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A new report has used big data and and computer modelling techniques to identify the areas that will be most attractive for Londoners to move to.
Residential Mobility in London, produced by agency Cluttons in association with University College London and the Consumer Research Data Centre, said the top five areas likely to attract 'residential migrants' — people in the existing London population who relocate to another neighborhood in London — are East Dulwich, Greenwich, Canada Water, Maida Vale and Hammersmith, in that order.
The report used census and house price data to evaluate several factors to determine which would influence residential migration in London and work out which areas will be most attractive in the future. Factors included the connectivity or accessibility of an area, population density, affordability and the socio-economic status of the residents.
Cluttons picked out one of those areas for particular attention.
“Maida Vale stands out amongst the markets mentioned above,” Cluttons partner and head of research Faisal Durrani said. “Its proximity to the West End and high level of accessibility suggests this is certainly going to be a market to watch going forward. The 207% house price growth registered here over the last 20 years may be just the beginning of a remarkable growth story yet to come.”
The research made some counterintuitive findings. For example, while high house prices can be a barrier to entry for an area, when controlled for factors like the proportion of wealthier people living there, those areas actually have positive migration, as people want to access that growth.
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