Is London losing its sparkle?

Although Samuel Johnson famously said: “When a man is tired of London, he is tired of life,” recent figures suggest that the capital city is losing its shine among some of our most talented groups.

Recent figures from the Office for National Statistics and the Land Registry showed a mass exodus from London. In the year to June 2016, net outward migration from London (those leaving the city) reached 93,300 people – more than 80% higher than five years earlier.

Delve a little deeper and you’ll see the biggest age group upping sticks are those in their 30s – probably the richest in terms if skills and employment credentials.

 The report even went on to illustrate where people are moving to. Apparently if you’re over 25 and selling up in Islington, you’re most likely to end up in St Albans, Hertfordshire. People in Ealing often resettle in Slough. Cambridge, Canterbury, Dartford and Bristol also got the nod as favoured destinations outside of London.

While London laments a generation of Millennials tempted away to pastures news, the regions are rejoicing the influx of skilled professionals. Internal migration is seen as an essential way of rejuvenating cities outside of London, strengthening other economies within the UK and taking the heat out of the capital’s property market.

Here at ARPM Relocation, we have been a champion of alternative cities and towns for many years, providing relocation and orientation services for many businesses looking to redeploy staff. Here’s our top three not-London locations:-

Bath – heavy financial investment coupled with a sophisticated leisure scene and stunning property makes Bath a popular choice with Londoners. NESTA (the National Endowment for Science and Technology and the Arts) identified Bath as a top ten UK hub of innovation and creativity, with Bath Quay South, the University of Bath's Innovation Centre and Silicon SouthWest employment hubs of note.

Reading – its blend of business parks, fantastic employment opportunities, affordability and short commute into London (less than 30 minutes) hasn’t gone unnoticed. The town is ranked 1st in the UK as a tech employment cluster, according to a KPMG report; is already home to 13 of the world’s top 30 brand global companies and was ranked 10th in the fDI European Cities & Regions of the Future 2014/15.

Edinburgh – this Scottish city is as smart and as sharp as London, just with a different accent. Its business credentials aren’t to be sniffed at either. The Financial Times’ fDi Magazine named Edinburgh as the ‘Best Mid-Sized European City of the Future’ and ‘Best Foreign Direct Investment Strategy (Mid-Sized City)’ for 2014/15, whist The European magazine awarded Edinburgh fDi City of the Year in the Business and Finance Awards 2015.

 For advice on resettling professionals away from London, please talk to ARPM Relocation. Our agents work across the UK in all of the major cities and towns.

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