Companies located in the south of England might be wise to attempt to switch to a business property in the north in order to save money.

Richard Horner, northern south sector regional executive at the National Association of Estate Agents, said property in the north is typically cheaper.

This applies both to residential and commercial property, with the expert suggesting the influx of foreign investment in London skews the picture in the south, creating its own "microclimate".

"In the north] the cost of living is cheaper, the cost of renting office accommodation is cheaper and the cost of buying office accommodation is cheaper," Mr Horner stated.

As such, there are good deals to be had in a number of "fantastic cities", which could include Manchester, Leeds and Newcastle.

Zoopla.co.uk recently produced its property Rich List, concluding that the cheapest places to live in the UK are in Liverpool, Hull and Sunderland.

Posted by Suzannah TaylorADNFCR-2842-ID-800585438-ADNFCR