An financial evaluation of London Boroughs, undertaken by property consultancy Lambert Smith Hampton (LSH), has revealed Kingston Upon Thames is the very best place to work and stay 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 determine that are the very best locations to work and stay, with the strongest development prospects. Every location was ranked on three pillars: financial system & enterprise; dwelling; and well being & setting.
Kingston scores properly throughout all three pillars, however its standout efficiency is within the dwelling pillar, the place it achieves prime place bolstered by excessive scores for instructional achievement and home worth development. It additionally locations fifth for well being & setting, with the borough boasting among the lowest cardiovascular mortality and crime charges in London, alongside excessive recycling charges and a big provide of inexperienced area.
Even Kingston’s weakest pillar, financial system & enterprise, sees it rating properly above the London common with one of many highest GVA development forecasts.
Harrow could also be one in all London’s lesser sung boroughs, however its second place total is properly deserved because it scores extremely throughout a number of measures. Putting first within the well being & setting pillar, Harrow boasts probably the greatest 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 one in all London’s properly established prosperous boroughs, Richmond upon Thames’ excessive total rating is constructed totally on a third-place end within the well being & setting pillar. The borough advantages from an abundance of inexperienced area together with Richmond Park, the biggest of London’s royal parks. It additionally scores properly on this pillar because of having the bottom crime charge in London and a low cardiovascular mortality charge. On prime 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 financial system & enterprise, dwelling and well being & setting, 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 mirror 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 resembling Merton, Ealing and Hillingdon additionally effervescent beneath simply exterior the Prime 5. Not surprisingly, central areas usually draw the best power from financial system & enterprise metrics, whereas outer boroughs rating increased for well being & setting.
Based mostly on financial metrics alone, unsurprisingly each Westminster and the Metropolis of London are stand-out performers, reaching prime scores for enterprise creation, enterprise density, GVA per capita and business property funding.
Tower Hamlets, dwelling to the Canary Wharf workplace district, is positioned third on this pillar. Sharing lots of the identical strengths as the highest two, Tower Hamlets’ finest metrics are GVA per capita and GVA development forecasts.
Islington additionally makes the Prime 5, buoyed by a powerful artistic business presence and reaching excessive marks for brand new enterprises, enterprise density and jobs development. The ultimate location within the Prime 5, and the one one south of the river, is Southwark which boasts a excessive stage of job creation, significantly within the accountancy, consultancy and authorities sectors.