London living 2017 A borough by borough review CBRE Residential 2–3 London living 2017

Contents

Overview 5 London 6 Barking and Dagenham 10 Barnet 12 Bexley 14 Brent 16 Bromley 18 Camden 20 City of London 22 Croydon 24 Ealing 26 Enfield 28 Greenwich 30 Hackney 32 Hammersmith and Fulham 34 Haringey 36 Harrow 38 Havering 40 Hillingdon 42 Hounslow 44 Islington 46 Kensington and Chelsea 48 Kingston upon Thames 50 Lambeth 52 Lewisham 54 Merton 56 Newham 58 Redbridge 60 Richmond upon Thames 62 Southwark 64 Sutton 66 Tower Hamlets 68 Waltham Forest 70 Wandsworth 72 Westminster 74 CBRE Residential 4–5 London living 2017

Overview

London has a history dating back over 2,000 years; originally established in AD 40 by the Romans as a civilian town, Londinium occupied a relatively small area, roughly equivalent to the size of Hyde Park. It has subsequently grown to an area over 600 square miles.

Over its history it has experienced plague, devastating fire, civil war, aerial bombardment, and terrorist attacks. But despite this London has grown to become one of the most significant financial and cultural capitals of the world. The City of London is London’s historic core and today is the primary financial district. However, it now represents just a tiny part of the wider metropolis of Greater London.

With over 8 million residents, 37% of whom were born overseas, London has a diverse range of peoples and cultures, and more than 300 languages are spoken here. London is well known as a leading financial centre, but it also has strengths in the arts, commerce, education, entertainment, fashion, healthcare, media, professional services, research and development, and tourism. London’s 43 universities form the largest concentration of higher education institutes in Europe. All of this contributes to making London the vibrant and cosmopolitan city that it is and ensures it continues to attract workers from the the rest of the UK and the world over. All of whom need somewhere to live.

London has 33 very distinct boroughs, each with its own individual character, which attract a range of residents. In this, the third annual Borough by Borough report, we provide an overview of these boroughs from a housing market perspective. We look at a range of metrics that are of interest to those living, or thinking of living in the area and offer a brief overview or highlight of the borough.

Jennet Siebrits Head of Residential Research CBRE CBRE Residential 6–7 London living 2017

London 2016 was dominated by the EU referendum. Regardless of the ongoing political The uncertainty this caused fed through to upheaval, London remains an attractive Current population Average salary the housing market. This, coupled with tax place to buy a property. London’s success London is a vibrant, changes for investment buyers, meant a is down to a variety of factors, including: multi-cultural and volatile year for the market and sales in the language, time zone, location, fiscal policy 8,835,400 £48,059 mainstream market remain muted in and a strong business environment. As a cosmopolitan city. It is the first half of 2017. However, the new build result, London has a variety of world Population growth over next decade Employment home to 8.8 million people, market remained comparatively robust, with leading business clusters including finance the level of sales on a par with 2015 and and technology; estimates suggest there % % from a broad range of 58% of all units under construction in 2016 are around 367,000 people employed in 11 72.9 backgrounds. It is ever were sold; well above the long-term financial services, 448,000 in technical and average of under 50%. And, there has been creative industries and a further 270,000 in evolving and reinventing more positive news from the new-build life sciences. itself, reflecting its status as market this year. 5,800 units sold during Q2 2017, which is up 4% on Q1 and up 12% on However, the level of home building is just Average house price Average rent a top global city. the quarterly average of 5,200 in 2016. not keeping up with demand. We estimate London needs an additional 52,000 new According to Molior, the average asking homes to be built each year to keep up with £481,556 £1,727pcm price for new-build stock across London demand, yet we are only building around was £909psf in Q2 2017. This is up 2.9% on half that. 2016 when the average price was £883psf. House price growth Rental growth The Inner London figure is higher at £1,409psf while outer London recorded an average of £659psf.

Last five years Over last year Five year forecast Last five years Five year forecast You should also know: 57 % 4% 21% 7% 20% –– Long term house price growth in London is 9.1% per annum. This is around a third higher than the UK rate of 6.5% per annum.

–– The London economy has expanded at 3.0% per year over the past 30 years compared with 2.2% for the UK.

–– Three of the world’s top ten most visited museums are in London. It also has four world heritage sites, more than any other western European city. House price Average value of Units under Proportion of PRS Growth of the PRS –– London has over 200 theatres, which between them attract 22 million visits to earnings new build (£psf) construction Households (2008–2014) each year. It also has 66 Michelin star restaurants. 10.0 £909 87,6 50 25% 29% –– London is the only city in the world to have hosted the summer Olympic games three times.

658 100% 9,441 40,573 ‘Outstanding’ Share of London Number of restaurants Number of shops primary schools office space and cafés

Underground/ Railway DLR/Tramlink 334 Overground 229 stations 79 stations stations CBRE Residential 8–9 London living 2017 CBRE Residential 10–11 London living 2017

Barking and Large-scale regeneration is completely Overground service will be extended to transforming this outer London borough. Barking Riverside as part of a £70 million Current population Average salary Dagenham For example, Barking Riverside, one of the investment programme into the route. The largest regeneration sites in the UK, will new service will open in 2020, cutting travel create a new waterfront town in East times to the City to just over 20 minutes. 209,000 £25,354 Currently undergoing a London, providing a total of 10,800 new much needed facelift, homes. In addition, there will be a Our research indicates that regeneration Population growth over next decade Employment new school (the largest free school in the can result in a house price growth premium Barking and Dagenham country), 700,000 sq ft of commercial of 4.7% per annum over and above % % is one of our top picks for space and a new train station – the London standard inflation. 15 65.8 first time buyers wishing to get their first step on the housing ladder. It is one of You should also know: Average house price Average rent London’s more affordable boroughs and residents will –– The Elizabeth Line (Crossrail) will dissect the north of the borough with a station at Chadwell Heath. £289,938 £1,19 0 pcm benefit from its regeneration and the potential price –– Barking Town centre has been rejuvenated over the last decade. In addition, plans to redevelop Vicarage Field shopping centre have House price growth Rental growth growth this offers. recently been approved – this will create a state of the art shopping, dining and leisure destination.

–– Barking has the highest expected population growth of 15% over the next decade.

–– Barking Power Station provides over a third of London’s annual energy consumption and has one of the best environmental records for similar buildings in Europe. Last five years Over last year Five year forecast Last five years Five year forecast % % % % % –– The Becontree estate was built in 1921 to reward the families of 73 7 22 27 16 soldiers who had served in the First World War. It was the largest council housing estate in the world at the time.

House price Average value of Units under Proportion of PRS Growth of the PRS to earnings new build (£psf) construction Households (2008–2014) 11.2 £453 2,646 20% 67%

5 0.4% 59 460 ‘Outstanding’ Share of London Number of restaurants Number of shops primary schools office space and cafés

Underground/ Railway DLR/Tramlink Overground stations stations 5 stations 2 0

360 Barking CBRE Residential 12–13 London living 2017

Barnet Barnet is projected to be the most It will provide a new town centre for Barnet populated of all London Boroughs by 2024. and north London. The project also Current population Average salary As such, it has a regeneration and growth includes the redevelopment of Brent Cross Located on the outskirts of programme that is aiming to deliver 27,000 shopping centre, the creation of over northern London and is new homes and approximately 30,000 jobs: 4 million sq ft of new office space, new and 389,600 £34,913 the most of any outer London borough. improved parks totalling 65 acres and new surrounded by rolling schools, healthcare and leisure facilities. It Population growth over next decade Employment countryside. This feeling of The borough also contains one of the will also see the construction of a new largest regeneration projects in Europe at Thameslink mainline station. This is due to % % space combined with Brent Cross Cricklewood. The £4.5 billion open in 2022 and will reduce travel times to 12 72.4 affordable prices and good project covers 800 acres and aims to Kings Cross to just 15 minutes. provide up to 10,000 homes and create underground and national 20,000 jobs. rail connections make Barnet very popular with Average house price Average rent commuters and families. You should also know: £539,046 £1,514 pcm –– Barnet was formed in 1965 from parts of Middlesex and Hertfordshire; it is the largest London borough by population and the fourth largest House price growth Rental growth by area (33 sq mi).

–– It borders Hertfordshire to the north and five other London boroughs: Harrow and Brent to the west, Camden and Haringey to the south-east and Enfield to the east.

–– Barnet was the site of one of the most important battles in the War of the Roses – the Battle of Barnet on 13 April, 1471. Last five years Over last year Five year forecast Last five years Five year forecast –– The oldest tree in London, a yew dating back 2,000 years to Anglo Saxon % % % % % times, can be found in St Andrew’s churchyard in Totteridge. 49 5 24 11 20

House price Average value of Units under Proportion of PRS Growth of the PRS to earnings new build (£psf) construction Households (2008–2014) 15.6 £661 3,703 31% 70%

30 1.3% 435 2,178 ‘Outstanding’ Share of London Number of restaurants Number of shops primary schools office space and cafés

Underground/ Railway DLR/Tramlink Overground stations stations 13 stations 6 0 CBRE Residential 14–15 London living 2017

Bexley Having only been part of Greater London The arrival of the Elizabeth Line has also for the last 50 years, Bexley has remained been the catalyst for the regeneration of Current population Average salary relatively isolated from the rest of the city. Abbey Wood which is receiving £1bn of It is one of only three boroughs that doesn’t investment and will completely transform have an underground station. the area. 244,300 £32,941 As one of the most affordable places to live in However, this is about to change with the Bexley is one of the greenest boroughs in Population growth over next decade Employment Elizabeth Line (Crossrail) station at Abbey London with over 200 parks and open London, Bexley is an Wood, which lies on the border with its spaces. It also has a five mile frontage onto % % attractive option for first neighbouring borough of Greenwich. the River Thames. 9 76.0 time buyers and families. This suburban gem is surrounded by nature, and Average house price Average rent gives its residents the You should also know: opportunity to have one –– Home to Crossness Nature reserve which is, according to Thames Water, £340,207 £1,0 6 4 pcm foot in the city and the home to 155 species of moth, of which 10 are rare or notable. It is one of the other in the countryside. last remaining areas of grazing marsh in Greater London. House price growth Rental growth –– Within the nature reserve is the Grade I listed Crossness Pumping Station – a ‘masterpiece of engineering and a cathedral of ironwork’ – which was key to the development of Joseph Bazalgette’s sanitation revolution in London.

