London calling

Posted on Posted in INDUSTRY NEWS

The capital has continued to draw thousands of people to its city offices and workplaces, a new study has revealed.

Data from the Halifax has illustrated the large migration to London from across the world – overall, the population has increased by over half a million in the last ten years.

Martin Ellis, chief economist, explained that the south-east and south-west were the most popular destinations and the population of cities was always changing.

"Figures at a local authority level highlight the transient nature of the population in many of the UK’s major cities," he said.

"Birmingham, for example, recorded both the highest level of immigration and emigration in England and Wales."

Despite recent difficulties in commercial and private property markets, 2007 saw huge growth in some areas.

Last year’s list of booming property areas was led by Montrose. The Scottish coastal port recorded house price inflation of 39 per cent in 2007 – the average cost of a home in the town rose from £123,494 to £172,156.

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