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Economic Overview of the Harrogate District Quarter 1, 2016/17 (1 April – 30 June 2016)
1 Q1 2016/17
6.5%
6.4%
6.6%
6.8%
7.0%
7.2%
7.4%
7.6%
Q1 2015 Q2 Q3 Q4 Q1 2016
3,223
0
2,000
4,000
6,000
8,000
Q1 2015 Q2 Q3 Q4 Q1 2016
220
230
240
250
260
270
Q1 2015 Q2 Q3 Q4 Q1 2016
Tho
usa
nd
s
Annual Comparison
Retail Vacancy Rate The district’s retail vacancy rate increased year-on-year by 0.9 of a percentage point. At the end of June 2016 there were 1,249 retail units across the district (17 units less than June 2015) of which 93 were vacant (82 in June 2015).
Property Markets
7.4%
Planning Applications Received The number of planning applications received during Q1 2016/17 was 4% lower than in Q1 2015/16. However, 580 applications is the second highest quarterly figure since recording began for this purpose in 2011.
Permitted Development Rights: Office to Residential 5,886 sqm of office floorspace was planned for conversion to residential use in Q1 2016/17 – an 83% annual increase. In the first six months of 2016, the council was notified that 9,250sqm of office floorspace could be lost through permitted development rights.
5,886
New Dwellings The number of new homes completed during Q1 2016/17 was 60% lower than in Q1 2015/16. 31 of the 37 completed dwellings were in Harrogate Town.
93
37
20
40
60
80
100
Q1 2015 Q2 Q3 Q4 Q1 2016
Housing Transactions The number of house sales reduced by 39% year-on-year, following four consecutive quarters of significant activity in the district’s housing market. The contributing factors to this decline will be explored and monitored throughout the year.
705
432 350
550
750
950
Q1 2015 Q2 Q3 Q4 Q1 2016
£263,000
£240,000
Median House Price The median house price in the district increased by 9.6% annually. £263,000 was 50% above the median house price for the rest of North Yorkshire in Q1 (£175k). The mean average house price in the district was £322k in Q1 2016/17.
607
580
490
540
590
Q1 2015 Q2 Q3 Q4 Q1 2016
Economic Overview of the Harrogate District
2 Q1 2016/17
Q1 2016/17 Q1 2015/16
1 Human health activities ► Human health activities
2 Food and beverage services ▲ Education
3 Education ▼ Food and beverage services
4 Scientific research and development ▲ Retail
5 Retail ▼ Social work activities without accommodation
6 Social work activities without accommodation ▼ Accommodation
7 Other professional, scientific and technical activities
▲ Scientific research and development
8 Accommodation ▼ Advertising and market research
9 Insurance & Pensions ▲ Manufacture of food products
10 -- Wholesale and retail trade (inc vehicle repair) -- Residential care activities
▲►
Residential care activities
Q1 2016/17 Q1 2015/16
1 Customer Service ▲ Microsoft Excel
2 Microsoft Excel ▼ Customer Service
3 Building Relationships ▲ SQL (computer programming)
4 Sales ► Sales
5 Business Management ▲ Building Relationships
6 Microsoft Office ▲ Business Management
7 Product Sales ▲ .NET Programming (computer programming)
8 Customer Contact ▲ Microsoft C# (computer programming)
9 Accountancy ▲ JavaScript (computer programming)
10 Business Development ▲ Teaching
£27
£28
£29
£30
£31
Q1 2015 Q2 Q3 Q4 Q1 2016
Tho
usa
nd
s
Annual Comparison Employment & Hardship
Mean Salary of Advertised Jobs The mean average salary of jobs advertised in the district during Q1 reduced annually by 8% and was 17% below the Q1 Leeds City Region average of £32,841.
£27,239
47%
0.4%
0.2%
0.3%
0.4%
0.5%
Q1 2015 Q2 Q3 Q4 Q1 2016
0.3% Claimants
Job Seekers Allowance (JSA) Claimants (% working-age) The district’s JSA claimant rate reduced annually and remains at its lowest recorded level for the third consecutive quarter, with 282 claimants across Harrogate District. 0.3% is the lowest rate of the North Yorkshire districts and is below the county average (0.6%) regional average (1.8%) and national average (1.4%).
