Education
Of the Top 50 Global Universities, 8 are in the UK, 4 of which are in London. (QS World University Rankings)
A leading global education centre with one of the largest populations of foreign students from all over the world, London is home to world-class institutions, such as the Imperial College London, University College London, King's College London, the London School of Economics and Political Science and the Royal College of Music.
Long - Term House Price Growth and Stability
The London property market has remained stable even under economic crisis and pressures like Brexit and the COVID-19 pandemic. The average house price in London has continually shown steady long-term growth for decades and average prices doubled over the past 12 years from March 2009 (£247,264) to March 2021 (£504,384). Across the UK, average house prices have also shown an increase of over 60% during the same period. (Land Registry Data)
Economic Outlook
According to JLL, positive forecasts for the UK’s economy have been predicted in the upcoming years. The chart shows that UK GDP growth rebounded in 2021 following the sharp coronavirus-induced contraction in 2020. The recovery is forecast to continue with 2022 returning another year of rapid expansion which should complete the return to pre-crisis activity levels. Unemployment contracts steadily and The Pound continues to strengthen.
5 Year Growth Forecasts
Industry experts are forecasting there will continue to be strong property price growth across all major markets over the next 5 years, potentially culminating in almost 24% growth in Greater London and over 20% growth growth in the UK overall by 2025 as shown by JLL forecasts. They say cities will bounce back more strongly in terms of price growth and rental growth than rural areas as there continues to be a renewed desire to return to more ‘normal life’. This bounce will particularly be felt in 2022 and 2023 as seen in Prime Central London with prices and rents continuing their growth after a strong 2022.
