In 12 months time a large number of new build trains will be in service for all TOCs. Refurbs should also be well advanced, although there's obvious doubt that all programmes will be on schedule - like it's almost certain they won't be. Platform extending should also be well advanced.
Together that should allow more strengthened trains and the introduction of more services requiring more units. By then we'll have more passenger numbers data to see if use is going up or down, and where. Speaking from a formerly Pacer dominated line we've had issues with trains not turning up, so a 150 turning up on time would be brilliant. A 4 car formation would be very welcome on some departures, particularly at weekends. The same applies to many other services.
In the short term it must be cheaper patching up old trains than buying new, except when engines become unreliable, specialised parts aren't available and when corrosion causes damage to vital areas. In 10 years time I predict these units will be being cannibalised to keep the best running. (My experience suggests that many of the inwardly cascaded units have better maintained interiors than those previously operating in the Northern area.)
However, in 5-10 years time all our recently established train building capacity will be needing more work. At this point any government will face a quandary. How can it support the UK rolling stock construction industry? HS2 orders and a few others, but replacing a lot of almost 40 year old electric and diesel units for Northern must be a political gift, justifying having to spend taxes on projects to protect jobs and help the north. It all fits.
The speed of electrification and the development of other propulsion options will keep this subject alive for at least 10 years, and some.