The Centre for London has just published an interesting report called, Core Values: The Future of Central London. Like most city centers, Central London (or the Central Activities Zone as the report calls it) punches well above its geographic weight.
Central London occupies about 0.01% of the UK’s total landmass, but is responsible for about 10% of its economic output. It represents about 2% of London’s total footprint, but is responsible for about 40% of total employment and about 45% of economic output.
Here’s another interesting stat:
From 1961 to 1983, the residential population of CAZ boroughs in London fell from about 2.5 to 1.7 million. And things really didn’t begin to turnaround until the late 1980s. It took until 2018 for the population to return to 2.5 million. Makes me wonder: How concerned do you think people were in the late 1970s about housing affordability in Central London?
To read the full report, click here.
Chart: Centre for London