London has seen substantial population growth and social change over the last decade. The movement of socio-economic groups around the capital has altered the profile of many areas and had an impact on property markets across the city.
The regeneration of brownfield sites in central and eastern locations has attracted higher concentrations of more affluent people.
Many of these locations had few existing residents and so the positive regenerating effects of the new build development have been considerable.
Meanwhile, a combination of factors including the undersupply of new homes and economic growth have led to a rise in the concentrations of less affluent people living in the outer suburbs. This looks set to continue while there remains an under-supply of new homes at the lower end of the market.
As the city continues to grow, the availability of large scale development sites will inevitably shrink and so developers will look to intensify existing areas of residential housing. It will be essential that, wherever this occurs, the new developments cater to both the wider needs of London’s growing population and the needs of the existing residents.