–– It is the most affordable borough to rent in. Average asking rents for two bed apartments are just over £1,000 per month. This is 40% below the average for London overall.

–– Bexley is mentioned in the Domesday Book of 1086, where it is described as Last five years Over last year Five year forecast Last five years Five year forecast a village with 12 ploughs and a mill. 68% 7% 23% 30% 16%

House price Average value of Units under Proportion of PRS Growth of the PRS to earnings new build (£psf) construction Households (2008–2014) 10.1 £348 417 11% 48%

11 0.4% 111 686 ‘Outstanding’ Share of London Number of restaurants Number of shops primary schools office space and cafés

Underground/ Railway DLR/Tramlink Overground stations stations 0 stations 11 0 CBRE Residential 16–17 London living 2017

Brent The number of private renters in London Wembley Park covers a total area of 85 has increased dramatically over the past acres surrounding Wembley Stadium. Current population Average salary decade and there are now around 1.8 When it is complete, which is estimated Home to the iconic million. Although they are dispersed around to be in 2024, it will have delivered 7,000 Wembley Stadium, which the capital, Brent is quickly becoming a new homes, one million sq ft of Grade A 332,100 £30,530 borough of choice for London’s renters. office space, a new primary school and with 90,000 seats, is the Over a third of its households are privately 42 acres of public realm including a new Population growth over next decade Employment largest covered football rented, one of the highest proportions in seven acre park. London. It now accommodates the largest % % stadium in the world. But Build to Rent scheme in the UK, with 9 67.5 there is more to Brent than Quintain delivering 5,000 rental units at Wembley Park. just football; it has excellent transport links, green Average house price Average rent spaces and is now home to You should also know: the largest Build to Rent –– Wembley is one of the UK’s largest regeneration projects accommodating £489,402 £1,76 5 pcm scheme in the UK. 11,500 new homes and 11,000 jobs.

–– The borough also hosts part of the Park Royal opportunity area which will House price growth Rental growth provide 15,000 new homes and create 10,000 jobs.

–– Neasden Temple, the first and largest traditional Hindu Mandir outside India, is made of 2,000 tonnes of Italian marble and 3,000 tonnes of Bulgarian limestone which were carved by Indian craftsmen and shipped to London.

–– Brent borders seven other London boroughs: Harrow to the north-west, Barnet to the north-east, Camden to the east and Ealing, Hammersmith and Fulham, and Kensington and Chelsea to the south, and Westminster Last five years Over last year Five year forecast Last five years Five year forecast to the south-east. 57% 1% 17 % 9% 19%

House price Average value of Units under Proportion of PRS Growth of the PRS to earnings new build (£psf) construction Households (2008–2014) 15.8 £707 3,524 35% 31%

17 1.1% 255 1,459 ‘Outstanding’ Share of London Number of restaurants Number of shops primary schools office space and cafés

Underground/ Railway DLR/Tramlink Overground stations stations 23 stations 2 0 CBRE Residential 18–19 London living 2017

Bromley Located in London’s south east, Bromley is Not only are families attracted by the green the largest borough in the capital covering space, but it also has a relatively high share Current population Average salary 15,000 hectares. While the North is largely of outstanding primary schools. It benefits Bromley is one of the built up and urban, the South consists of a from strong connectivity with 23 train greenest boroughs in large swathe of green belt land; 60% of stations, three London overground stations 327,9 0 0 £41,508 Bromley is designated as greenspace. As a and five Tramlink stops. London and is perhaps result, it is London’s most sparsely Population growth over next decade Employment more akin to Kent. This, populated with only 22 people per hectare. It is a relatively affluent borough, with This compares with the most densely above average earnings and a high % % combined with its great populated borough of Islington, where 160 employment rate. 10 79.0 transport links means people are squeezed into the same area. it is attractive to families and those wanting to settle down. Average house price Average rent You should also know: £444,339 £1,24 3 pcm –– St Mark’s Square, in the south of Bromley Town is one of Bromley’s main developments. It will create a new destination and the mixed-use scheme House price growth Rental growth includes a landscaped public plaza, a new cinema, 25,000 sqft of retail space and 200 homes.

–– The borough has less than 1,000 residential units under construction.

–– The amphitheatre at Church House Gardens has recently been upgraded, and locals can arrange to use it to stage concerts, plays or book readings.

–– Crystal Palace Park, a 200 acre English Heritage Grade II listed facility, is Last five years Over last year Five year forecast Last five years Five year forecast undergoing significant regeneration, as part of a five year action plan 58% 5% 19% 13% 17 % –– Biggin Hill aerodrome, built in the early 1930s, was the main aerodrome for RAF fighter pilots during the Battle of Britain.

House price Average value of Units under Proportion of PRS Growth of the PRS to earnings new build (£psf) construction Households (2008–2014) 10.6 £581 987 14% 37%

23 1.0% 206 1,050 ‘Outstanding’ Share of London Number of restaurants Number of shops primary schools office space and cafés

Underground/ Railway DLR/Tramlink Overground stations stations 3 stations 23 5 CBRE Residential 20–21 London living 2017

Camden Camden is hugely popular with students. Camden will also benefit significantly from But, not just as a place to go out, also as a the opening of the Tottenham Court Road Current population Average salary place to live; 22,000 students live in Elizabeth line (Crossrail) station, currently Known internationally Camden, the highest number in any one scheduled for 2018. The £1 billion for its thriving music scene borough. This is perhaps unsurprising given investment programme at Tottenham Court 242,500 £44,263 that University College London, the UK’s Road is the biggest transport investment and outdoor market, 4th best university, is located here. Camden in the West End for decades. It constitutes Population growth over next decade Employment Camden also sports another has a number of other universities within its the most extensive over-site development borders, including The School of Oriental across the entire Crossrail network and % % side: affluence. With the and African Studies, which has a high share includes 500,000 sq ft of prime retail 9 70.2 fourth highest average house of overseas students. In 2015/16 development. The pinnacle of this approximately 50% of students living in regeneration will be the redevelopment price in London and Camden were from overseas. of Centre Point. This iconic 1960s tower significant regeneration has been restored into 82 new luxury Despite having a high share of students, it apartments. Our research indicates that Average house price Average rent underway, this already is a diverse borough attracting families and the properties surrounding the new strong market is expected to downsizers. Hampstead Manor is being Elizabeth line station will increase in value developed by Mount Anvil with the diversity by 3.8% per annum above wider house £833,581 £2,652 pcm only grow stronger. of the area in mind. price growth.

House price growth Rental growth

You should also know:

–– The redevelopment of Kings Cross, which began in 2008, continues to transform and rejuvenate the area. The regeneration covers 67 acres and will deliver 50 new buildings, 1,900 homes, 3.4 million sqft of office space and 26 acres of public open space. Last five years Over last year Five year forecast Last five years Five year forecast –– Camden is the most creative borough according to CBRE’s creative % % % % % London ranking, with 42,000 people employed in the sector (11% of the 45 -1 16 2 23 borough’s workforce).

–– Euston Station will be the London terminus of the new High Speed Two (HS2) rail line. This is the catalyst for the wide scale regeneration of the station and its surrounding area.

–– Camden has 39 conservation areas which cover half the borough, including several parks such as Regent’s Park, Primrose Hill and Hampstead Heath. House price Average value of Units under Proportion of PRS Growth of the PRS –– The borough is home to London Zoo, the world’s oldest scientific zoo to earnings new build (£psf) construction Households (2008–2014) which opened in 1828. 18.5 £1,384 2,335 32% 0%

21 8.7% 379 1,131 ‘Outstanding’ Share of London Number of restaurants Number of shops primary schools office space and cafés

Underground/ Railway DLR/Tramlink Overground stations stations 25 stations 4 0

Centre Point CBRE Residential 22–23 London living 2017

City of London The City is one of London’s prime business The ability to live close to work is being hubs. It has traditionally accommodated realised as the quality of residential offering Current population Average salary companies across the financial services, now matches the aspiration of City workers. Once dominated by its accounting and insurance sectors, but now As a result, the City is becoming a firm financial core, the City is also attracts numerous creative and tech part London’s prime residential property 8,800 £59,933 companies. It currently hosts 360,000 market. Over the last five years average now opening up as a highly workers, but this is estimated to grow by a prices have increased by 33%, and new Population growth over next decade Employment sought after residential further 50,000 by 2026. build prices are, at £1,750psf, the third highest in London. % % location. The growing desire Once considered only a place of work, the 3 64.6 of city workers to live close City is now more diverse and a desirable On the boundary of the City, Alloy MTD is residential location; almost 1,000 new developing One Crown Place. This mixed to work now being matched homes have been completed since use development is set to deliver a total of by an increase in the 2009 and there are a further 740 currently 246 private apartments, a boutique hotel, under construction. 165,000 sq ft of premium office space, retail Average house price Average rent borough’s high quality units totalling 7,000 sq ft, and a historic residential offerings. Georgian terrace that will be fully restored as part of the scheme. £723,576 £2,764pcm

House price growth Rental growth

You should also know:

–– Administratively, the City forms one of the 33 local authority districts of Greater London; however, the City of London is not actually a London borough.

–– Colloquially known as the Square Mile, the City is 1.12 square miles in area. It is also the smallest district by population with just under 9,000 people Last five years Over last year Five year forecast Last five years Five year forecast living there. 33% 5% 18% 10% 17 % –– St Paul’s Cathedral is the most popular visitor spot in the city.

