A young professional's guide: Employment in London

Living and working in London appeals to different people for different reasons. For some it’s the lure of the multi-cultural, ever-developing capital city of England and all that it has to offer; while for others it is the prospect of finding the kind of careers that they can enjoy and progress in. 

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How to know where is best to live?

 

Living and working in London appeals to different people for different reasons. For some it’s the lure of the multi-cultural, ever-developing capital city of England and all that it has to offer; while for others it is the prospect of finding the kind of careers that they can enjoy and progress in.

London itself is a huge city and the largest in the UK by some distance. Despite the excellent public transport services available and Crossrail coming in 2018, there are some London boroughs that are better connected than others, meaning that people have some serious considerations to make when it comes to where they live and where they look for work.

It all comes down to personal preferences and, for many, finances. House prices vary across London and both the cost of buying and renting in London have increased significantly in recent years, especially in areas with high levels of regeneration. This raises the query of whether someone would prefer to pay more to buy a property close to work, or have a longer commute with a more affordable property.

 

Where has the highest employability rates?

 

When we look into the best places to live and work in London the statistics revealed in the report make for some interesting reading. The average employment rates are higher in 18 of the 33 London boroughs than the city-wide average of 72.9%*.

Coming out on top was Sutton, which is one of the oldest parts of London. However, while top for employment, Sutton is one of the few London boroughs with no Underground stations meaning that you have two options in terms of finding work – commuting by car or bus, or working in Sutton itself.

It has had the largest growth in private rentals, along with Lambeth, and it is one of the safest London boroughs with crime rates currently at their lowest point in a decade, contributing to it becoming the third safest borough in our report.

Sutton’s low property prices mean that it is currently a popular place for families and young couples looking to buy their first homes or moving into the area – perhaps for work because of the excellent reputation for employment and living in general.

The average salary in Sutton comes in at just over £30,000 per annum and the borough has attracted more than £400 million worth of investment as part of Opportunity Sutton, an initiative launched in 2012 aimed at economic development. This has led to widespread interest from businesses and property developers, along with Transport for London who are currently in negotiations to extend the Tramlink from the north to the south of the borough.

Closely behind Sutton in terms of employment rates were the boroughs of Lambeth and Wandsworth, where employment currently stands at above 80%.

 

According to our report, the boroughs with the best employment rates are:

 

1.Sutton 82.4%

2.Lambeth 81.9%

3.Wandsworth 80.3%

4.Bromley 79%

5.Richmond upon Thames 78.9%

6.Havering 78.3%

=7. Croydon 77.8%           

=7. Merton 77.8%

9. Lewisham 77.4%

10. Hammersmith and Fulham 76.2%

 

If you’re one of the many young professionals moving to London for the very first time in search of work, then our latest research - London Living 2017: a Borough by Borough Review – has everything you need to know about each of the 33 different London boroughs.

*(The overall employment rate for London stands at 72.9% according to the London Living 2017: Borough by Borough review by CBRE Residential).