London boroughs are seeing the biggest population rises in the country, new research has found.
Between 1997 and 2007, the top four locations in the country with the biggest population rises were the City of London, Westminster, Kensington and Chelsea and Camden, Halifax Financial Services said.
Martin Ellis, group economist at Halifax Financial Services said: “Population changes are important to the development of the UK economy, determining the size of the working population and providing the backbone to the consumer economy.
“One of the key trends in the last decade has been the growth of inner city areas in Greater London coupled with declining populations in some of the UK’s largest cities outside the capital such as Belfast, Dundee and Liverpool.”
Despite the increasing population of the capital, many companies are seeing their London offices decrease in value, with the likes of Songbird Estates, the developers behind Canary Wharf, suffering a 9.6 per cent loss in their portfolio in the first half of 2008.