Data from Property Inspect has revealed the effect independent retailers can have on the top 10 cities across the UK, with some staggering results.
The statistics have shown how the UK’s most affluent areas feature the most independent, or ‘indie’, shops and illustrate how 6 out of the top 10 cities have a higher-than-average house price.
The Office of National Statistics reported the average UK house price was £281,000 in April 2022, but with areas such as Cambridge boasting figures close to £500,000 as an average asking price; it’s no wonder independent shops thrive in areas such as these.
Cambridge had the highest ratio of indie retailers per capita, followed by York, Brighton, Preston, and Norwich.
Warrick Swift at Property Inspect, said: “Independent retailers can have a big impact on a city, and they have a positive effect in a variety of ways. Areas with large amounts of independent shops appeal to tourists and visitors, which helps drive up profits and business growth for the city.
“This means you see a more marketable and profitable city, which attracts more prospective residents to consider areas such as York, Bristol and Oxford as places to move or potentially buy property.”