–– London’s first public drinking fountain was unveiled on 21 April 1859, at the boundary wall of St. Sepulchre’s church, Snow Hill.

House price Average value of Units under Proportion of PRS Growth of the PRS to earnings new build (£psf) construction Households (2008–2014) 13.9 £1,756 625 no data no data

1 20.0% 783 1,888 ‘Outstanding’ Share of London Number of restaurants Number of shops primary schools office space and cafés

Underground/ Railway DLR/Tramlink Overground stations stations 11 stations 5 2

The Stage CBRE Residential 24–25 London living 2017

Croydon Despite being only 20 minutes by train from Boxpark Croydon, a temporary installation central London, Croydon has historically created in conjunction with Croydon Current population Average salary suffered from a poor reputation. However, Council, Schroders and Stanhope, has Previously somewhat as London’s population continues to opened in the Ruskin Square development. maligned and overlooked, expand, and the edges of its epicentre The £3m scheme houses a range of 80 386,500 £31,344 move outwards, areas such as Croydon are independent food & beverage retailers in Croydon is currently being given new life. This is being boosted shipping containers. It has proved a popular Population growth over next decade Employment undergoing a major by a large scale, council-led regeneration of addition to the retail mix and enlivened the the area; £1 billion has been committed to night-time economy. % % face-lift. A cluster of transforming the economy and rejuvenating 10 77.8 residential towers and the town centre. Croydon’s retail offer will transform dramatically once Hammerson & Westfield’s significant council-led Croydon’s favourable transport links and scheme completes. The state-of-the-art regeneration has seen prices extensive retail provision already draws retail led destination will span 1.5 million shoppers from a wide area of south sqft and also provide up to 1,000 new Average house price Average rent in the borough increase by London. But the pool of shoppers will homes and 5,000 additional jobs. 68% over the past five years. increase in line with the proposed future Construction is due to complete in 2021. residential and retail development. £374,276 £1,28 0 pcm

House price growth Rental growth

You should also know:

–– The borough is being transformed through a large scale regeneration programme, which will include eight new hotels, over two million sq ft of Grade A office space and 8,000 new homes.

–– Croydon has had one of the highest rates of house price growth over the past 5 years; 68%. Last five years Over last year Five year forecast Last five years Five year forecast % % % % % –– With 386,500 residents, the borough of Croydon has the second highest 68 6 19 19 18 population in London. It is expected to grow by 10% over the next decade.

–– The Croydon Aerodrome was built in 1915 as London’s first airport, but was replaced by Heathrow in 1959.

House price Average value of Units under Proportion of PRS Growth of the PRS to earnings new build (£psf) construction Households (2008–2014) 11.6 £760 1,987 19% -11%

26 2.1% 285 1,546 ‘Outstanding’ Share of London Number of restaurants Number of shops primary schools office space and cafés

Underground/ Railway DLR/Tramlink Overground stations stations 2 stations 15 25 CBRE Residential 26–27 London living 2017

Ealing Ealing is the Crossrail borough (now called will open in 2019, will remain the largest the Elizabeth line), hosting a total of five Picturehouse cinema outside the West End, Current population Average salary stations from Acton to Southall; the most with eight screens and 1,045 seats. Located in the West of of any borough that the route passes London and cited as the through. The new line has unlocked new Southall in the west of the borough is 351,600 £33,357 development around the stations and other another regeneration hotspot, which birthplace of the Rolling regeneration projects. Berkeley is also leading. Its redevelopment Population growth over next decade Employment Stones, Ealing has the third of Southall Waterside will create a new At Ealing Broadway, Berkeley Homes is community in the area. The scheme will % % highest population of any building 700 new homes at its Dickens Yard deliver 3,500 new homes along with 8 75.3 borough. Substantial development. This began construction in 500,000 sq ft of commercial space, a new 2011 and is due to complete in 2019. The primary school and health centre and regeneration plans, together developer is also rejuvenating the wider extensive parkland and leisure space. The with the development of area which includes new shops and development will be completed in several restaurants, and the redevelopment of the phases spanning the next 25 years. Average house price Average rent Crossrail promises to bolster old Empire Cinema. The new cinema, which the Ealing residential market, as residents £489,106 £1,6 9 4 pcm benefit from shorter trips to work and improved You should also know: House price growth Rental growth neighbourhoods. –– Three universities are located in Ealing: the University of West London, the Met Film School, and London College of Music.

–– Ealing Studios is the world’s oldest film studios still in production, dating back to 1902. The remake of St Trinian’s filmed scenes on location in Ealing and many episodes of Doctor Who were filmed there.

–– Mick Jagger and Keith Richards first met Brian Jones at the Ealing Jazz Last five years Over last year Five year forecast Last five years Five year forecast Club in 1962, and the Brand New Heavies formed in Ealing in 1985. 52% 3% 17 % -1% 19% –– Ealing is home to the biggest Sikh community in London and one of the biggest Polish communities in the capital.

House price Average value of Units under Proportion of PRS Growth of the PRS to earnings new build (£psf) construction Households (2008–2014) 14.6 £809 2,410 35% 55%

17 1.4% 204 1,101 ‘Outstanding’ Share of London Number of restaurants Number of shops primary schools office space and cafés

Underground/ Railway DLR/Tramlink Overground stations stations 19 stations 9 0 CBRE Residential 28–29 London living 2017

Enfield Despite being one of London’s industrial The £6bn transformation will create 10,000 and logistics hubs, Enfield lies within homes and 6,700 jobs. Alongside new Current population Average salary London’s Greenbelt; a third of the borough public open spaces, shops and community An Outer London borough is designated as greenbelt land. It also facilities, the development will also include with a growing population. incorporates the high-growth economic a new railway station which will open in 333,000 £30,826 opportunity area known as the London- 2019 and connect the area directly to Significant regeneration in Stansted-Cambridge Corridor. This is Stratford and Liverpool Street. Population growth over next decade Employment the borough has boosted something the borough is looking to take advantage of with major projects Neighbouring Meridian Water is Edmonton, % % house prices and Enfield including the large-scale regeneration which is also set to receive £30 million 11 70.1 has had the sixth highest at Meridian Water. of direct investment to revitalise the area and deliver 3,000 homes. Other key house price growth over regeneration areas in the borough include the past five years. With Ponders End in the east, and New Crossrail 2 on the horizon, Southgate & Ladderswood in the south. Average house price Average rent Enfield will go from strength to strength. £403,742 £1,310 pcm You should also know: House price growth Rental growth –– Although not bordering the Thames, Enfield includes the longest length of river corridor in London, known as the New River Loop, which covers more than 27 miles.

–– The borough’s Chickenshed theatre has a membership of around 800 people and is home to the largest youth theatre in Europe.

–– The borough offers the second largest expanse of parks and open spaces in London, covering more than 900 hectares. Last five years Over last year Five year forecast Last five years Five year forecast % % % % % –– Enfield is home to three campuses of Middlesex University, one of the most 64 7 23 16 19 popular UK universities for international students.

House price Average value of Units under Proportion of PRS Growth of the PRS to earnings new build (£psf) construction Households (2008–2014) 12.9 £541 494 21% 16%

22 0.6% 134 840 ‘Outstanding’ Share of London Number of restaurants Number of shops primary schools office space and cafés

Underground/ Railway DLR/Tramlink Overground stations stations 10 stations 11 0 CBRE Residential 30–31 London living 2017

Greenwich Transport and regeneration are the main Knight Dragon and is set to transform the stories associated with Greenwich. The area surrounding the O2 arena, which has Current population Average salary north of the borough, fronting the river, has now overtaken Madison Square Gardens in Best known as the place been heavily targeted for regeneration, New York as the busiest entertainment by which the world sets hosting four of London’s opportunity areas. venue in the world. With 15,000 new 280,100 £38,070 Collectively these encompass 3,000 acres homes, the development will bring almost its clock, Greenwich is and are targeting the delivery of over 40,000 30,000 new residents to the peninsula. Population growth over next decade Employment also a popular tourist new homes and 10,000 additional jobs. Our previous research indicates that Greenwich has already benefitted from % % destination. With its regeneration areas can benefit from a several transport infrastructure 10 73.0 historical sites drawing growth premium of 4.7% p.a. over and developments, including extensions of the above standard house price inflation. Docklands Light Railway and Jubilee line over 18 million visitors which have vastly improved the borough’s every year and with several Perhaps the highest profile regeneration is links to the rest of London. It will now also that of Greenwich Peninsula, one of host the new Elizabeth Line (previously Average house price Average rent massive redevelopments Europe’s largest regeneration projects. This Crossrail) with stations at Woolwich and already underway, it looks is being delivered by Chinese developer Abbey Wood opening in 2018. set to attract many new £368,958 £1,528 pcm residents too. House price growth Rental growth You should also know:

–– It has the lowest house price to earnings ratio of all London boroughs.

–– Greenwich was formally granted Royal Borough status on 3rd February 2012, in recognition of hundreds of years association between the borough and the Monarchy.

–– Greenwich is home to the world’s largest tea clipper, the Cutty Sark. Last five years Over last year Five year forecast Last five years Five year forecast % % % % % –– The first golf club in England was set up in Blackheath in 1608. 55 3 21 -8 19

–– At eight miles, Greenwich has the longest embankment along the River Thames.

