Almost half of new jobs created in the last decade were in London and South East
- 28th February 2020
- Landlord Property News
London’s booming employment market attracts more renters to the capital
New research by thinktank IPPR North shows that London and the South-east of England accounted for 47% of new jobs created in the UK over the last decade.
London’s booming jobs market continues to attract young professionals to the capital, leading to increased demand for rental properties.
Young professionals new to London are likely to rent for a number of years before they reach the stage in their life where they are in a position to buy a property. Renting offers flexibility, with the option of living in different parts of the city before deciding in which area to buy.
It has been estimated that the number of renters in London will rise by 122% in the next 10 years, driven in part by an increase in the population.
A major growing sector in the capital’s economy is fintech. London boasts the highest number of fintech headquarters in the world, many of which are located in Canary Wharf and Silicon Roundabout in Old Street.
In addition to excellent employment prospects in the capital, London’s wide array of cultural offerings such as restaurant and bars, add to its appeal amongst young professionals.
Stephen Ludlow, Chairman at ludlowthompson, says: “With London and the South-east accounting for such a big portion of new job opportunities in the UK, the rental property market is likely to reap the benefits.”
“The range of well-paid job opportunities in London in growing areas such as technology, means that rental property in the capital will remain in high demand.”
ludlowthompson maintains its transparency by encouraging customer reviews across a number of platforms. Over a three-year period, we ranked number 1 agent in the UK on allAgents out of 15,000+ agents, with 5300+ 5* reviews. Here is a selection of recent reviews of happy customers of ludlowthompson via Google Reviews:
Carmen M via Google Reviews:
“The team at ludlowthompson have been great this far! We are renting a lovely house and everything has been very smooth. The Canada Water office have been most helpful, and very quick! Would totally recommend - 5 stars!”
Ines M via Google Reviews:
“We recently rented a flat through ludlowthompson Dulwich. They were great, communicative and very friendly, proactive and really really quick to respond to any of our questions! Would highly recommend!”
With London and the South-east accounting for such a big portion of new job opportunities in the UK, the rental property market is likely to reap the benefits
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