	231,504	£1,388,268,788
Bradford	Yorkshire and the Humber	£163,091	£5,871	217,370	£1,276,237,865
County Durham	North East	£123,123	£4,432	245,102	£1,086,394,775
Solihull	West Midlands	£316,635	£11,399	93,060	£1,060,777,467
Leicester	East Midlands	£206,712	£7,442	138,196	£1,028,403,573
Wakefield	Yorkshire and the Humber	£179,333	£6,456	159,054	£1,026,853,128
Southend on Sea	East of England	£315,331	£11,352	81,291	£922,808,085
Plymouth	South West	£206,765	£7,444	120,243	£895,033,086
Nottingham	East Midlands	£175,682	£6,325	140,477	£888,453,380
Salford	North West	£199,370	£7,177	123,256	£884,645,569
Newcastle	North East	£180,027	£6,481	133,057	£862,341,555
Portsmouth	South East	£235,572	£8,481	90,945	£771,266,653
Belfast	Northern Ireland	£150,267	£5,410	142,449	£770,594,662
Luton	East of England	£262,956	£9,466	80,592	£762,917,025
Doncaster	Yorkshire and the Humber	£152,141	£5,477	138,997	£761,298,849
Bolton	North West	£167,666	£6,036	124,907	£753,934,794
Wolverhampton	West Midlands	£182,944	£6,586	111,588	£734,916,898
Tameside	North West	£190,588	£6,861	103,467	£709,904,545
Ashford	South East	£350,214	£12,608	55,101	£694,697,555
Isle of Wight	South East	£270,510	£9,738	70,981	£691,237,859
Rotherham	Yorkshire and the Humber	£162,914	£5,865	116,955	£685,930,093
Peterborough	East of England	£222,674	£8,016	85,542	£685,728,273
Hove	South East	£488,125	£17,573	38,292	£672,880,313
Bury	North West	£213,494	£7,686	84,294	£647,866,616
Aberdeen	Scotland	£149,464	£5,381	117,000	£629,542,982
Sunderland	North East	£134,865	£4,855	129,353	£628,026,304
Hull	Yorkshire and the Humber	£126,593	£4,557	122,142	£556,641,731
Stoke-on-Trent	West Midlands	£130,519	£4,699	117,342	£551,353,174
Bromsgrove	West Midlands	£322,474	£11,609	41,908	£486,512,747
Gloucester	South West	£235,015	£8,461	57,173	£483,715,224
Eastbourne	South East	£268,300	£9,659	49,125	£474,487,759
Renfrewshire	Scotland	£148,494	£5,346	87,000	£465,082,047
Ards and North Down	Northern Ireland	£179,557	£6,464	67,027	£433,263,741
Falkirk	Scotland	£154,156	£5,550	75,000	£416,222,416
Forest of Dean	South West	£284,527	£10,243	38,786	£397,283,836
Lisburn and Castlereagh	Northern Ireland	£183,392	£6,602	60,159	£397,174,493
Chesterfield	East Midlands	£192,291	£6,922	49,998	£346,109,559
North Ayrshire	Scotland	£122,741	£4,419	68,000	£300,470,355
Nine Elms	London	£753,950	£27,142	8,783	£238,387,681
Montgomeryshire	Wales	£231,689	£8,341	26,575	£221,653,224
Chatham	South East	£192,000	£6,912	31,997	£221,160,960
West Dunbartonshire	Scotland	£131,915	£4,749	45,000	£213,702,964
Margate	South East	£223,250	£8,037	25,510	£205,020,521
Littlehampton	South East	£458,750	£16,515	11,581	£191,264,344
Northolt	London	£414,000	£14,904	12,589	£187,628,940
Derry	Northern Ireland	£143,846	£5,178	35,423	£183,438,173
Whitechapel	London	£534,500	£19,242	8,789	£169,113,128
Bognor Regis	South East	£458,750	£16,515	10,027	£165,590,400
Barrow-in-Furness	North West	£135,184	£4,867	33,619	£163,610,580
Burnley	North West	£108,351	£3,901	41,245	£160,881,665
Kidderminster	West Midlands	£191,333	£6,888	23,138	£159,370,822
Halifax	Yorkshire and the Humber	£119,832	£4,314	36,723	£158,419,102
Ramsgate	South East	£252,541	£9,091	16,837	£153,070,151
South Kilburn	London	£615,750	£22,167	6,320	£140,104,676
Inverness	Scotland	£196,619	£7,078	19,704	£139,471,582
Seaford	South East	£349,100	£12,568	10,240	£128,692,224
Bridgwater	South West	£183,750	£6,615	17,198	£113,766,975
Birkenhead	North West	£82,000	£2,952	37,008	£109,246,140
Bedworth	West Midlands	£183,400	£6,602	12,770	£84,312,648
Cannock	West Midlands	£185,063	£6,662	12,091	£80,552,372
Pontypridd	Wales	£160,000	£5,760	13,003	£74,894,400
Aberystwyth	Wales	£199,750	£7,191	7,539	£54,211,151
Antrim	Northern Ireland	£153,896	£5,540	9,740	£53,959,785
Newhaven	South East	£265,500	£9,558	5,097	£48,713,940
Glengormley	Northern Ireland	£150,267	£5,410	8,761	£47,395,098
Farndon and Balderton	East Midlands	£258,750	£9,315	5,068	£47,203,763
Dundonald	Northern Ireland	£183,392	£6,602	6,708	£44,283,631
Omagh	Northern Ireland	£142,846	£5,142	8,191	£42,123,143
Carmarthen	Wales	£173,500	£6,246	5,910	£36,916,463
Gainsborough	East Midlands	£109,750	£3,951	8,751	£34,576,189
Colne	North West	£110,225	£3,968	7,440	£29,521,011
Eaglescliffe	North East	£180,500	£6,498	4,408	£28,642,643
Haverfordwest	Wales	£154,950	£5,578	5,018	£27,988,619
Yarm	North East	£216,250	£7,785	3,493	£27,195,600
Brecon	Wales	£189,175	£6,810	3,438	£23,410,406
Coed-Ely	Wales	£157,250	£5,661	3,882	£21,976,474
Twycross	East Midlands	£358,750	£12,915	1,320	£17,047,800
Portrush	Northern Ireland	£174,664	£6,288	2,689	£16,909,265
Pembroke	Wales	£142,719	£5,138	3,147	£16,167,208
Llandrindod Wells	Wales	£150,575	£5,421	2,212	£11,991,040
Llangollen	Wales	£203,000	£7,308	1,524	£11,138,610
Porth	Wales	£113,000	£4,068	2,488	£10,119,150
Castlederg	Northern Ireland	£143,674	£5,172	1,240	£6,413,606
Llandeilo	Wales	£190,500	£6,858	748	£5,129,213