House price Average value of Units under Proportion of PRS Growth of the PRS to earnings new build (£psf) construction Households (2008–2014) 9.9 £785 5,815 20% 38%

22 0.6% 104 582 ‘Outstanding’ Share of London Number of restaurants Number of shops primary schools office space and cafés

Underground/ Railway DLR/Tramlink Overground stations stations 1 stations 12 4

Callis Yard CBRE Residential 32–33 London living 2017

Hackney Shoreditch in Hackney is one of the most Today, Shoreditch is the heart of Tech City, popular City fringe districts. Shoreditch’s with Silicon Roundabout within its borders. Current population Average salary transformation began in the 1980s when a Tech City has been supported at both a Its transformation from pioneering artistic community moved in. local and national government level since rundown east London This was then complimented by new 2010. The area now hosts 3,200 tech firms 274,300 £33,108 restaurants, cafes, bars and shops that saw per square kilometre, compared with the borough to trendy, up- the opportunity to capitalise on this. The London average of 58. In recent years, the Population growth over next decade Employment and-coming hot spot, has influx of a young creative demographic to tech industry has been a major contributor Shoreditch made the area significantly more of growth. Last year, creative and % % seen its average prices attractive and the young professionals technology companies accounted for 34% 11 72.8 increase by 71% over the started to move in. of office take-up in the City fringe. This compares with only 12% ten years ago. last five years. Despite its regeneration, Hackney has managed to retain its edgy Average house price Average rent and eclectic reputation. This largely reflects You should also know: £550,230 £2,206 pcm the active community –– There are 1,300 listed buildings in Hackney, including the iconic Grade II* Hackney Empire, Tudor Sutton House, and the Grade I House price growth Rental growth involvement, with residents medieval St Augustine’s Tower. keen to protect the intrinsic character of the borough –– The Borough contains 25 conservation areas including Clapton Square, and urban open-spaces including Clapton Common and Clissold Park. that makes it so special. Conservation areas also protect large areas of Georgian and Victorian housing, and areas of industrial heritage.

–– More people in Hackney cycle to work than in any other London borough and it has more green space than any other inner London borough, with Last five years Over last year Five year forecast Last five years Five year forecast 62 parks and open spaces. 71% 3% 24% -4% 22% –– The Gunpowder Plot was uncovered in Hoxton on 26 October 1605, when an anonymous letter arrived at the home of local resident Lord Monteagle, warning him not to attend Parliament.

–– Our forecasts suggest Hackney will have one of the highest rate of house price growth in London over the next five years.

House price Average value of Units under Proportion of PRS Growth of the PRS to earnings new build (£psf) construction Households (2008–2014) 17.0 £1,197 4,012 23% 65%

20 2.0% 144 643 ‘Outstanding’ Share of London Number of restaurants Number of shops primary schools office space and cafés

Underground/ Railway DLR/Tramlink Overground stations stations 13 stations 0 0

Carpenters Wharf CBRE Residential 34–35 London living 2017

Hammersmith Hammersmith & Fulham has always been Specifically, the new 25 acre Imperial a popular residential choice for London, College campus will establish a new life Current population Average salary and Fulham offering a village lifestyle, riverside parks sciences hub at White City. It will include and proximity to all the amenities and shops The Molecular Sciences Research Hub, the in neighbouring Kensington & Chelsea. Michael Uren Biomedical Engineering 185,300 £48,105 This small borough in the Research Hub and the Translation and south west of London, with Regeneration is currently taking place in Innovation Hub (I-HUB). The I-HUB provides Population growth over next decade Employment the north of the borough at White City. 185,000 sq ft of space for companies of all its central location, river This began with the opening of Westfield sizes to work alongside Imperial % % views, and stable local shopping centre in 2008. This is now researchers and turn scientific and 7 76.2 being followed up with the wide-scale technological innovations into new products market is already a firm redevelopment of the entire area. Covering and services. favourite for Londoners. almost 270 acres, White City is receiving £8bn of investment which will bring 6,000 One scheme in particular will make a Building on its reputation, new homes, 2 million sqft of office space significant contribution to the overall Average house price Average rent a number of large and create 10,000 jobs. The current regeneration. This is White City Living by high-quality developments Westfield shopping centre will also undergo Berkeley Homes. It will provide 1,400 new a £1bn extension and new educational homes, eight acres of green space and a £775,770 £ 2,19 3 pcm are underway, ensuring institutions are joining the area, with the range of boutique shops, restaurants, cafes it will continue to have a Royal College of Arts and Imperial College and bars. Other schemes nearing London both establishing new campuses completion, that have made a notable House price growth Rental growth big future. at White City. contribution to the area, include Fulham Riverside (Barratt London) and Queen’s Wharf (Mount Anvil).

You should also know: Last five years Over last year Five year forecast Last five years Five year forecast –– Hammersmith and Fulham is the third smallest borough by size and population. 36% 0% 17 % 4% 21% –– The 1908 Olympics were held at White City after the eruption of Mount Vesuvius caused the event to be relocated from Italy at short notice.

–– The borough’s Westfield shopping centre took 13 million manhours to build and used enough concrete to fill 117 Olympic swimming pools.

House price Average value of Units under Proportion of PRS Growth of the PRS to earnings new build (£psf) construction Households (2008–2014) 16.1 £1,430 3,904 33% 42%

19 2.9% 353 1,586 ‘Outstanding’ Share of London Number of restaurants Number of shops primary schools office space and cafés

Underground/ Railway DLR/Tramlink Overground stations stations 17 stations 0 0

White City Living CBRE Residential 36–37 London living 2017

Haringey Haringey is a borough of varied Along with its expanse of greenspace landscapes. Beautiful wooded high grounds (which covers a quarter of the borough), Current population Average salary around Highgate and Muswell Hill contrast perhaps the best thing about Haringey is its Haringey is a diverse with the low lying area of Tottenham in transport links. It is served by three borough, with the rural, the east, which fronts the River Lea. underground lines (Victoria, Northern and 278,000 £31,873 This diversity is mirrored in its property Piccadilly) and an extensive Overground village feel of Muswell Hill, markets. Prices in prime Muswell Hill are network. As a result, it is outer London’s Population growth over next decade Employment juxtaposed against the more typically in excess of £1 million, whilst best connected borough making it a Tottenham’s are closer to £400,000. popular residential location. % % urban, yet well connected 9 74.7 Tottenham. It benefits from Parts of the borough are set to undergo Haringey had one of the highest rates of considerable regeneration. London’s house price growth last year. Despite this a mix of cultures and largest Opportunity Area, Upper Lea Valley, new build prices remain under £1,000 psf. economic backgrounds, it runs through the east of the borough. At Going forward, our forecasts suggest almost 10,000 acres, the area stretches Haringey will have one of the highest rate Average house price Average rent truly highlights the melting across a further three boroughs and aims to of house price growth in London over the pot that is London. deliver 20,000 new homes. next five years. £557,4 31 £1,4 5 6 pcm

House price growth Rental growth

You should also know:

–– Haringey shares borders with six other London boroughs. Clockwise from the north, they are: Enfield, Waltham Forest, Hackney, Islington, Camden, and Barnet.

–– Haringey had the highest electoral turnout in the 2017 elections, with 75% of registered voters doing so. Last five years Over last year Five year forecast Last five years Five year forecast % % % % % –– Finsbury Park was Britain’s first public park, created by an Act of 63 8 27 10 19 Parliament in 1857.

–– Haringey is home to five ancient woods, including Coldfall Wood, Bluebell Wood and North Wood.

House price Average value of Units under Proportion of PRS Growth of the PRS to earnings new build (£psf) construction Households (2008–2014) 17. 5 £918 773 24% 27%

17 0.5% 236 1,154 ‘Outstanding’ Share of London Number of restaurants Number of shops primary schools office space and cafés

Underground/ Railway DLR/Tramlink Overground stations stations 13 stations 6 0 CBRE Residential 38–39 London living 2017

Harrow Harrow is home to the famous boys school; Numerous studies have shown that Harrow School was founded in 1572 under being near a good primary school can Current population Average salary a Royal Charter granted by Queen Elizabeth increase property prices. The latest such The borough of Harrow lies I and boasts Winston Churchill and study, by the Department for Education in the north western outer Benedict Cumberbatch as part of its alumni. (DfE), shows property prices near the 252,300 £32,913 It is located in a leafy 300-acre estate, best-performing primary schools are ring of London and is one encompassing much of Harrow-on-the-Hill around 8% higher than they otherwise Population growth over next decade Employment of the city’s outermost in the northwest London borough. Just as would be. This adds around £18,600 to spectacular, however, is the high share of the average price of a property. % % boroughs. It is one of the high achieving state schools within the 10 73.5 most ethnically diverse borough. 30 out of the 78 primary schools (38%) have been granted an outstanding areas of London and thus grade by Ofsted. offers a rich cultural diversity. Alongside this Average house price Average rent the borough boasts a strong heritage in the area £471,793 £1,426 pcm surrounding Harrow School and village You should also know: House price growth Rental growth atmospheres in places like –– The Harrow & Wealdstone Opportunity Area is designated in the Pinner and Stanmore. London Plan. –– This comprehensive and coordinated regeneration activity will positively transform the Harrow & Wealdstone Area, delivering at least 2,800 net new homes and 3,000 additional new jobs.

–– One fifth of the borough is composed of parkland and open spaces, Last five years Over last year Five year forecast Last five years Five year forecast creating a green belt equivalent to eight Hyde Parks. 55% 5% 21% 19% 19%

House price Average value of Units under Proportion of PRS Growth of the PRS to earnings new build (£psf) construction Households (2008–2014) 14.2 £625 1,600 25% 40%

30 0.8% 148 802 ‘Outstanding’ Share of London Number of restaurants Number of shops primary schools office space and cafés

Underground/ Railway DLR/Tramlink Overground stations stations 11 stations 2 0 CBRE Residential 40–41 London living 2017

Havering The main focus of the borough is business There are also planned transport growth, which has been supported by improvements with a new rail station at Current population Average salary recent upgrades to the public realm at Beam Park and Elizabeth line stations at Situated on the eastern Upminster and Hornchurch. Romford, Gidea Park and Harold Wood. side of Outer London, 254,300 £35,474 Havering’s main urban area Romford, is Given all this investment and planned Havering is the sort of place also set to undergo significant investment, improvement, it is unsurprising that Population growth over next decade Employment one chooses when looking to with plans for 3,500 new homes and the Havering had one of the highest rates of redevelopment of Romford market now house price growth last year. Despite this, it % % buy a home and raise a progressing. Work is also set to start on a remains one of London’s more affordable 12 78.3 family. With the fourth new £25 million retail and leisure boroughs. It has both the second lowest development in Romford town centre. house price to earnings ratio and average highest house price growth rents, at 10.1 and £1,130 pcm respectively. over the past year, and the opening of three Crossrail Average house price Average rent stations in the borough in 2018, Havering may offer £361,578 £1,13 0 pcm opportunities for savvy investors too. You should also know: House price growth Rental growth –– The name Havering is recorded in the 1086 Domesday Book as the ancient folk name of Haueringas, which means ‘the settlement of the family of a man called Hæfer’.

