Lancashire’s strengths bring certainty in uncertain times

By Lancashire Business View

20 Dec 2016

In reality, the property market topped out two to three years ago in London and, whilst the recovery continued elsewhere, the regional property market was generally still pretty tough in the lead up to the EU referendum on June 23.

By Stephen Chalcraft, head of Slater and Gordon’s public sector and regeneration team and an honorary fellow of the Royal Institution of Chartered Surveyors.

The referendum result shone a spotlight on trading conditions that were probably harsher than people had previously wanted to accept, and also created uncertainty. Our long-held framework with Europe was likely to change fundamentally, and no one really knew what UK plc was going to look like.

However, none of this means that the property sector will stop in its tracks. Significant progress has been made in Lancashire with its shadow combined authority, and that will engender confidence and provide long-term stable governance; a key ingredient for growth in the real estate sector.

The county has a distinctive offering in areas such as tourism - leisure is one of the stronger real estate sectors – and critical mass in engineering and advanced manufacturing, with 25 per cent of the UK’s aerospace cluster based in Lancashire.

In addition, the county has significant potential in the energy sector and a large reservoir of talent backed by its leading universities.

These assets, together with improving infrastructure and connectivity, point to future growth in the regional economy - and that will drive growth in the real estate market.

Furthermore, Westminster is committed to devolution and to rebalancing the economy, and that means a continued focus on growth in regions such as Lancashire.

The previous administration was probably too focused on growing financial and professional services in our northern cities, but it is now recognised that we need to use devolution to do more by facilitating growth in areas such as energy and advanced manufacturing, which lie outside our major cities - and this will play to Lancashire’s strengths.

It is essential that the public sector and its key stakeholders continue to focus on long-term co-operation and delivery. Devolution will empower local government and lead to more effective public and private co-operation.

This, when combined with new opportunities in the financial technology (fintech) sector and longer term funding solutions such as the local retention of business rates, will create a solid platform for the sustainable economic growth that we need to drive our real estate sector. There has in the past been much criticism of an overt industrial strategy, but the place-based industrial strategy proposed by our current government is better than a piecemeal approach to economic growth, and will again play to Lancashire’s economic strengths. That in turn is good for real estate.

Latest news

1

Bellway to build 183 high quality new homes Royal Bowland Park street scene NEW.jpg.jpg

Bellway to build 183 high quality new homes

29 Oct 2025

2

University of Lancashire recognised for entrepreneurship and supporting business growth - Representatives from the University's Business School, local SMEs and the IOEE

University of Lancashire recognised for entrepreneurship and supporting business growth

29 Oct 2025

3

£8bn Typhoon order is great news for Lancashire BAE Typhoon ECRS Mk2 Radar

£8bn Typhoon order is great news for Lancashire

28 Oct 2025

4

Award-winning Lancashire wedding venue and hotel is sold The Mill at Conder Green

Award-winning Lancashire wedding venue and hotel is sold

28 Oct 2025

5

PM+M announces another 19 promotions across the firm PM+M promotions

PM+M announces another 19 promotions across the firm

27 Oct 2025

Background image for hub sign up block

LBV Hub

Leverage Lancashire Business View platforms

Post your news
Post your events
Post your offers
Build your network
Improve your SEO
Gain coverage in the magazine
Sign-up
Events
November / December 2025 Magazine Launch Event
Holiday Inn Hotel
Networking
28 Oct 2025 - 18 Nov 2025

November / December 2025 Magazine Launch Event

Holiday Inn, Blackpool

16:46 - 16:45

CMI Level 5 Management and Leadership Course
UCLanAerialCampus.jpg.jpg
LBV Hub Seminars
21 Feb 2025 - 21 Feb 2026

CMI Level 5 Management and Leadership Course

Preston Campus, Preston , PR1 2HE

09:00 - 17:00

CMI Level 5 Project Management Course
UCLanAerialCampus.jpg.jpg
LBV Hub Seminars
21 Feb 2025 - 21 Feb 2026

CMI Level 5 Project Management Course

Preston Campus, Preston, PR1 2HE

08:00 - 17:00

Help to grow management course
Help to grow - barriers to growth.png.png
LBV Hub Seminars
26 Sep 2025 - 16 Dec 2025

Help to grow management course

Preston Campus , Preston , PR1 2HE

09:00 - 15:00

Women scaling up Blackpool Fylde and Wyre
LBV Hub Seminars
22 Oct 2025 - 09 Jan 2026

Women scaling up Blackpool Fylde and Wyre

The Small Business Academy, Blackpool, FY4 5JX

09:30 - 15:30

RISE - Lancashire's unique leadership programme for women
thumbnail_Emma Weston Illustration WENDY BOWERS RISE Illustrstion.jpg.jpg
LBV Hub Seminars
22 Oct 2025 - 18 Mar 2026

RISE - Lancashire's unique leadership programme for women

East Lancashire Chamber of Commerce, Clayton le Moors, BB5 5JR

09:30 - 15:30

Chamber Breakfast Networking – November
Lancs-cham-logo.jpg.jpg
LBV Hub Networking
06 Nov 2025 - 06 Nov 2025

Chamber Breakfast Networking – November

Porsche Centre South Lakes, Carnforth, LA6 1FW

08:30 - 10:30

Lancashire Police business update with The Police and Crime Commissioner
Lancs-cham-logo.jpg.jpg
LBV Hub Roundtables
10 Nov 2025 - 10 Nov 2025

Lancashire Police business update with The Police and Crime Commissioner

Lancaster Castle, Lancaster, LA1 1YN

14:00 - 16:00

AI, Creativity, and what it means to be human
2.jpg.jpg
LBV Hub Networking
11 Nov 2025 - 11 Nov 2025

AI, Creativity, and what it means to be human

Society1, Coworking Space, Preston, PR1 3LT

18:00 - 20:00

Beyond the Brand: Building trust through values and integrity
1.png.png
LBV Hub Networking
11 Nov 2025 - 11 Nov 2025

Beyond the Brand: Building trust through values and integrity

Society1, Coworking Space, Preston, PR1 3LT

18:00 - 20:00

The Business Network Central and East Lancashire
LBV Hub Networking
13 Nov 2025 - 13 Nov 2025

The Business Network Central and East Lancashire

Stanley House, Blackburn, BB2 7NP

11:30 - 14:15

The AI Lab: E-commerce
Ai Lab ecommerce (1).png.png
LBV Hub Seminars
14 Nov 2025 - 14 Nov 2025

The AI Lab: E-commerce

Door4 Office, Burnley Wharf, Burnley, BB11 1JG

09:00 - 11:30

Advertise with us

Reaching 50,000 members, our print, digital and event platforms offer a fantastic way to raise your business profile and help you grow.

Find out more LBV124 Online Graphic
Subscribe now

Weekly news bulletin