Why London?

The latest Census shows that London’s population has reached a high of 8.8 million people, and that the population has grown by more than 620,000 over the last decade since the 2011 Census. This represents growth of 7.7% over that time which is remarkable by any standard.

What about the future? Recent data and predictions from the Greater London Authority lead us to anticipate further population growth of at least 50,000 a year in London going forward, and potentially as many as 70,000 people a year.

London’s property market recovery is in full swing and predictions for future growth show that the good times are likely to continue indefinitely for London. The Prime Central market is leading the way, with Savills anticipating total growth of at least 8% in London by the end of 2022 and 21.5% by the end of 2025. This is a good time to be a property owner in London, and it could get even better in the future.

London is the centre of the UK’s economy and has the largest population in the UK, as well as one of the largest in Europe.  The city’s economy is vast and generates more than £500bn of value each year with much more growth to come in the future thanks to ongoing infrastructure investment. Growth of 6.9% is expected this year according to figures from GLA Economics, following a strong return to form as the Covid-19 pandemic eased in 2021.

London’s economy is heavily based around modern industries which will keep the city at the top of growth charts far into the future. A great example is London’s technology sector which is by far the biggest in the UK and the size of the total GVA of other large UK cities on its own. The almost-600,000 jobs it supports are a great example of how London is already a city of the future.

It is estimated by Oxford Economics that at 800,000 jobs could be created in London by 2030 to service these industries as the city grows. We can be fairly confident that this is an accurate forecast as data from the Mayor’s Office and the Greater London Assembly show that job growth is already at pre-pandemic levels – making it likely that the number of jobs in London will continue increasing as the economy grows