–– The borough was formerly known as the Royal Liberty of Havering, to which Edward IV granted a charter in 1465.

–– Romford has one of the highest concentrations of bars and nightclubs Last five years Over last year Five year forecast Last five years Five year forecast anywhere in London outside the West End. 64% 9% 22% 23% 16%

House price Average value of Units under Proportion of PRS Growth of the PRS to earnings new build (£psf) construction Households (2008–2014) 10.1 £507 455 14% 64 %

12 0.5% 145 755 ‘Outstanding’ Share of London Number of restaurants Number of shops primary schools office space and cafés

Underground/ Railway DLR/Tramlink Overground stations stations 14 stations 5 0 CBRE Residential 42–43 London living 2017

Hillingdon Hillingdon is one of outer London’s Hillingdon also connects London to the rest commercial hubs. It is home to Stockley of the world with Heathrow Airport within its Current population Average salary Park, the UK’s original campus style boundaries. The airport and surrounding Best known for Heathrow business park, which remains popular area have been further highlighted as an Airport, Hillingdon is with major multinationals. Today it hosts Opportunity Area in the London plan with a 301,000 £32,217 companies including GlaxoSmithKline, target to deliver 9,000 new homes. London’s most westerly IBM, Mitsubishi and Marks & Spencer. Population growth over next decade Employment borough, and while partly The borough will soon be served by the Uxbridge is also set to undergo significant new Elizabeth line (previously Crossrail) % % industrial, it is also has expansion. Uxbridge Business Park, with stations at Heathrow, West Drayton and 11 74.2 plenty of countryside. which is already home to major blue chip Hayes & Harlington opening when the route organisations, is being expanded with a becomes fully operational in 2019. Scattered with thriving further 105,000 sq ft of office space across localities and communities, two new buildings. The redevelopment of RAF Uxbridge will also deliver 1,300 Average house price Average rent it is exceptionally well new homes along with business and connected to central leisure space to create a new community London. in the area. £416,693 £1,2 9 6 pcm

House price growth Rental growth

You should also know:

–– Hillingdon is home to Brunel University.

–– It is the second largest of the London boroughs by area.

–– In October 2008, Hillingdon opened the country’s first playground designed Last five years Over last year Five year forecast Last five years Five year forecast specifically for disabled children. 61% 6% 21% 14% 18% –– In December 2011, Ruislip Lido, which boasts one of London’s few beaches, celebrated its bicentenary. Surrounding the lido is the Ruislip Woods National Nature Reserve, which provided timber for the building of Windsor Castle.

House price Average value of Units under Proportion of PRS Growth of the PRS to earnings new build (£psf) construction Households (2008–2014) 12.8 £524 1,919 28% 87%

20 2.4% 146 927 ‘Outstanding’ Share of London Number of restaurants Number of shops primary schools office space and cafés

Underground/ Railway DLR/Tramlink Overground stations stations 15 stations 4 0 CBRE Residential 44–45 London living 2017

Hounslow Bounded by the Thames to the south, the Starbucks), oil service companies (Tullow London Borough of Hounslow snakes from Oil, Aker) and media companies (Discovery, Current population Average salary Chiswick out to the western edge of the city CBS News). Chiswick Park is also where With strong transport links at Heathrow. Through it, acting as a the television shopping channel QVC to both central London and backbone, is the Great West Road, the A4, broadcasts from 24/7. Head west and there 274,200 £31,340 as well the early junctions of the M4. are further clusters of office space. Osterley Heathrow Airport, the Historically it has therefore been the is home to Sky with its impressive new Sky Population growth over next decade Employment borough is home to several gateway to the Thames Valley and the West Central headquarters building, from where of England. The presence of these key the Sky News channel broadcasts. Nearby, % % well-known multinational roads has enabled the growth of specific in Brentford, the GlasxoSmithKline HQ is a 10 71.5 companies, offering both office clusters along its length. The prominent landmark seen from the M4 international nature of business in the flyover. The borough extends as far as reliable linkages and good borough is testament to the proximity to Feltham, to the south of Heathrow Airport employment opportunities both Central London and Heathrow Airport. and first of the business parks that are more prevalent in the counties to the west of Average house price Average rent for those living and working At the east end of the borough is Chiswick London. A key park here is Bedfont Lakes, in the area. Park, the awarding winning urban business Cisco Systems have a large presence here, park. Numerous business have their UK alongside consumer brands such as Birds £406,095 £1,52 2 pcm headquarters here in sectors including Eye and Lindt & Sprungli. consumer brands (Pokémon, Swarovski, House price growth Rental growth

You should also know:

–– Hounslow Heath was once one of the most dangerous stretches of land in London, famous for highwaymen and robbers including Dick Turpin. Today, it is one of London’s largest nature reserves, home to 132 bird species and several rare insects and plants. Last five years Over last year Five year forecast Last five years Five year forecast % % % % % –– The first English strawberry is said to have been cultivated in Isleworth 52 6 24 15 20 in 1806.

–– There are over 120 languages spoken in Hounslow.

House price Average value of Units under Proportion of PRS Growth of the PRS to earnings new build (£psf) construction Households (2008–2014) 12.9 £797 2,264 28% 60 %

21 2.5% 183 868 ‘Outstanding’ Share of London Number of restaurants Number of shops primary schools office space and cafés

Underground/ Railway DLR/Tramlink Overground stations stations 7 stations 7 0 CBRE Residential 46–47 London living 2017

Islington As one of north London’s most desirable The area has been boosted by is proximity boroughs, Islington attracts high levels of to ‘Tech City’ or Silicon Roundabout, Current population Average salary residential investment. Islington has a which is a technology cluster around This vibrant borough has diverse community and benefits from a Old Street roundabout. There are around long been popular with vibrant nightlife with an array of bars, 5,000 companies located in Tech City, 231,200 £47,9 6 8 exceptional restaurants and cafes which comprise a wide variety of start-ups, students, families and throughout. Although it has a traditional web and technology businesses. This Population growth over next decade Employment young professionals alike, village feel, Islington is located just has helped to boost the number and moments away from the City. The borough attractiveness of new residential % % attracted in part by the has 13 stations, and the ease of a developments in the area. There are 9 72.0 area’s traditional housing commute will be further enhanced with currently 2,350 units under construction Crossrail coming to the area in 2018. in Islington, including the Fosters and stock. Since the creation of Partners designed 250 City Road. Tech City in the south east of the borough, it is now also Average house price Average rent a popular choice for IT and creative professionals. £645,283 £2,109 pcm You should also know: House price growth Rental growth –– Islington was formed in 1965 by merging the former metropolitan boroughs of Islington and Finsbury, but the merged entity remains the second smallest borough in London and the third smallest district in England.

–– The King’s Head Theatre and Pub in Islington is the first pub theatre founded in England. It has been in existence since the days of Shakespeare.

–– Islington has the fourth highest new build values in London. Last five years Over last year Five year forecast Last five years Five year forecast % % % % % –– The private rental sector in Islington has one of the fastest growth 42 0 18 -1 23 rates in London.

House price Average value of Units under Proportion of PRS Growth of the PRS to earnings new build (£psf) construction Households (2008–2014) 13.4 £1,433 2,347 25% 84%

13 5.6% 300 1,082 ‘Outstanding’ Share of London Number of restaurants Number of shops primary schools office space and cafés

Underground/ Railway DLR/Tramlink Overground stations stations 13 stations 3 0

250 City Road CBRE Residential 48–49 London living 2017

Kensington and Kensington and Chelsea, is an affluent Several estates in the borough are borough, well known as London’s undergoing regeneration, including the Current population Average salary Chelsea traditional prime location. It has the highest Silchester Estate, which is being completed level of earnings and the highest house in conjunction with the Housing Association prices. Many of the new developments Peabody. Catalyst Housing is also 159,000 £73,959 Despite being the smallest within the borough are high-end luxury delivering 1,000 homes as part of its London borough, occupying developments, the average price in the Portobello Square project at the Wornington Population growth over next decade Employment borough is £1,500,000; prices in some Green Estate in the north of the borough. less than 1% of the city’s total developments have asking prices as % % area, Kensington and high as £30,000,000. However, there are Other future developments for Kensington 5 64.5 certain pockets in the borough which and Chelsea may include Crossrail 2. The Chelsea often grabs the have been overlooked and the council is council is largely supportive of proposals headlines with news of its now focussing investment on regenerating for a station at the King’s Road in Chelsea, these areas. This investment includes the and continues to work with its residents and exclusive residents and strategic site at Kensal Gasworks which Transport for London to get the best result Average house price Average rent multimillion pound could provide up to 5,000 homes. for the borough. mansions. £1,405,521 £3,464 pcm

House price growth Rental growth

You should also know:

–– The borough has the highest life expectancy for both men and women in London – 83.1 years and 87.2 years respectively.

–– The borough is home to around 4,000 listed buildings, including the Natural History Museum, and the V&A museum. Last five years Over last year Five year forecast Last five years Five year forecast % % % % % –– It has the second lowest level of new builds currently under construction. 36 9 17 -2 19

–– Kensington and Chelsea had the highest rate of house price growth last year.

