Has Rugby’s economy turned a corner?

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New business set-ups reached a record level during the first six months of the year in Rugby, according to new research.

Company formation rose by 27 per cent during the first half of 2013, with more new company registrations than any other half year on record for the town.

In addition, company closures fell during the six months to June. May also saw a new record for net company growth (the number of company formations minus the number of company closures), when compared to all previous Mays in Rugby. The figures have been sourced from Company House and compiled by financial services firm Duport.

Company name trending data from Duport also give an insight into the town’s links with the haulage industry, with words including transport, Europe, trans, freight all trending highest. The highest trends in the UK include consulting, management, property and engineering.

The latest Job Seeker’s Allowance claimant count figures are less conclusive, with the latest figures (from July 11 2013) putting Rugby’s count at 1,412 people, a rate of 2.2 per cent. This is 46 people less than July 2012, a drop of 0.1 per cent, and a claimant count .1 per cent higher than the Warwickshire average of 2.2. Year on year, the number of male claimants have dropped by 97, in stark contrast to the number of women signing on, which has risen by 51.

The latest figures from the Land Registry show the local housing market stabilising, with house prices gradually increasing. Average property prices in Rugby rose 3.2 per cent between January and March this year, with the average house price now £187,000 compared to the West Midlands average of £130,000. However, since January 2013, Rugby Foodbank has helped over 1350 people (including over 500 children) and has provided well over 19,500 meals to those in crisis.