An financial evaluation of London Boroughs, undertaken by property consultancy Lambert Smith Hampton (LSH), has revealed Kingston Upon Thames is one of the best place to work and reside in 2023.
Harrow was second-highest positioned within the index, adopted by Richmond Upon Thames, Westminster and Brent.
The inaugural London Vitality Index assesses the qualities of every of the capital’s 32 boroughs and the Metropolis of London, to establish that are one of the best locations to work and reside, with the strongest development prospects. Every location was ranked on three pillars: economic system & enterprise; dwelling; and well being & surroundings.
Kingston scores properly throughout all three pillars, however its standout efficiency is within the dwelling pillar, the place it achieves high place bolstered by excessive scores for instructional achievement and home worth development. It additionally locations fifth for well being & surroundings, with the borough boasting among the lowest cardiovascular mortality and crime charges in London, alongside excessive recycling charges and a big provide of inexperienced house.
Even Kingston’s weakest pillar, economic system & enterprise, sees it rating properly above the London common with one of many highest GVA development forecasts.
Harrow could also be certainly one of London’s lesser sung boroughs, however its second place general is properly deserved because it scores extremely throughout a number of measures. Inserting first within the well being & surroundings pillar, Harrow boasts among the finest life satisfaction scores throughout the capital and low crime charges. In the meantime, a second-place end within the dwelling pillar is underpinned by strong home worth development in 2022 and low retail emptiness charges.
As certainly one of London’s properly established prosperous boroughs, Richmond upon Thames’ excessive general rating is constructed totally on a third-place end within the well being & surroundings pillar. The borough advantages from an abundance of inexperienced house together with Richmond Park, the biggest of London’s royal parks. It additionally scores properly on this pillar attributable to having the bottom crime charge in London and a low cardiovascular mortality charge. On high on this, Richmond was sixth within the dwelling pillar, boosted by excessive ranges of instructional attainment and prosperous households.
The rating is cut up into three distinct pillars comprising economic system & enterprise, dwelling and well being & surroundings, drawing on a complete of 18 datasets. By incorporating a diverse vary of indicators, the index takes a holistic method to the evaluation of the vitality of the boroughs.
The outcomes replicate each the established strengths of particular person boroughs, in addition to the influence that current occasions such because the pandemic have had on the demographics and economics of the capital.
Places to the west of London have a heavy presence within the increased reaches of the general rating with boroughs akin to Merton, Ealing and Hillingdon additionally effervescent underneath simply outdoors the High 5. Not surprisingly, central places usually draw the best power from economic system & enterprise metrics, whereas outer boroughs rating increased for well being & surroundings.
Primarily based on financial metrics alone, unsurprisingly each Westminster and the Metropolis of London are stand-out performers, attaining high scores for enterprise creation, enterprise density, GVA per capita and industrial property funding.
Tower Hamlets, house to the Canary Wharf workplace district, is positioned third on this pillar. Sharing lots of the identical strengths as the highest two, Tower Hamlets’ greatest metrics are GVA per capita and GVA development forecasts.
Islington additionally makes the High 5, buoyed by a robust inventive business presence and attaining excessive marks for brand new enterprises, enterprise density and jobs development. The ultimate location within the High 5, and the one one south of the river, is Southwark which boasts a excessive stage of job creation, notably within the accountancy, consultancy and authorities sectors.