House price Average value of Units under Proportion of PRS Growth of the PRS to earnings new build (£psf) construction Households (2008–2014) 19.2 £1,894 343 33% 8%

18 1.8% 437 1,805 ‘Outstanding’ Share of London Number of restaurants Number of shops primary schools office space and cafés

Underground/ Railway DLR/Tramlink Overground stations stations 12 stations 0 0 CBRE Residential 50–51 London living 2017

Kingston upon Kingston-upon-Thames is an affluent Kingston’s town centre is also witnessing medieval town. Its short commute to three substantial renovations. The character Current population Average salary Thames London and its excellent motorway filled Ancient Market Place renovation has network means it attracts professionals with recently completed, and maintains its young families. Its unrivalled connectivity market feel. Eden Walk is undergoing a 175,400 £38,370 Bordering Richmond and across the south west of London means £400m regeneration by British Land and unsurprisingly as the name Kingston dominates the retailing world in pension fund managers USS. While the Population growth over next decade Employment this part of London. It attracts shoppers main attraction to the area, The Bentall suggests, on the bank of the from a range of destinations including Centre, will experience a renovation over % % river, Kingston upon Epsom and Richmond. With a shopping the next 18 months providing a three storey 11 71.6 population of almost 500,000, it ranks 14th H&M, a cinema and four new restaurants. Thames is like a little out of the 200 PMA’s retail centres. The Bentall Centre has also seen an influx English village, fully Kingston is also ranked 12th in terms of of new entrants such as ‘& Other Stories’ consumer spend, highlighting Kingston’s and quirky stationers Typo opening only equipped with an ancient retail importance across an area with a their second UK Store. Average house price Average rent market under Royal high population density. Charter. While light years £509,038 £1,4 6 8 pcm removed in style, it is just 12 miles from central London You should also know: and only 25 minutes by House price growth Rental growth train to Waterloo Station. –– It is the oldest of the four Royal Boroughs in England. –– The oldest surviving bridge in London is the Clattern Bridge at Kingston, dating back to the 12th century.

–– The Korean population in New Malden is estimated to be the largest in Europe. Last five years Over last year Five year forecast Last five years Five year forecast –– London Borough of Kingston upon Thames has a very low housing supply % % % % % pipeline, with less than 500 units currently under construction. 58 4 18 8 16

–– Kingston borough has the fastest upload speed (of 4.6 mbps)

House price Average value of Units under Proportion of PRS Growth of the PRS to earnings new build (£psf) construction Households (2008–2014) 12.8 £756 486 22% 55%

17 1.0% 162 736 ‘Outstanding’ Share of London Number of restaurants Number of shops primary schools office space and cafés

Underground/ Railway DLR/Tramlink Overground stations stations 0 stations 9 0 CBRE Residential 52–53 London living 2017

Lambeth Lambeth’s already rich cultural offering was and 25,000 jobs with Vauxhall responsible further enhanced in 2015, with the £80 for 3,500 and 8,000 of these respectively. Current population Average salary million refurbishment of the National This regeneration also includes upgrading Home to the National Theatre. In addition, major works are the Vauxhall transport interchange and Theatre and the London now underway at the Southbank Centre extending the Northern line to provide a 328,900 £32,779 which will see several buildings undergo new station at Nine Elms. Eye, Lambeth includes the improvement works totalling a further Population growth over next decade Employment popular residential £25 million. Waterloo Station will also undergo an £800m redevelopment, and 1,900 new % % neighbourhoods of Lambeth incorporates the Vauxhall segment homes are planned for the surrounding 7 81.9 Clapham, Brixton and of the Vauxhall, Nine Elms and Battersea area. Further investment is concentrated in (VNEB) regeneration area. The total Brixton and the areas of Clapham, Streatham. Part of the regeneration will deliver 18,000 new homes Streatham and West Norwood. borough is benefitting from the Vauxhall, Nine Elms Average house price Average rent and Battersea (VNEB) regeneration with tower You should also know: £529,546 £2,027pcm clusters developing on the –– Along with Sutton, Lambeth had the largest growth in its private rental river frontage. sector of all London boroughs. House price growth Rental growth –– Lambeth has the second highest rate of employment across London.

–– The Ritzy Cinema, Brixton, built in 1911 was one of England’s first purpose built cinemas.

–– Built as part of the Festival of Britain in 1951, the Royal Festival Hall became a Grade I listed building in 1988; the first post-war building to do so. Last five years Over last year Five year forecast Last five years Five year forecast 59% 2% 18% -3% 22%

House price Average value of Units under Proportion of PRS Growth of the PRS to earnings new build (£psf) construction Households (2008–2014) 15.7 £1,296 3,400 34% 104%

26 2.2% 325 1,165 ‘Outstanding’ Share of London Number of restaurants Number of shops primary schools office space and cafés

Underground/ Railway DLR/Tramlink Overground stations stations 9 stations 12 0

Southbank Place CBRE Residential 54–55 London living 2017

Lewisham Lewisham benefits from its proximity to Several projects are underway in Deptford Canary Wharf, one of London’s main and New Cross that will provide a Current population Average salary employment centres, which is just significant number of new homes and jobs, Historically undervalued 20 minutes by Docklands Light Railway. It along with major improvements to the despite its close proximity to also has strong transport links to the and local infrastructure and environment. In 303,400 £33,405 City and West End. However, despite this, Lewisham’s town centre, Lewisham Canary Wharf, things are and having one of the highest rates of Gateway is the single largest development Population growth over next decade Employment looking up for Lewisham. house price growth over the past five years, and on completion will include a range of it remains relatively affordable with average new shops, restaurants, bars and cafes, % % House prices in the borough house prices of just over £400,000. leisure facilities, a new town square and 11 77.4 have risen by 71% over the up to 800 homes. Much of the borough’s future growth will last five years, the fourth be focussed on the regeneration areas of highest in London. Despite Deptford, New Cross and the town centres this new build prices of Lewisham and Catford. Average house price Average rent remains reasonable at £411,719 £1,410 pcm under £700 psf. You should also know:

–– The Prime Meridian (the line where longitude is defined to be 0°) passes House price growth Rental growth through Lewisham.

–– Lewisham is home to Europe’s largest police station.

–– Lewisham contains the Horniman Museum in Forest Hill. Opened in 1901 and built in the style of the Arts and Craft movement, it is a collection of anthropology, natural history and musical instruments as well as the large display of taxidermy for which it is most famous. Last five years Over last year Five year forecast Last five years Five year forecast –– Blackheath, Goldsmiths, University of London and Millwall F.C. are located % % % % % within the borough. 71 3 20 14 19

House price Average value of Units under Proportion of PRS Growth of the PRS to earnings new build (£psf) construction Households (2008–2014) 12.3 £691 2,365 24% 12%

26 0.4% 163 997 ‘Outstanding’ Share of London Number of restaurants Number of shops primary schools office space and cafés

Underground/ Railway DLR/Tramlink Overground stations stations 5 stations 15 2 CBRE Residential 56–57 London living 2017

Merton Merton is one of London’s typical suburban Merton is due to benefit from plans to boroughs having developed largely in the extend the tramlink network between South Current population Average salary 1930s with the arrival of Underground and Wimbledon, Morden and Sutton and Every year Merton plays Overground rail routes. It is also one of Crossrail 2 will be a catalyst for growth. A host to Wimbledon Tennis London’s greenest boroughs and home to major interchange for the line is planned at 208,100 £50,042 large swaths of greenspace which includes Wimbledon which will help boost the town Tournament, attracting Wimbledon Common. centre as an outer London office location. Population growth over next decade Employment over 500,000 people and It’s also has one of the lowest house price Morden is the main focus for housing % % putting an otherwise quiet to earnings ratio in London at 10.4. development in Merton. The area hosts one 10 77.8 residential borough on the However, this is due to its relatively affluent of London’s housing zones and will receive population rather than low house prices; the £42 million of investment to deliver 1,100 international map. average salary in Merton is £50,000. homes and a new commercial offer. However, with a strong Although it is considerably more affordable than neighbouring Wandsworth, which has Average house price Average rent supply and demand a similar average salary but average house imbalance looming in the prices that are £80,000 higher. £513,132 £1,6 23 pcm boroughs near future, this Outer London borough may well be the site of big You should also know: House price growth Rental growth opportunities. –– It has the fewest number of homes in the pipeline, with under 300 currently being constructed.

–– Merton is famous for being the one-time residence of Lord Horatio Nelson.

–– In 1798, Prime Minister William Pitt fought a duel against the MP for Southwark on Wimbledon Common. Last five years Over last year Five year forecast Last five years Five year forecast 61% 2% 20% -13% 19%

House price Average value of Units under Proportion of PRS Growth of the PRS to earnings new build (£psf) construction Households (2008–2014) 10.1 £908 276 29% 67%

12 0.8% 91 497 ‘Outstanding’ Share of London Number of restaurants Number of shops primary schools office space and cafés

Underground/ Railway DLR/Tramlink Overground stations stations 5 stations 11 9 CBRE Residential 58–59 London living 2017

Newham The summer Olympics in 2012 placed the public such as the Aquatics Centre. Stratford firmly on the residential map. At the new innovation hub ‘Here East’, Current population Average salary As a result of the games, Stratford has new companies in the arts, education and Traditionally a relatively been transformed from derelict backwater tech industries are moving in, including deprived borough, Newham into a top residential and leisure location. UCL East who is setting up a new Life 342,900 £26,433 2,800 homes were initially delivered through Sciences research centre at the heart of has the lowest average the conversion of Athletes’ Village, now the Olympic Park. Population growth over next decade Employment salary and one of the lowest known as East Village. This development, along with other schemes spread across Westfield Stratford City, one of the largest % % house prices in London. the Queen Elizabeth Olympic Park will urban shopping centres in Europe, also 12 68.7 Within Newham, Stratford bring some 11,000 new homes in total makes Stratford a major retail and leisure to the area. location. And as if to cement its evolution, has hugely benefited from Stratford was re-zoned on London’s Olympics related As part of this transformation, Olympic tube map, bringing it into Zone 2, and stadiums and arenas have been recycled thereby more closely associated with Average house price Average rent regeneration and its legacy. to provide world class sporting facilities for central London. Key is to leverage off this success and replicate the £346,715 £1,5 8 4 pcm regeneration across the whole of the borough. You should also know: House price growth Rental growth –– Newham has one of the highest ethnic minority populations of all the districts in the country, with no particular ethnic group dominating.

