Rapid population inflow to London and south-east
New research has revealed that London and the surrounding areas have welcomed more new residents than any other UK regions over the past decade – putting a high demand on rental property.
Figures from Halifax showed that the south-east was host to 2.5 million new arrivals between 1996 and 2006, while London has seen one million newcomers from abroad in the past decade.
London and the south-east also saw many residents leave for other areas, but the south-east still remained second only to the south-west in net gain from internal migration, while London's 538,000 overall population gain was the biggest volume increase of any region.
With such large inflows and outflows of people in the capital and its surroundings, the demand for rental property has risen, allowing rental accommodation to change hands rapidly as people seek more temporary solutions.
Martin Ellis, Halifax chief economist, said: "The south-east and south-west have been the most popular destinations for people to move to from elsewhere in the UK over the past decade."
He added: "Figures at a local authority level highlight the transient nature of the population in many of the UK's major cities."
Published 7th January, 2008
© 2008 Estates IT Limited
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New research has revealed that London and the surrounding areas have welcomed more new residents than any other UK regions over the past decade – putting a high demand on rental property.