£29,595
Advertised Jobs – Top 10 Sectors
Advertised Jobs – Top 10 Skills in Demand
Annual Comparison
Economic Overview of the Harrogate District
3 Q1 2016/17
Q1 2016/17 Q1 2015/16
1 Personal & community service activities ▲ Professional, scientific & technical activities
2 Professional, scientific & technical activities ▼ Administrative & support services
3 Administrative & support services ▼ Retail trade and repair
4 Retail trade and repair ▼ Accommodation & food service
5 Other construction activities ▲ Personal & community service activities
Acquirer Target Deal Type Deal Value
Bravo Investment Holdings Ltd (Maidstone)
Broker Network Holdings Ltd (Harrogate): a holding company whose subsidiaries are engaged in the business
of insurance brokerage in the United Kingdom.
Institutional buy-out: 100%
€55 million
Unknown Redcentric PLC (Harrogate): network-based managed services business delivering ICT solutions and services.
Minority stake: 4%
€13.6 million
VP PLC (Harrogate): equipment rental specialist which provides
equipment rental and associated services to a range
of market sectors.
TR PTY LTD (Australia): specialised technology solutions to corporate, industrial and government clients across
Australasia, including equipment rental, equipment sales, engineering and design, service and maintenance, and
calibration and repair.
Acquisition: 100%
€16.6 million
1600
1650
1700
1750
1800
1850
1900
Q1 2015 Q2 Q3 Q4 Q1 2016
300
251
240
265
290
315
Q1 2015 Q2 Q3 Q4 Q1 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%. 40 households is the highest quarterly figure since recording began for this purpose. In contrast, the 2013/14 quarterly average was 12 households.
Housing Benefit Claimants: Working-Age Earners The number of employed people claiming Housing Benefit for privately rented properties has reduced annually by 9%. However, 1,681 claimants remains significantly higher than the pre-recession (2007/08) average of 615.
New Business Bank Accounts Q1 saw a record-low 251 new businesses across Harrogate District – a 16% annual decrease. Over the same period the Leeds City Region experienced a 3% increase in new enterprise. However, the quarterly business start-up rate of 25.2 per 10,000 working-age population remains slightly above the Leeds City Region (LCR) rate of 22.9.
New Investment & Enterprise
33
40
25
30
35
40
45
Q1 2015 Q2 Q3 Q4 Q1 2016
Households
1,681
1,815
New Businesses – Top 5 Sectors
Significant Mergers & Acquisitions
Economic Overview of the Harrogate District
4 Q1 2016/17
48,408
20,000
40,000
60,000
80,000
Q1 2015 Q2 Q3 Q4 Q1 2016
Visitor Economy
55,409
22,007
10,000
15,000
20,000
25,000
30,000
35,000
Q1 2015 Q2 Q3 Q4 Q1 2016
20,320
Tourist Information Centre (TIC) Visitors TIC visitor numbers in Q1 increased by 14% year-on-year. Harrogate TIC experienced the largest increase in visitors – with a total of 7,676 more visitors than in Q1 2015/16 (+21%).
www.visitharrogate.co.uk Sessions
The number of sessions on Visit Harrogate’s website decreased slightly year-on-year. 93.7% of ‘traffic’ originated from the UK (89.8% in Q1 2015/16). The US accounted for the largest international audience (1.4%) followed by Australia (0.54% of sessions) Germany, Netherlands (both 0.32%) Spain, Ireland (0.27%) and Canada (0.25%).
Visitors at Council Museums The quarterly number of visits to the council’s museums decreased year-on-year by 8%. Two exhibition changeovers at the Mercer Art Gallery during Q1 have contributed to a reduction in the number of visits.
Annual Comparison
120
130
140
150
160
170
180
Q1 2015 Q2 Q3 Q4 Q1 2016
Tho
usa
nd
s
164,624 168,558
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
Job Seekers Allowance (JSA) Claimants (% working-age): Department for Work and Pensions
Households Accepted as Homeless and in Priority Need: Harrogate Borough Council
Housing Benefit Claimants: Working-Age Earners: Harrogate Borough Council
New Business Bank Accounts: Banksearch Consultancy
New Businesses – Top 5 Industries: 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 our business e-newsletter: business@harrogate.gov.uk
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