At the same time, though, house prices in the north of England are not rising and have still not risen back to where they were in 2007. See the contrast between London vs the north in this graphic from The Economist:
As I wrote to a friend about this,
My prediction: look for some head offices and other shops to relocate to the north and out of London. Also look for more telecommuting from the north [our friend who lived on the Wirral did a lot of telecommuting, even back then]. And look for more mid-level and upper-level managers to resist relocations to London unless they are offered enormous relocation packages, which will then spur managers to look for the above solutions.
All together now, "People respond to incentives."