Hot 100 2018 - Best boroughs for economic performance

 

The economic performance of an area is linked to the housing market with an increase in economic growth generally increasing the demand for housing. As one of the most affluent boroughs in London, Westminster has the highest average salary at £43,203. However, it is Hackney and Newham which are projected to see the highest GDP growth over the next five years. The residents of Lewisham enjoy the highest employment rate at 84% but we expect Tower Hamlets to see the highest projected growth in employee jobs over the next five years.

Table 1: Highest average earnings
Rank Borough Average salary
1 Westminster £43,203
2 Richmond upon Thames £40,787
3 Bromley £40,390
4 Wandsworth £40,123
5 Camden £40,115
6 Hammersmith and Fulham £40,113
7 Islington £37,982
8 Kingston upon Thames £37,865
9 Tower Hamlets £37,603
10 Barnet £37,430

 

Table 2: Highest employment rate
Rank Borough %
1 Lewisham 83.6
2 Merton 80.8
3 Wandsworth 79.9
4 Southwark 79.4
5 Sutton 79.0
6 Harrow 78.9
7 Waltham Forest 78.5
8 Hounslow 78.3
9 Islington 78.0
9= Lambeth 78.0

 

Table 3: Highest forecast GDP growth 2018 to 2022
Rank Borough %
1 Hackney 18
1= Newham 18
3 Haringey 14
3= Islington 14
3= Camden 14
3= City of London 14
7 Hounslow 13
7= Richmond upon Thames 13
7= Westminster 13
10 Barking and Dagenham 12

 

Table 4: Highest forecast employment growth up to 2021
Rank Borough %
1 Tower Hamlets 30.7
2 Newham 24.2
3 Hackney 18.3
4 City of London 11.8
5 Southwark 6.5
6 Islington 6.2
7 Hammersmith and Fulham 5.8
8 Weastminster  4.2
9 Camden 4.0
10 Richmond upon Thames 3.7

 

Tags:
House Prices, Research.