They say travel broadens the mind, and even when viewed at purely a national level, I have to say I probably agree. Over the years, I’ve had the benefit of travelling the length and breadth of the country to speak at a wide variety of conferences, networking meetings, and property events, spreading the word about small-scale property development to the masses. And it’s been quite a diverse experience. One day, I might be presenting on stage to hordes of people at a London property show, and the next, it could be to a few dozen faithful at a networking event in a hotel in deepest darkest Lincolnshire.

Along the way, I’ve met some incredible people and received some exceptional hospitality. I’ve also been able to appreciate the differences between things based on our geography. For example, the price of a pint can be mind-bogglingly different between Winchester and Manchester, and I’ve also noticed that the prevailing accompaniment for chips can also vary significantly. In Hampshire, the choice is usually ketchup or mayo (curry sauce at a push), whereas I’ve rarely seen a chip north of Birmingham that doesn’t come with gravy.

For those of you who occasionally succumb to a cheeky Greggs on your travels (let’s be honest, we’ve all been there, literally), a recent study found that the cost of their now-iconic vegan sausage roll varied between £1.20 and £1.45 depending on where in the country you bought it. But that’s nothing compared with the price of a pint. The same study showed that a pint of Guinness would set you back around £2.50 in Yorkshire and Co. Durham, but it would cost you over £6.50 if you bought the same pint in Westminster. The drivers for most of these differences are all rather obvious; the cost of commercial rents and labour is higher in places like the capital, and so this needs to be reflected in the price.

So, how do these regional differences affect things from a property investment point of view? One of the things that I hear very regularly from the property investment community is that the best place to build a portfolio is in the North of England, where property prices are significantly cheaper. If we consider the numbers, this appears to make sense. Property prices in Stoke-on-Trent, for example, are certainly a lot more affordable than in London. However, while rents are cheaper up North, the difference is not as pronounced as the disparity between purchase values, and as a result,Northern rental yields are generally higher.