© The Financial Times Ltd 2016 FT and 'Financial Times' are trademarks of The Financial Times Ltd.
Monthly Archives: March 2014
Anyone who spends time in the capital, where flocks of cyclists are a feature of life, will nod in recognition at the news that the number of people cycling to work in London has doubled over the last decade.
But what’s less known is how far this increase has been driven by the gentrification of inner London. House prices have soared in London’s poorest urban boroughs as 20-somethings and families have stayed in London, rather than moving out to suburbia.
|Local authority||Change in average house price 2001-2011||Change in people cycling to work 2001-2011||IMD ranking (1=most deprived)|
(Source: ONS, Land Registry) Read more
More millionaires migrated to the UK between 2003 and 2013 than to any other country worldwide, and London topped the rankings for millionaire residents in a single city.
A net flow of 114,100 dollar millionaires flocked to the UK over the decade in question, taking the country’s total to 815,000, or 13 people per 1,000 residents.
More than 60 per cent of millionaires moving to the UK since 2003 were from Europe, according to the report compiled by specialists in wealthy individuals, New World Wealth. The figures exclude the value of primary residences.
The March 19 Budget will be delivered against a background of broad economic positivity, but that tone may not sit well with everyone. Since George Osborne’s speech this time last year, fortunes have been mixed: the labour market has been slow to pick up in the East Midlands, the north has been hit by job closures and production of transport equipment has fallen.