London has long been established as one of the world’s most desirable cities to live and work, and it seems that the demand is only going to increase as more and more people seek to make their home in the capital. According to the latest reports from the Office for National Statistics, nine of Britain’s top ten fastest-growing local populations are in boroughs of London. The most rapid growth is predicted in Tower Hamlets, in East London, where the population is expected to rise by more than 25% by the year 2024.
The other nine fast-growing boroughs on the list are Camden, Islington, Hackney, Barking and Dagenham, Newham, Redbridge, Hillingdon and Kingston. The total number of people living in London is set to increase to more than nine million. This is due to both higher birth rates in the capital and high numbers of people moving here from other parts of the country and the rest of the world. The only non-London location to make the top ten is Corby, Northamptonshire, which is expected to experience population growth of 16.7%.
All regions of England are expected to experience an increased population over the next ten years, but London and South East are projected to grow far faster than the rest of the country as a whole. It is certain that the continuing influx of new people into the capital will have a significant impact on the property market in the capital in terms of sales, purchases and lettings. With an increasing population there will naturally be a need for more housing, bringing new developments and opening up new opportunities for investors and landlords.
Whatever changes take place over the next few years, we will always be on hand to provide the support our clients need to deal with the changes, offering advice, guidance and full property and block management in Enfield, Tower Hamlets and all other London boroughs, including every borough listed as having the highest level of population growth.