Economy Profile
By 2023 Harborough District’s economy will have established a robust reputation as a dynamic, entrepreneurial and attractive place to do business.
A general assessment of data for the Harborough economy shows that the headline characteristics and performance of Harborough’s economy is largely positive. It’s amongst the highest economic activity rates, lowest unemployment, best skills profile and highest average earnings of the LLEP area.
Source: Economic Development Strategy 2017
● Resident population aged 16-64 is 59.8% in Harborough
● Economically Active 88.7% in Harborough
Qualifications profile in Harborough (2017)
● NVQ4 and above 41.3%
In England the figure was 38.6% of the working age population has an NVQ4 and above.
● NVQ3 and above 65.5%
● NVQ2 and above 84.1%
● NVQ1 and above 92.9%
Earnings by place of residence (2017)
● Gross Weekly Pay (Full time workers) £607.00
● Average Hourly Pay (Full time workers) £15.79
Businesses in Harborough
Latest data shows that between 2011 and 2015 business start-ups rates in Harborough district have grown by 16.3%. An increase from 460 start-ups in 2011 to 535 in 2015. The business survival rates are the second highest in the LLEP area, 67.8% of start-ups surviving after 3 years. This demonstrates a positive and resilient business base for start-up businesses in the district.
Source: Economic Development Strategy & ONS Data
Enterprises in Harborough – 5,340 (2019)
● Micro (0 to 9): 4,820
● Small (10 to 49): 425
● Medium (50 to 249) 80
● Large (250+) 10
Local Units in Harborough – 5,760
● Micro (0 to 9): 5,020
● Small (10 to 49): 600
● Medium (50 to 249): 125
● Large (250+): 15
Source: https://www.nomisweb.co.uk/
Key Employment Space
Market Harborough
- The Point Business Park, Rockingham Road
- Bowden Business Village, Off Leicester Road
- Riverside End Industrial Estate, Riverside
- Compass Point Business Park, Northampton Road
- Airfield Business Park, Leicester Rooad
- Peaker Park, Rockingham Road
Lutterworth
- St John’s Business Park, off Rugby Road
- Bilton Way Industrial Estate, Leicester Road
- Midland Court, off Leicester Road
- Cosford Business Park, off Central Way
Broughton Astley
- Swannington Road/Stainer Road Industrial Estate
Rural Centres
- Nursery Court and Milestone, Kibworth Business Park, south of Harborough Road, Kibworth Harcourt
- Churchill Way Industrial Estate, Fleckney
Population
It is recorded by the Office for National Statistics that Harborough’s population is 92,500. This is forecast to increase to 99,814 in 2031. The bulk of this increase is expected to come from immigration to the District from within the UK
POPULATION BY AGE
| Harborough | Leicester | Leicestershire | LLEP Area | England | |
|---|---|---|---|---|---|
| Total Population | 92,499 | 355,218 | 698,268 | 980,300 | 55,977,178 |
| 0 to 15 (#) | 17,009 | 76,034 | 125,178 | 174,500 | 10,748,458 |
| 16 to 64 (#) | 55,317 | 236,880 | 430,800 | 653,100 | 35,049,467 |
| Over 64 (#) | 20,173 | 42,304 | 142,290 | 152,700 | 10,179,253 |
| 0 to 15 (%) | 18 | 21 | 18 | 18 | 19 |
| 16 to 64 (%) | 60 | 67 | 62 | 67 | 63 |
| Over 64 (%) | 22 | 12 | 20 | 16 | 18 |
Housing
Market Harborough has a far higher proportion of home-owners than the national average.
of Harborough residents own their home
of Harborough rent their home
£451k
Detached average price
£268k
Semi-detached average price
£229k
Terraced average price
£196k
Flat average price
…COMPARED TO THE AVERAGE HOUSE PRICES IN OTHER AREAS OF THE UK
*statistics collected over the last 12 months
£242,079
Leicestershire
£362,811
Hampshire
£501,096
South East London
£691,988
North London