London Living 2016 - A borough by borough review
This is CBRE’s second annual Borough by Borough showcase which gives a detailed analysis of each of London’s 33 boroughs. We have outlined the local housing market for each borough and provided an overview of the individual characteristics which differentiate one borough from another. Using a range of metrics, we have focused on the aspects which may be of interest to people considering living or investing in the historic city of London.
London is one of the world’s most vibrant and influential epicentres: large, exciting and cosmopolitan. With a history spanning back 2,000 years, London has continued to blossom. While best known internationally as a leading financial centre, London also has strengths in the arts, commerce, education, entertainment, fashion, healthcare, media, professional services, research and development, and tourism. In addition, its 40 universities form the largest concentration of higher education institutes in Europe, and more than 300 languages are spoken across its diverse range of communities and cultures.
London in stats:
- The current population is 8.83m with an average age of 36.1
- 72.9% of the population is in employment with an average salary of £43,154
- The population is expected to grow by 12% over the next decade
- The average house price is £470,025
- House price growth over the last year was 15%
- Average rent is £2,129 pcm
- Rental growth over the last year was 4%
However, these broad averages mask wide price discrepancies between individual boroughs. In this report we examine these differences.