–– Our forecasts suggest Newham will have one of the highest rates of house price growth in London over the next five years.

–– The borough’s motto, from its Coat of Arms, is ‘Progress with the People.’ The Coat of Arms was derived from that of the County Borough of West Last five years Over last year Five year forecast Last five years Five year forecast Ham, while the motto is a translation of the County Borough of East Ham’s % % % % % Latin ‘Progressio cum Populo’. 63 7 27 -23 21

–– Newham will have five Elizabeth Line (Crossrail) stations

–– Newham has the only airport in inner London. City airport is three miles from Canary Wharf and six miles from the City of London.

House price Average value of Units under Proportion of PRS Growth of the PRS to earnings new build (£psf) construction Households (2008–2014) 13.6 £661 7,518 42% 63%

27 0.8% 169 1,599 ‘Outstanding’ Share of London Number of restaurants Number of shops primary schools office space and cafés

Underground/ Railway DLR/Tramlink Overground stations stations 9 stations 5 14 CBRE Residential 60–61 London living 2017

Redbridge Redbridge is home to a young and As a result population growth in the south well-educated population, and at 50% it of Redbridge is expected to be particularly Current population Average salary boasts the highest proportion of millennials rapid. As such, the council has set out a Known for its swathes of in London. plan to maximise the benefits of the green space with award Elizabeth line through development and 304,200 £35,185 The borough is also forecast to experience regeneration across the new corridor it has winning parks and one of the highest rates of population created. Several other key areas across the Population growth over next decade Employment playgrounds, affordable growth over the next decade, which will be borough have also been earmarked for boosted by the arrival of the Elizabeth line investment including Gants Hill, Barkingside % % house prices, 79 primary (Crossrail). There will be four stations for and South Woodford. 13 71.6 schools and 13 libraries, the new line across the south of the borough at Ilford, Seven Kings, Goodmayes Redbridge is tailor-made for and Chadwell Heath. families with young children. Average house price Average rent You should also know: £404,860 £1,311 pcm –– The name ‘Redbridge’ is from a red brick bridge across the River Roding. The borough was named after this former landmark when it was created in House price growth Rental growth 1965 from the municipal boroughs of Ilford and Wanstead and Woodford.

–– The Roding Valley Way is a designated cycle and walking route between Woodford and Ilford.

–– Redbridge has 14 conservation areas, parks and woodland areas.

–– Millennials make up around 50% of the population of Redbrigde. Last five years Over last year Five year forecast Last five years Five year forecast 51% 6% 20% -2% 19%

House price Average value of Units under Proportion of PRS Growth of the PRS to earnings new build (£psf) construction Households (2008–2014) 11. 5 £470 846 24% 38%

25 0.6% 146 873 ‘Outstanding’ Share of London Number of restaurants Number of shops primary schools office space and cafés

Underground/ Railway DLR/Tramlink Overground stations stations 11 stations 4 0 CBRE Residential 62–63 London living 2017

Richmond upon Located in London’s south-west extremity, Regeneration in Richmond is mainly Richmond, offering a picturesque riverside focused on Twickenham town centre, with Current population Average salary Thames and country lifestyle, has long been a key sites including Twickenham Station and London favourite. It is well known for the former Royal Mail Sorting Office. The Richmond Park: London’s largest Royal redevelopment of the Sorting Office, which 197,30 0 £53,106 An affluent, mature, Park at over 2,000 acres and which was undertaken by Berkeley Homes, was beautiful borough in accommodates 630 Red and Fallow deer completed in early 2017 and comprises 28 Population growth over next decade Employment that have roamed freely since 1529. It is town houses and 82 apartments. It also London’s far south west, also well connected, being approximately encompasses two restaurants, a public % % Richmond offers its 30 minutes from Waterloo and Oxford piazza and a new cultural venue open to 9 78.9 Circus by train. These are some of the residents and the public. residents the best of both factors that have contributed to it being worlds: good proximity to rated as London’s happiest borough in a recent survey. central London and a Average house price Average rent village lifestyle. £673,135 £1,767 pcm You should also know:

–– Richmond Park is the Largest of all London’s royal parks and is three times House price growth Rental growth the size of New York’s Central Park.

–– The Royal Botanic Gardens, otherwise known as Kew Gardens, is located in Richmond and is London’s largest UNESCO World Heritage site. It is more than 250 years old and home to 30,000 living plant species. The centrepiece of Kew’s Palm House is an enormous Jurassic cyad – the world’s oldest pot plant.

–– Richmond has the fastest download speed (of 50.8 mbps) of any Last five years Over last year Five year forecast Last five years Five year forecast London borough. 47% 2% 21% 2% 20% –– Richmond is the only borough to be situated on both the north and south of the River Thames.

House price Average value of Units under Proportion of PRS Growth of the PRS to earnings new build (£psf) construction Households (2008–2014) 12.5 £902 475 22% 58%

25 1.0% 221 979 ‘Outstanding’ Share of London Number of restaurants Number of shops primary schools office space and cafés

Underground/ Railway DLR/Tramlink Overground stations stations 2 stations 13 0 CBRE Residential 64–65 London living 2017

Southwark Southwark, like neighbouring Lambeth, is change. The borough also continues to a diverse borough with plenty to offer its undergo significant regeneration and areas Current population Average salary residents. It has a rich cultural offering including the Southbank, Elephant & Castle Traditionally undervalued with Borough Market, Bankside and the and Canada Water all continue to undergo given its relatively central Tate Modern all within its borders. There is significant transformations. 314,300 £36,001 also the business cluster around London location, this borough Bridge, which includes the Shard and The borough could also benefit from an Population growth over next decade Employment continues to undergo accommodates a range of companies extension to the Bakerloo line. If the plans including Al Jazeera Media Network, Duff go forward, the line will be extended % % significant regeneration & Phelps and Mathys & Squire. acrossthe borough and will incorporate 10 74.6 from the facelift at Surrey two new stations along the Old Kent Road. Southwark also includes a range of vibrant The road itself is already identified as an Quays and Canada Water neighbourhoods including Dulwich, Opportunity Area in the London plan, to the regeneration of the Peckham, Camberwell and Bermondsey, which spans 700 acres and targets the Southbank, which is some of which are undergoing rapid delivery of 20,000 new homes. Average house price Average rent recreating the borough’s image. £527,828 £1,73 6 pcm You should also know: House price growth Rental growth –– Southwark has, at 31, the largest number of outstanding primary schools.

–– Southwark has a long tradition as a centre of entertainment and in 1599 Shakespeare’s Globe Theatre was built in the Bankside area. Although the original theatre burnt down in 1613, a modern replica has been built near the original site.

–– London’s first crossing over the River Thames stretched from Southwark, the poorer side of the river, to the more prosperous City on the north bank. Last five years Over last year Five year forecast Last five years Five year forecast 56% 1% 20% 6% 23%

House price Average value of Units under Proportion of PRS Growth of the PRS to earnings new build (£psf) construction Households (2008–2014) 14.3 £1,036 5,358 26% 38%

31 4.8% 228 1,051 ‘Outstanding’ Share of London Number of restaurants Number of shops primary schools office space and cafés

Underground/ Railway DLR/Tramlink Overground stations stations 9 stations 11 0 CBRE Residential 66–67 London living 2017

Sutton Once made up of rural villages and borough. Sutton Town Centre is also being associated with feudal and royal estates, redeveloped with the masterplan outlining Current population Average salary Sutton is a picturesque borough in the the provision of 5,000 homes, an enhanced Recently described as the south of London. It now constitutes several cultural and dining offer and an improved most ‘normal place in conservation areas to preserve its history employment location. 202,600 £30,700 and its neighbourhoods like Carshalton, Britain’, 91% of its residents Cheam and Belmont typify village life. The main infrastructure development Population growth over next decade Employment say it is a great place to will be the extension of the Tramlink, The borough is also benefitting from which would run from the north to the % % live. With current low Opportunity Sutton, the investment south of the borough and could unlock 11 82.4 property prices, it provides programme launched in 2012 to provide significant growth potential. Sutton a focus for economic development in the together with Transport for London is good entry level housing borough. To date it has attracted over currently undertaking feasibility works for for families. £400 million worth of investment which has the proposals. attracted a range of businesses to the Average house price Average rent £379,870 £1,174 pcm You should also know: House price growth Rental growth –– Sutton is the third safest borough in London and crime is lower than it has been for a decade.

–– Sutton has the highest employment rate of all London boroughs.

–– Along with Lambeth, Sutton had the largest growth in its private rental sector.

–– Sutton is one of the few London boroughs not to have a London Last five years Over last year Five year forecast Last five years Five year forecast Underground station within its boundaries. 59% 5% 21% 19% 18% –– Sutton is recorded in the 1086 Domesday Book as Sudtone, which in Old English means ‘The south farm’.

