London is a world leader in innovation

JLL, the multi-national financial and professional services specialist, recently released their latest City Momentum Index (CMI) report. Their research looks at the rate of change in a city’s economy and the commercial property market. The idea is that both of these issues are indications of which cities are well placed to attract investment. The Index covers 120 emerging and established business hubs around the world and looks at 37 different variables.

The latest CMI looks specifically at innovation orientated cities. The top 20 list of cities with the best momentum is dominated by areas that understand the value of innovating and encourage it through construction, infrastructure and technology. All three of these drive businesses forward, helping them to attract talent and develop cutting edge products and services.

London has topped the CMI report for the second year in a row, showing the continued focus on development and innovation in the city. A number of high profile projects have helped London to retain its position including the rise in mixed use developments, the £22 billion Crossrail Project, and development at Imperial West and UCL East university campuses.

Crossrail is a very strong indication of the innovation momentum of London. It is the largest transport project in Europe and will increase connectivity and improve commute times in the capital.

The development of university campuses is another hugely positive sign for the future because education is vital for the future. The scheme at Imperial College includes a £1.5 billion investment to create the first major research quarter in the capital. It is hoped that this will create stronger links with businesses.

London is in a fantastic position where it is investing in both the long and short term simultaneously, making the city very attractive to businesses and investors.

Although the focus of the CMI report is on innovation and the commercial sector, it does have a bearing on the domestic scene too. A strong position and good investments in these areas will have a knock on effect on house prices because homes will be seen as a positive investment and the number of people attracted to the area for education and jobs will rise. Continued developments also reassure investors. As providers of property and block management in Kensington and Chelsea and other London investment hotspots, we will continue to advise investors on making the best possible decisions.