Home Business Insights & Advice Why London continues to draw new residents to its boroughs each year

Why London continues to draw new residents to its boroughs each year

by Sarah Dunsby
3rd Oct 22 2:04 pm

It goes without saying. As the capital of the United Kingdom, London is arguably the most popular destination with tourists. In fact, millions upon millions of people from all four corners of the globe descend on the big smoke every year. Whether it’s to check out all things royal, catch a West End show, or shop till you drop in Oxford Street, many tourists fall in love with London and decide on staying put.

It’s no surprise that more and more people are moving to London each year. What’s more, the capital is constantly having affordable houses being built, making the city financially accessible for all. Here are just several reasons why London continues to draw in new residents to all its boroughs year on year.

Cultural diversity

One of the things that makes London so special with people from all over the globe is its cultural diversity. As you stroll the streets of the capital, prepare to take in all kinds of languages. In fact, hundreds of languages are spoken in London. There’s no surprise there when you learn that 37% of residents weren’t born in the UK.

Wherever you come from and whatever your heritage is, it’s safe to say London is one of the most welcoming cities in the world. Because the big smoke has such a diverse mix of people, you will soon learn about different cultures and make connections with residents from all different backgrounds.

Business epicentre of the planet

As a hub for innovation and development, many huge corporations are housed in London and around the capital. If you are thinking of moving to London, you will be pleased to know that there are plenty of career opportunities to be had. Whatever sector you work in, many big businesses use their base in the capital, meaning it shouldn’t be too difficult to seek employment.

Whether your specialities lie in real estate, banking, accounting, or the creative arts, there is definitely a job for you in London. Understandably, there will be fierce competition in these fields, so you shouldn’t make any plans to move to the capital until you’ve got secure employment in place. There is plenty of room for growth too. Should you play your cards right and work your way up the career ladder, there’s no doubt you could be on your way to earning a 6-figure salary and beyond! If you’re looking to launch your own business, there are plenty of options for you. One great approach is to choose a popular franchise and bring it to London. If you’re looking to buy a franchise, make sure you conduct thorough due diligence to make sure you get the best possible deal and can start your London business adventure as you mean to go on.

Easier to buy than you may think

If there is one misconception many people have, it’s that London is incredibly difficult to buy property in. The good news is there is a wide array of affordable homes in its boroughs that could see you moving into before you know it. Of course, the city centre boroughs are going to house the most expensive properties that run into the millions. However, if you look on the outskirts of the capital, there are plenty of boroughs that offer much more affordable prices.

There is the London Help to Buy scheme that’s an initiative backed by the government. This is designed to help first-time buyers and current homeowners shift up the property ladder. If you are purchasing a brand-new home, the good news is you only need a 5% deposit, 40% Government equity loan and a 55% mortgage. Because of this scheme, it’s never been easier to buy a property in the capital.

Wide selection of properties

When moving to the capital, you’re presented with a wide array of different styles of architecture. These include modern properties, Victorian, and Georgian, meaning there’s truly something for everyone. For those after a modern house that requires no modifications, a new build may be the right option for you.

Because London is such a thriving property hub, there are always developers building new homes in and around the capital. There will be lots of factors to take into consideration regarding the style of property you want, so make sure you jot all this down before making any rash decisions. For example, some people may like the idea of living in a house, whereas others are content with a high-rise flat apartment. The choice is up to you!

Plenty of areas to live in

There are 32 boroughs in London to choose from, meaning you’re bound to find one right for your needs. In fact, the capital is made up of mini-cities in itself. Each of these comes with their own unique flairs, residents, and things to do.

As we’ve touched on, the boroughs closer to the city of London are going to be pricier than those on the outskirts. You must be realistic with your budget and finances regarding where you’d like to live. For instance, you’re not going to get a 3-bed detached property for cheap in Mayfair! Once you’ve found your dream property, it’s time to look into London conveyancing solicitors like Quittance. They take care of the legal side of your home move and are experts in the transfer of the ownership of a London property from the past owner to you.

Fantastic transport links

Many people dream about starting a new life in the big smoke. However, you may have reservations about leaving all your friends and family behind. The great thing is London prides itself on its fantastic transport links. Whether it’s the magnificent tube which can get you across the city within minutes or its buses, you can explore London with ease without the need of even owning a car!

One huge advantage of living in London is its access to the rest of the UK. There are always dozens of trains that head east, west, north, and south. You can also head on the tube to Heathrow Airport and jet off to see loved ones if they are overseas. Just make sure you’ve got your oyster card topped up and ready to go!

So much to see and do

If there is one thing we can guarantee about living in London, it’s that you’ll never get bored of the place! Unlike small villages and towns where not a lot goes on, the capital is bursting at the seams with history, architecture, attractions, and events that are sure to keep you satisfied. For example, if you’re a musical lover, you’ll love taking a trip to the West End to catch a show.

London is also home to a wide selection of art galleries and museums. If you want to learn more about the capital’s history, a visit to the National History Museum is a must! Contrary to popular belief, there is lots of greenery situated in the city too. One spot in particular you must head to is Hyde Park. There, you can take a stroll, be in touch with nature, and at times forget you’re even in the middle of a hectic city!

Making the move to the capital should be one that’s not taken lightly. London is a vast place and is made up of 32 boroughs. As you would expect, some are more costly and safer to live in than others. This means before you start your search for your dream London property, make sure you have a solid idea of the borough you want to live in, what the neighbourhood is like, and of course, whether you can realistically afford to live there.

What we can guarantee is that once you’ve chosen the perfect borough and get settled in, you will never look back!

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