House price Average value of Units under Proportion of PRS Growth of the PRS to earnings new build (£psf) construction Households (2008–2014) 12.1 £540 664 21% 104%

18 0.5% 118 596 ‘Outstanding’ Share of London Number of restaurants Number of shops primary schools office space and cafés

Underground/ Railway DLR/Tramlink Overground stations stations 0 stations 10 1 CBRE Residential 68–69 London living 2017

Tower Hamlets Tower Hamlets is a diverse borough The traditional financial district of Canary incorporating a variety of different Wharf is also diversifying. Owners, Canary Current population Average salary neighbourhoods ranging from the financial Wharf Group, is now focussing on This is a borough of many hub of Canary Wharf, the city fringe districts residential development in neighbouring contrasts, with severely of Wapping and Aldgate and the Wood Wharf to the east. Work has now 304,000 £39,571 increasingly in-demand district of Poplar. started on the mixed-use regeneration deprived neighbourhoods which will include 3,600 new homes, Population growth over next decade Employment cheek and jowl with more Tower Hamlets is constantly evolving and 350,000 sq m of commercial space, retail the majority of the borough is targeted for and leisure uses and new parks and % % wealthy gentrified locations. regeneration with several of London’s squares. The aim is to attract creative and 14 65.3 Tower Hamlets has the Opportunity Areas incorporated within its technology businesses to the area. boundaries. Whitechapel is one of the key highest level of residential regeneration areas with development London Dock will be a game changer for development activity across being unlocked due to the arrival of the Wapping. It will create a new destination Elizabeth line (Crossrail). A new masterplan with 7.5 acres of open space including Average house price Average rent London and is home to anticipates £1 billion worth of investment bars, restaurants and boutique shopping, Canary Wharf, one of to deliver 3,500 new homes and 5,000 all centered around Gauging Square new jobs. with a spectacular water feature inspired £473,439 £ 2,110 pcm London’s most popular by Le Miroir d’eau in Bordeaux. In addition, office markets. with approximately 1,800 homes being built, it will add around 30% to the local House price growth Rental growth housing stock.

You should also know:

–– Located in Tower Hamlets, Brick Lane’s restaurants, neighbouring street Last five years Over last year Five year forecast Last five years Five year forecast market and shops provide the largest range of Bengali cuisine, woodwork, % % % % % carpets and clothes in Europe. 68 -1 26 -8 23

–– Tower Hamlets has the second largest share of students living in the borough.

–– It has the largest number of homes in the planning pipeline.

–– Our forecasts suggest Tower Hamlets will have one of the highest rate of house price growth in London over the next five years. House price Average value of Units under Proportion of PRS Growth of the PRS to earnings new build (£psf) construction Households (2008–2014) 11. 5 £1,021 13,607 32% 84%

26 9.4% 235 1,048 ‘Outstanding’ Share of London Number of restaurants Number of shops primary schools office space and cafés

Underground/ Railway DLR/Tramlink Overground stations stations 14 stations 1 17

One Park Drive CBRE Residential 70–71 London living 2017

Waltham Forest The borough is aiming to deliver a The borough is also investing in transport significant number of new homes in the infrastructure and is part of the innovative Current population Average salary coming years. Specifically, the area in the ‘Mini Holland’ programme. This is being Bordering Hackney and south of the borough at Blackhorse Lane is funded by Transport for London and aims to Newham and only 20 earmarked for substantial investment. It will transform the borough’s streets to make 276,200 £29,803 retain its original industrial character within them fit for pedestrians, cyclists and minutes from Oxford Street, a new mixed-use development. The area motorists alike. Population growth over next decade Employment Waltham Forest has has capacity to deliver 2,600 new homes and 1,000 new jobs by 2025. Waltham Forest has one of the highest % % experienced the highest rates of house price growth last year and 11 75.6 average house price growth Lea Bridge and Leyton, located to the north the strongest growth over the past five of the Olympic Park, are also key years. This reflects strong demand for in London over the past development areas in Waltham Forest. The housing in the area. In addition, the size of five years. borough aims to deliver 4,000 new homes the private rented sector has doubled over and 300,000 sq m of business space. the last five years. Average house price Average rent £416,925 £1,3 4 6 pcm

You should also know: House price growth Rental growth

–– Waltham Forest was one of the six London boroughs that hosted the 2012 Summer Olympics.

–– It had the strongest house price growth over the past five years.

–– The first powered flight by a wholly British built and designed aircraft (the Roe I Triplane) took place at Walthamstow Marches in 1909. The pilot and designer, AV Roe, would go on to found the AVRO aircraft company. Last five years Over last year Five year forecast Last five years Five year forecast 79% 7% 17 % 16% 17 %

House price Average value of Units under Proportion of PRS Growth of the PRS to earnings new build (£psf) construction Households (2008–2014) 14.6 £548 1,370 30% 99%

11 0.3% 165 1,016 ‘Outstanding’ Share of London Number of restaurants Number of shops primary schools office space and cafés

Underground/ Railway DLR/Tramlink Overground stations stations 12 stations 0 0 CBRE Residential 72–73 London living 2017

Wandsworth Wandsworth is one of the largest inner The regeneration of VNEB continues at a London boroughs and is also one of its fast pace, and the first pioneer residents Current population Average salary most prosperous. It hosts many traditional have now moved into newly completed The greenest borough in residential neighbourhoods, most of which residential developments. The confirmation London, Wandsworth is one are preserved by the boroughs 45 that a major US tech firm is relocating its 321,000 £52,152 conservation areas. headquarters to Battersea Power Station of three boroughs included has further boosted the areas profile. Population growth over next decade Employment in the VNEB regeneration However, certain areas are also undergoing Other high profile developments in the significant regeneration. The main one of pipeline include One Nine Elms and Nine % % along the Southbank which these is VNEB but there is also a focus on Elms Point. 7 80.3 will create 18,000 new Wandsworth town centre and Clapham Junction. In addition, the recent emergence The borough will also benefit from the homes and 22,000 new jobs. of neighbourhoods like Tooting and Balham Northern line extension to Battersea. The mean these areas are attracting increasing council recognises the need for further waves of investment. transport improvements and is supporting Average house price Average rent an upgrade to Clapham Junction station and also campaigning for Crossrail 2. £626,973 £1,9 52 pcm

House price growth Rental growth You should also know:

–– Wandsworth is home to the world famous Battersea Dogs and Cats Home, which finds new homes for more than 5,000 animals each year.

–– Clapham Junction, Britain’s busiest railway station, is really in Battersea, but when it opened in 1863 the railway company felt the name Clapham would attract more middle class passengers. Last five years Over last year Five year forecast Last five years Five year forecast –– In 2005, Tooting had a crater on Mars officially named after it by the % % % % % International Astronomical Union. 53 0 15 6 22

–– Wandsworth has one of the highest employment rates in London, with 80.3% people in work.

House price Average value of Units under Proportion of PRS Growth of the PRS to earnings new build (£psf) construction Households (2008–2014) 11. 5 £1,088 5,588 31% 34%

30 1.0% 354 1,537 ‘Outstanding’ Share of London Number of restaurants Number of shops primary schools office space and cafés

Underground/ Railway DLR/Tramlink Overground stations stations 7 stations 8 0

Nine Elms Point CBRE Residential 74–75 London living 2017

Westminster Westminster is well known as the heart For example, The Pathé Building in Soho of prime London. It is made up of affluent has maintained the building’s original listed Current population Average salary areas including Belgravia, Mayfair, and façade, with the apartments’ interiors Westminster is home to all Knightsbridge and has one of the reflective of the building’s history as former that is quintessentially highest house prices in London. The home of the famous Pathé Film Company. 242,100 £55,308 area’s architecture, especially in places Similarly, Wardour Lofts, a warehouse thought of as London: such as Soho and Covent Garden, make conversion in Soho, has retained its Population growth over next decade Employment Big Ben, the Houses of it particularly suited to boutique style exposed brickwork, 200 year old reclaimed residential development. Boutique oak flooring, original exposed ceiling % % Parliament, the West End developers specialise in a more individual beams and an array of other strong design 8 68.0 Theatres, and the approach to building, design and fit-out. statements. Demand for a more individual, Often starting with existing structures, personalised and bespoke product is being restaurants, bars and from offices, to warehouses and schools, driven by an increasingly discerning galleries of Soho and developers incorporate distinctive consumer (and is also evident in the retail characteristics such as grade listed market and hotels). Average house price Average rent Covent Garden. As a result, façades, ceiling beams and exposed it has one of the highest brickwork into their developments. house prices in London £1,044,649 £3,329 pcm and the UK. You should also know: House price growth Rental growth

–– Westminster has 31 underground stations, the most of all London Boroughs.

–– Westminster has nearly 6,000 retail outlets; the most in any London borough. It also has 40 public conveniences with an estimated 15 million users per year.

–– It is estimated that more than 95% of visitors to London visit Westminster, representing approximately 28.5 million people per year. Last five years Over last year Five year forecast Last five years Five year forecast % % % % % –– The City of Westminster contains over 11,000 listed buildings of special 48 7 21 -1 21 architectural and historic interest and 78% of the borough is included within a designated conservation area.

House price Average value of Units under Proportion of PRS Growth of the PRS to earnings new build (£psf) construction Households (2008–2014) 19.1 £1,969 3,137 43% 27%

19 20.6% 2,018 5,936 ‘Outstanding’ Share of London Number of restaurants Number of shops primary schools office space and cafés

Underground/ Railway DLR/Tramlink Overground stations stations 31 stations 4 0

The Pathé Building CBRE Residential 76–77 London living 2017

Contact Jennet Siebrits Mark Collins Head of Residential Research Chairman of Residential +44 20 7182 2066 +44 20 7182 2264 [email protected] [email protected]

Sources Annual Survey of Hours and Earnings 2016 Calculated from data Experian GLA Datastore 2016 based projections GLA Datastore borough profiles GLA Datastore household tenure 2008 / 2014 Land Registry as at May 2017 London Councils London datastore Molior NLA Nomis website - ONS Annual Population Survey (Apr 2016 - Mar 2017) Rightmove Q2 2017 Valuation Office Agency www.gov.uk/school-performance-tables www.bbc.co.uk/news/uk-england-39327149 www.compare-school-performance.service.gov.uk https://data.cdrc.ac.uk/lad/about/sutton

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Published 2017

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